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Thanks for posting kitty. Classic slow burner. Once we have some load-ups completed, the broker notes will be deployed and up she goes to the next rate level. This is transitioning to a full global business and the returns on next few years could be staggering. It’s a strong hold for me.
Supplier relationships terminated.
In other words they have already found credible replacement suppliers within their supply chain.
Time to re rate this stock.
Full steam ahead.
USA market is a tough but to crack and Boohoo are doing it! Everyone wants a piece of the USA market because they know if it works out they go from big time to stellar! All the analysts are focused on this now.
In the q&a did anyone notice the smile on Carol Kane's face when USA future growth was mentioned?
This is an exciting growth business and while I considered exiting today after getting in around £2.50, exit target wasn't reached so I have decided to add today and hold for the long term. The smile told me all I need to know.
Because of the hoo-ha BoD have deliberately taken a Relatively somber note for what they know are frankly outstanding results. I’ve just topped up before the analyst upgrades fly in. Do not underestimate the impact of USA!!
Well I saw nothing on that presentation web cast that would knock my confidence in the company. Carol Kane is never going to have a career as an after dinner speaker but despite her lack of presentation skills she certainly reassured you that they know their inions when it comes to their customer segments and marketing.
I liked johns response to one of the questions when he suggested in the next couple of months they will have a distribution centre outside of the uk.
What was quite telling was the analysts questions were relatively benign and came across as though they were simply seeking reassurance/affirmation of what they already know.
I only got into boohoo on the back of the Sunday times story because I thought they were going cheap and i hadn’t decided what my exact exit point would be at the point of purchase.
I am sitting on a nice paper profit and whilst I can’t say I wouldn’t be tempted to take some profits along the way I am of the opinion that it will be worth my while holding on to a fair chunk of what I’ve got.
thank you for your efforts @HereKittyKitty really good info and helpful
Replay here from 12pm
https://webcasting.buchanan.uk.com/broadcast/5f60844783507b593b4677e3
Notes above cover first 60 mins of 90 mins. Q&A interesting.
Superb set of operating and financial results.
BOO has a very bright future, I'd be expecting to see 1 or 2 takeovers now as BOO is in the box seat to pickup up high value brands from distressed companies. I would personally raised my appraisal now to a medium term of 500p
Gosh 90 mins in total - just finished.
Was absolutely excellent & reaffirms my investment
JP Morgan
Barclays
Peel Hunt
Liberum Capital
Morgan Stanley
all asking questions
Low growth Mar but huge Apr & May, then Jun-Aug normal + expected growth across ALL 9 brands
All the analysts are asking Questions
Pee Hunt asking about US
Expect Massive Upgrades here!
Boohoo, PLT & NG big in US
Today was a good lesson for me in buying speculation on AIM, every day is a school day.....
I suspect Analyst ratings to follow
Here they come
30-Sep-20 10:35:21 377.00 44,550 Buy* 376.40 377.30 167.95k O
Watched CEO, CFO & Co-founder - very professional hour long presentation!
- Admit issues found in Leicester
- Have ability to drive positive change & stop issues reoccurring
- Ambition to be fashion e-commerce leader
- Big investment in UK textile manufacturing industry
- Not afraid to act quickly
- 70,000 styles of clothing now!
- UK contribution - 1.5B sales, 5,000 direct jobs, saving UK brands, 80m paid Corp Tax
- Soucing more in Asia & Europe
- Directors of Sustainability & Compliance team in place
- Compliance programme for suppliers & manufacturing sub-contractors through accredited 3rd-party
- Group terminated many relationships from audits
- Will publish a list of approved audited suppliers
- Rolling out compliance globally
- Reducing waste improvements going well
- Invested in technology for auditing & compliance
- New supplier portal & app
- State of the Art facility in Leicester for not just Boohoo to help model legal manufacturing & train new people with 250 new jobs. Community access & not for profit - awesome!
- Fewer suppliers but more volume
- Audit everyone in 12 months, publish list in 6 months
- Implementing ALL QC recommendations
- Enhancing BoD compliance oversight with new ESG board member - Awesome!
- Fantastic first Half Year for group with record sales & record profit
- Boohoo & Leicester will flourish together
- Margins wont suffer but preference is to use Leicester
- 4.5m dresses sold but only 0.3% are the £5 dress - most £15-£35 -12% margin on £5 dress as it helps marketing
- Not disposable fashion & ethically sourced
- Sales up 45% - strong demand in all geographies
- Gross Profit up 47%
- Net cash 344.9M
- UK 37% up, US 83% up (HUGE!!), Rest of Europe & RoW all growing
- Cashflow strong +147M
- PLT fully owned
- Oasis & Warehouse fully integrated
- Customer KPIs - more customers +4.4M with 34% increase in orders!
- Increasing Capex Burnley & Sheffield spend to achieve 3.6B sales!!!!! WOW!
- Guidance 28% to 32% growth for FY upgraded - nice!
- VERY COOL video on all their 9 brands!
- 36m followers on social media
- Lots of new celebrity influencers
- Brands cover 13 -45 years of age
- Karen Millen & Coast growing & brands extended
- Launched TV advertising this year
- Oasis & Warehouse targeting every & urban women
- Very strong platform to deliver change close to achieve 1.5B sales through 9 brands
- Strong financial position
- Q&A