Boohoo.com (LSE: BOO), the fast-growing online fashion retailer, saw its shares spike up 4% in early trade this morning following the announcement that it has increased its international presence by launching a German-language website.
Following in rival ASOS‘s (LSE: ASC) footsteps, boohoo.com now has foreign-language sites in France, Spain and Germany, and has added three further currencies — Swedish Krona, Danish Krone and Norwegian Krone — to the existing six currencies already available.
The market reacted positively to the news, with international sales accounting for 35% of boohoo.com’s total sales. However, this still pales in comparison to ASOS’s 61%, which comes from sites spanning the US to Australia, Russia to China, as well as further European coverage with Italy.
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It’s all about growth with these two: while ASOS was the darling of the AIM for many years, seeing a nigh-on 15-fold rise since its low point in 2010 of 415p, it’s now fallen back down to levels last seen over a year ago.
Boohoo.com has also suffered from market pressures, though; having listed at an offer price of 50p per share back in March 2014, the shares initially jumped 70% to 85p on their debut, but now trades at less than 40p.
If you think that this sector is due a recovery, then both of these shares might well look decent value at today’s prices when offset against their previous highs. However, neither stock pays a dividend currently so you won’t be placated with a trickle of income while you’re waiting for a turnaround, which is something I like in a growth share.
