Apr 25, 2025 / 07:30AM GMT
Hermann Haraldsson - Boozt AB - Group Chief Executive Officer, Co-Founder
Thank you and good morning to all and welcome to the presentation of our Q1 results. Let's turn to the first slide. The operating environment remained challenging the quarter with consumer confidence in the Nordics declining even further, most likely fueled by the increasingly uncertain geopolitical situation.
In terms of top line, we increased revenue with 2% in the quarter or 3% in local currency. Growth was primarily driven by Booztlet.com. It saw a strong 18% increase as we did during the second half of last year, we have used the Booztlet.com to clear inventory in the quarter. Our price initiatives on Booztlet help keeping our inventory fresh while contributing to building Booztlet value brand franchise.
Revenue from Boozt.com declined slightly in the quarter by 1% but remained flat in local currency. This, we believe reflects both the current cautious consumer environment as well as the fact that we deliberately are less aggressive on pricing on Boozt.com. While this impacts short term sales, we do this to
Q1 2025 Boozt AB Earnings Call Transcript
Apr 25, 2025
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