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@Roberto why did you not tell me this last year?
It would of saved me a lot of time!
Thanks anyway for your comprehensive assessment and guidance.
Pulling my shares out as I write this.
😂
It's dead, get over it, move on.
…my liking.
Pace of the turn around, I mean. And the inventory control has been a disaster as we know. So personally, not always pleased.
Not entirely sure what update you’re reading because there’s no detail to your post but if you’re so certain open a large short position.
I won’t respond again for obvious reasons but I wish you and whoever switches you on and off good luck.
Imelda Marcos - I'm an investor seeking value with a long term view, I was pleased before I sunk my cash into the brand.
Not really (if you’re referring to me) - the pace was a little too slow of the mark for
You are always pleased :) bad news, good news, share tumbling - you are always happy.
As they say - Hope dies last. But Asos is already dead, it has been for the past 2 years.
Let the clowns have the circus.
More than happy with the update. Time in the market not timing the market.
ASOS will - and is, rising again.
FY 2025 numbers are going to look very very tidy. If you think a business with quarterly revenue of 1.4 billion is a failing company, you need your head checking. Yep, 120 million loss, but we all know the reasons why and this is an ongoing restructuring / gameplan that is clearly working and heading in the right direction.
I have the patience of a sloth and more than happy with my substantial investment :) An average of a little over 5 squid and I will making a 300%+ ROI in time :)
Please do.
I’m sure you won’t, but hey - here’s to hoping.
PS, it’s easy to see why Barker smashed into it with another £2m.
Without wanting to make ‘excuses’, if this wasn’t the LSE this would have taken off today. It’s going to be a long slog but pleased (so far).
Come back in 12 months and let us know your thoughts.. :)
Lol. I repeat - the market has spoken. Asos is dead.
Hi Jamesss
Just tuning in and didn’t catch the call as I’ve been travelling today. Looking forward to catching up on it all. But personally, I feel very pleased with today’s update. The turnaround is taking hold here and at some point it will be difficult for the market to resist the pull of the story. Perhaps later this year. Meanwhile let the short seller play to the technicals - no problem. Bit by bit the risk is evaporating here and I’m glad to be part of the long term story.
One word: phew.
GLA
I only caught the first 30 mins when Jose was talking about the trading statement/key points then I had to leave. I'll watch it all and Q&A later once it's on the website.
So far though I'm encouraged by the update/results. Deadwood has nearly been cleared, guidance reiterated, with growth resuming in Q4 and FY25 when it starts to come to fruition with margins, profitability and growth. We knew the turnaround would take time but it's nearly there, and the figures should start improving.. no reason for it to not be a hold/buy imo.
I listened/watched the whole call and still beleive they are making all the right noises.
Analysists could not really tie them up with any difficult questions.
As people here will know, I would like more progress regarding branching out in India as I really do think that will be a game changer.
They reiterated next year to be the golden year of the turnaround many times.
Happy with the results and conference call overall.
A positive day in my books.
The SP and shorts will dance their dance however; the bigger picture here looks healthier and not a place for their short lived games.
I am more than happy to hold here :).
@Knowbodyyouknow @Sj did you catch the conference call?Thoughts?
Great share to go short on.
Taken in account where we come from pretty ok with update sofar but the call was too optimistic for my taste and analyst were very nice,.Asos needs to clean the house in an extremely difficult operating environment. Theoretically they are doing the right things but we need to see if it will work and bring them back to 4 B sales with net income of 3-4 % with a strong balance sheet and market leading company culture. It is still fragile but great to see debt down and FCF improving. Did they harvest the easy part of selling old stock? What will cleaning up the remaining old stock impact gross margins? Speed is not a differentiator in this business, several others can do it. A local londen influencer marketing campaign nice but they need to scale up faster. The others are. The new CFO came from Farfetch and must have seen there some painful things and learned from it and I hope he will become a strong partner for Jose (he is young and if he delivers here will be able to make himself financial free) , he has I guess a line directly with Frasers group where he works now. Next update is FY24 so long time, a lot can happen.I need more patience on this turnaround, Original thesis was to harvest end this year as I do not see this as a long term investment due to lack of moat, can still happen if this call is digested positively by some big buyers looking for bargain hunting on the cheap LSE and in general EU stocks markets. GLA, long asos.
Not bullish enough to buy themselves though...
This is a very bullish investor call, it is still going on currently.
The time to buy is when the shorts start retreating, however until then we pray they get a bloody nose!
As expected really. A bit of a nothing update.
And as expected the SP hasn't really moved. Which isn't too bad considering world events.
Bad weather, hot competition, high inflation and destocking issues.
I was surprised to see the 10pc early jump. Not surprised to see it come back down.
Overall. As expected to me.
What were your/other posters' impressions from the investor call?
Have not listened to it yet, but assume it will be available online later to catch up with.
Hopefully we see some inside buys confirmed later today.
I bought this share for £50 per share and have averaged down 14 times. I even bought in the placing at £4.18 thinking that was the bottom. I am still 50% down and got an average of just under £7. It's now my largest holding and I would love to get out of this dog!
“At the beginning of this year we explained that FY24 would be a year of continued transformation for ASOS as we take the necessary actions to deliver a more profitable and cash generative business. Under our Back to Fashion strategy, we set out three priorities for the year – to offer the best and most relevant product, to strengthen our relationship with customers and to reduce our cost to serve. We have delivered on each of these in the first half of the year, including right-sizing our stock ahead of target to drive our best first half cash performance since 2017 and seeing excellent results in our Test & React model, which is growing at pace. ASOS is becoming a faster and more agile business, and we are reiterating our guidance for the full year as we lay the foundations for sustainably profitable growth in FY25 and beyond.”
Lol yeah keep saying that to yourself!
Im still in buddy :) ive always been an ASOS believer. I think sometimes we all just have to keep ourselves grounded. Ill buy anything below 340 and sell anywhere above 380. One day the ship will sail without me, and im okay with that when it happens :)