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Jan 10 2022, 07:10 GMT
2021 was a very challenging year for boohoo Group (BOO), with the second half exposing the ability to guide conservatively – admittedly for the first time since perhaps 2015. The December 16th trading update delivered the cut to numbers that has right-sized expectations — with c.35% reductions to FY22 and FY23 adjusted EBITDA expectations. The risk/return dynamic supports cautious optimism here, and we retain our ‘Outperform’ rating.