Boohoo share decline raises dotcom bubble fears
Monday 31 March 2014
Online fashion group Boohoo.com fell below its 50p float price for the first time today as fears about a dotcom bubble continue.
The cheap fashion website that targets 16 to 24 year-olds saw shares drop as low as 49p, a fall of 2p, despite reporting annual sales in line with City forecasts.
Boohoo revealed sales rose 62 per cent on the prior year to £109 million and said it expected its underlying earnings to be up more than 200 per cent on last year’s £3.9 million. The group’s full-year results are out on June 12.
Following the float this month, shares in the retailer went as high as 85p but have fallen since.
Fears of a bubble have emerged amid a raft of internet firms listing in London. Online electrical retailer AO World surged 44 per cent on its first day of trading but tumbled back in subsequent days and is now only 9 per cent higher than its 285p float price.
Other recent retail listings have been mixed. Pets at Home is down 2.5 per cent on its 245p offer price, but discount store group Poundland is up 27 per cent since its debut.
- 1 2015 General Election: Green party will not appear in TV debate alongside Ukip – says BBC
- 2 Canadian actor punched in face after 'Islamophobia' experiment goes wrong in wake of Ottawa shooting
- 3 Topshop at centre of row over body image as 'shocking' skinny mannequin photo goes viral
- 4 Kentucky gang rape: 15-year-old boy left in critical condition after sexual attack by group at party
- 5 Of course, teenage girls need role models – but not like beauty vlogger Zoella
'Nasa Confirms Six Days of Darkness in December': No, they don't - it's a hoax
Canadian actor punched in face after 'Islamophobia' experiment goes wrong in wake of Ottawa shooting
Tim Cook: Apple CEO comes out as gay publicly for the first time 'It's among the greatest gifts God has given me'
Topshop at centre of row over body image as 'shocking' skinny mannequin photo goes viral
Halloween 2014: From the Screaming Man of Pluckley to the 'White Lady' of the Tower of London - Britain's 20 most haunted places
Pope Francis declares evolution and Big Bang theory are real and God is not 'a magician with a magic wand'
Huge surge in Ukip support after EU funding row, according to new poll
Ukip ‘exploiting grooming scandal’ to secure party’s first police chief
Nigel Farage: 'There’s nothing wrong with white people blacking up'
Muslims, immigration and teenage pregnancy: British people are ignorant about almost everything
Maureen Lipman says 'she can't vote Labour while Ed Miliband is leader'
iJobs Money & Business
£20000 - £23250 Per Annum pro rata: Clearwater People Solutions Ltd: Pro rata ...
£40 - 48k + Benefits: Guru Careers: We are seeking a Marketing Manager to join...
£45,000 - £65,000: Saxton Leigh: Our client is a well-known APAC Corporate and...
£60000 per annum: Ashdown Group: Compensation and Benefits Manager - Compensat...