Q1 2019 Boozt AB Earnings Call Transcript
Ladies and gentlemen, welcome to the Boozt Q1 2019 report. Today, I'm pleased to present CEO, Hermann Haraldsson. (Operator Instructions)
Hermann, please begin.
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Thank you. Good morning, and welcome to this Q1 call.
Let's go to the first slide, the key highlights. And before we go into the details, I just want to go through some of the highlights for this first quarter. Overall, the first quarter of 2019 was roughly in line with expectations, roughly we say because the high returns drove down the net revenue and average order value. But all in all, it was in line with our expectations. The growth was supported by Boozt.com with 25% and then also Booztlet that had a very, very strong quarter with a growth of 104%. And we are seeing that Booztlet is gaining momentum and currently even gaining an increased momentum. So that's quite exciting.
The gross margin was down versus last year, mainly, as we see it, due
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