The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Of coiurse I know all the subsidiaries both 100% owned and partial. I can hardly be accused of negativity recommending the Warren BUffett buy and hold strategy. Not only am I keen I have a holding in my isa bought at 220 and am more than happy with it. Excited even.
You didn't even know BruceJamieson that Boohoo owned 66% of PLT before buying the remaining 34%. You'd thought Boohoo owned 100% of PLT before the recent announcement. So please spend your time reading and researching Boohoo. Then you'll be up to date instead of spending time on here having a go at posters who are posting relevant information to do with Boohoo. Go find something positive to do instead of spreading your unwanted negativity on here with your mean criticising of posters. Try reading the weekend Financial Times from cover to cover, you'll learn loads and give the rest of us a break.
You have a lot to learn about shares BruceJamieson if you think general economics, european markets and worldwide markets don't affect share prices and in particular Boohoo share price. Maybe less of your criticism of posters would help us all on here too. Try not to simply react to posts, don't just read them once and then complain about them, read them a number of times, think about how they might affect Boohoo and open your mind to learning beyond your own limited sphere of thinking.
This general economics post affects Boohoo and you should be interested in what it says about furloughing. Try reading it in full before commenting.
This is meant to be a board about Boohoo not general economics
Chancellor Rishi Sunak has announced details of the tapering of the Coronavirus Job Retention Scheme and extended the self-employment income support scheme. Employers who have furloughed staff are currently receiving 80% of each person’s pay, up to £2,500 a month. They will continue to receive this for June and July, then from August will be asked to pay national insurance and employer pension contributions, Sunak said. In September, the government will pay 70% of the furlough wage, with employers asked to pay 10%. Then in October, the final month of the scheme, the portion paid by the employer will rise to 20%.
"The proportion of clothing sales spent online soared to the highest on record in April 2020 at 30.7%, which compares with the 19.1% reported in April 2019."
As all the shops were closed I'm amazed the figure isn't even higher. Where were the other 69% of people buying their clothes?
For me also, nothingisworthit, it's too much of a risk and far too stressful to be jumping in and out of shares. I'd rather just ride through the ups and downs and look towards the long term future of Boohoo - which I think will be excellent.
The proportion of clothing sales spent online soared to the highest on record in April 2020 at 30.7%, which compares with the 19.1% reported in April 2019.
From the Office of National Statistics
In a month where spring buying would typically set in, online clothing sales plunged 23.1 per cent year-on-year in March, according to the latest IMRG Capgemini Online Retail Index. This refers to March 2020 only and it's for all online clothing sales and not specifically Boohoo.
As far as I can remember it was in the last Annual General Meeting on 22 April 2020 where double digit growth of between 10 -20% was expected.
Peoplepower1 ... yes you are right the 23% was referring to March / April. Whilst I have read there was a recovery I didn't see where it said that it was 20% better than the same time last year?
Be grateful if you can direct me to that information.
Thanks
pookookachoo .. yes it was a reply to you.
Personally I think there will be a correction across the board in August. When the people who are all on furlough who think they are returning to their job in October suddenly get made redundant.
I guess it depends what your strategy is (yes I know everyones is to make money) and what your entry point is. I have been in for a long time. My first buy was at 56p - so for me it is too much of a risk to be jumping in and out. I rather just ride through the up and downs and look towards the long term future of this company - which I think will be very bright.
All the best to you as well.
Boohoo Group PLC has said group sales during April are ahead of last year, recovering after an initial plunge in mid-March when the coronavirus pandemic spread across Europe.
From Proactive Investors on 22 April 2020
Exactly what Warren Buffett recommends for a simple concept and cash generation. This ticks all the boxes
nothingisworthit - I haven't read anywhere that Boohoo have said their sales are down 23%. The opposite they have said their sales went down at end of March/beginning of April and then picked up rapidly for the rest of April and May. I think they said they expected sales growth of up to 20%.
Yes you are right the short term growth will not continue at the previous rate. Boohoo have themselves said that sales during this period are down 23% compared to previous seasons vs retail shops that sank by over 25%. Not a huge difference, but BOO don't have bricks and mortar to be paying rents and inflated rates.
But as always it is about the long term outlook and the sentiment. There are multiple advantageous that makes BOO a positive buy. For me it is that it has good liquidty and cash reserves. Better than any of their peers - the fact that they don't have a lot of inventory in stock - 60 days vs 150 days for ASOS.
This also means it has greater flexibility to can be much more manoeuvrable to alter their inventory. Which is exactly what they have done during this lockdown period. They have changed from party going formal wear to lounge and comfortable wear which has helped mitigate further poor performance. However it has to be said just because people are in lockdown it doesn't mean they haven't bought clothes - though of course at reduced quantities.
I guess what this all means is that they will come out of this in a much stronger position than their traditional high street competitors and their online ones. The competition will also be reduced - due those not surviving and BOO will probably have acquired some of the good ones as well.
So for me the outlook is good and strong and people are buying with the future possibilities in mind.
For me, I don't have a diverse portfolio. I have done this in the past and found it too hard to keep on top of it by keeping up to date on each share. So now, I have two shares only and am able to keep on top of all the research and keeping up to date with each of them. I've learnt so much more from having two shares. This may not be for everyone however it suits me well. For me, it's all about doing the research thoroughly.
Got to agree, think this share still has great potential, no matter what. Have taken some profits to pay off debts and averaged down on other shares when the virus caused meltdown. Actually managed to break into profit this week with SAGA and Lloyd’s. Trying to hold a diverse portfolio...lol
furry65 - I bought in 2015 and held them through every bump in the road. I will be holding them for at least another 10 years and probably more. I've learnt loads from holding Boohoo through all the bumps. For me, that's how you make the real money. It is by finding a good share and sticking with it through thick and thin. Researching it throughly before you buy it and continuing to research it thoroughly by keeping up to date on it while you own it.
Have been invested in here since Jan 2015. Bought and sold several times and have paid as low as 24p and up to £2.70 for shares. Watched in disbelief as share reached highs only to plummet on several occasions. However, still one of my best investments apart from RKH, (until they went very south). Can’t understand people who continually praise or beat up this share when they admit to not even owning any. Happy with my remaining shareholding and believe shorting shares should be illegal. Are rarely post on boards.......lockdown must be getting to me..lol
Maybe some woolworths or HMV?
Easy answer answered numerous times before. THIS IS NOT FASHION. It is essential kit for youngsters. How hard is this to understand
N.
Poo - I mean this with respect. But if you don’t know the answer to your own question, you shouldn’t be invested here and probably should go invest in some bricks and mortar companies. You not really in touch with Boohoo ‘s target market
My friends have girls in their teens and it’s all they’ve been doing, new outfits every time I see them in a pic, constant deliveries all week. Matching combo’s, complaining that if they don’t buy it sells out. I think we may be in for a shock when they post their results just how well they’ve been doing in lockdown.
The competition is dead.
The older of the girls says it’s all about PLT, so she’s 17 and classes boo as an older audience. It’s quite fascinating to hear how much they bang on about influencers and what they are wearing. I’m 43 and it seems like a different world to me. They were mortified when I told them I had shares. “Why would you have shares, you’re old”
In part because the virus has removed a lot of the competition. Boo were already leaders online before the virus, now that online is the only option they are leagues ahed of the competition. I get that you don't believe that young people are still buying clothes, but they are. Im in my 20s and live with others in their 20s, deliveries (of all kinds) have gone up massively during lockdown.