Boohoo Grp Plc Unsp/Adr (BHOOY) Q4 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hi, good morning, everybody. I'll introduce, well, they're all with me, the guys with me, Sean, John, Carol. Been interesting times. Really looking forward to the future. We've had days and days of a year of every day there's a higher cost and we've got to deal with this and it's like the dungeon cars and we're just moving and swerving. And now as it opens up, it's not only exciting, it's fun. Because the opportunity is opening up everywhere for us. And I'm really looking forward to the next part of the journey. So I've said enough. And over to the guys. Thanks. Thanks, Mahmood. And good morning, everyone. I'm going to give an update this morning on our group and performance last year. how we are navigating the macro backdrop and getting the business back to growth. Sean will talk through the financials and I will then come back to talk in more detail about the initiatives we are taking, after which Carol, Sean, Mahmood and I will take any questions that you guys may have. What we've seen has been significant growth over the last three years with sales plus 43% and we have taken meaningful amounts of market share. More recently, trading conditions have been tougher for the sector, with supply chains disrupted and inflation impacting costs and dampening consumer demand. During this period, we've made substantial progress with operational priorities. Macro conditions are improving and we're reinvesting into price and lead time to reinforce our value credentials and our test and repeat model. Inventory is leaner, lighter and turning faster. Significant progress has been made with key infrastructure projects, including automation and our US distribution center that goes live later this year. And this is all geared towards ensuring that we are well placed so that the grou...