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Thank Ian. Fair point, although it’s clearly a dilemma so many companies is/will be up against, hence the worries about 4m unemployed. I hope this company can manage without wielding the axe.
Just had a quick look at rns, only 30% of staff were furloughed when covid hit in March, 70% continued to work -
Cost savings - The Group took swift and decisive action to maximise operating efficiency and strengthen liquidity. As a result, operating costs declined 42.6% in the first quarter, **significantly more than the reduction in revenue***
. The majority of these savings were in Marketing costs but the Group also reduced Warehouse & Fulfilment and Admin & Payroll costs in the quarter. This is further demonstration of the Group's agile and flexible operating cost base.
The vast Majority of cost saving is reduction in advertising and not paying dividends. They are not actually that far off lasts years levels now and thats with little or no advertising.
Checkout the website, advertising 54 positions Too be filled.. hardly The sign of a company that needs to make redundancies. A lot of the vacancies are geared to growing the business.
https://www.jobtrain.co.uk/jdwilliams5/vacancies.aspx?_ga=2.252932169.1519594584.1601561433-242240350.1601561433
Some of the cost savings will have been achieved via the staff furlough scheme which ends about now. Will they now look at redundancy measures or absorb a significant increase to costs...?
Bladey guidance is never issued in a quarterly trading update. Interims or FY results. Most companies have removed guidance during covid as did Bwng when it hit.. .
Boo did issue guidance yesterday in their interims though, from memory 3% ish up on previous.
Bwng are managing covid really well, even if they continue along at similar profits to last year (£27mil post tax ) they are still conservatively worth in the region of £1.20- £1.50.
Still waiting for the placing that poster said we needed back in june at 28p..
Simple, is the fact you've an agenda lol. Guidance has already been taken on-board, or do you expect the Bod to spell it out for you in every RNS. They're focused on change-over and company progression and that's evident.
There just wasn't the need for you to leave a turd as you exited.. therein lies your simple mentality.. just move on ffs
Bladey, don't be simple. They didn't raise guidance and that's the problem.
miti1000, your post 14th Aug:
"Worth looking at VERY's results yesterday which bode very well for BWNG imo. Probably explains the sharp rise here .I'd imagine the Home Essentials division is flying. Clearly rerating going here on top of that for ecommerce retailers with results coming in so strong.
Hopefully will get a trading statemnt with the AGM at 13/9......that should raise forecasts one would hope."
....Clearly your posts are agenda driven, so now you just want a cheaper entry and it's as simple as that. Scum post!
Reality is they failed to raise guidance or beat expectations when they should have been flying. They have had a good run and should now drift back to low 40's .Sold all mine yesterday.
IanB, your comparisons on PE with boohoo or asos are embarrassing .BWNG have got here by a massive cost cutting and that's mainly done now.
Needs to break and hold above the 200dma which is only a couple of pence up... could see a good rise then 87p on charts..
See the post yesterday by pauloff, 1457 hours, this is worth 96p on net assets with a good profitable business thrown in for free
Alright misery guts
I wouldn’t be surprised to see sub-50 again.
Sorry, "Their", Sp...as opposed to "They're"
There's no need to speak to Boohoo fools, they're SP speaks for itself... you should've heard them on Sunday..."£4...£5" by Wed... Well Wednesday has come and nearly gone and traders will bore themselves and move on which could see Boohoo shares dip further back. It's a bloated B.o.D catering for themselves with an amazing flashy lifestyle rather than looking after shareholders. Complete opposite to BWNG.
Is this the ‘read the Financial Times from cover to cover every day’ guy/girl?
If you’re going to just hold for all eternity then why post relentlessly (as if it makes a blind bit of difference to the SP).
Pleased we don’t have to put up with such nauseating and condescending posts on here.
I’m rather hoping people powers comment is confirmation that they won’t be buying here anytime soon.
I couldn’t cope with daily posts on here telling me to research research research and hold bwng in an isa for 20 years and It will make me rich!
Peoplepower - Stick to Boohoo.
N Brown Group PLC - UK fashion retailer - For the six months ended August 19, revenue fell by 18% year-on-year, with 22% drop in first quarter moderating to 13% in second. Product revenue down 21% in half, having been down 29% in first quarter and 12% in second. Says apparel sales recovering and demand for Home & Gift increasing, supported by the launch of Home Essentials brand on April 1. Going in the wrong direction is Financial Services revenue, down 12% in the half, with an 8.3% decline in the first quarter accelerating to 16% in the second. Regulatory changes and a smaller debtor book led to lower revenue from Financial Services. N Brown's net debt is GBP411.1 million on August 29, down from GBP497.0 million on February 29. Gross debtor book stable at GBP632.1 million at the end of August from GBP656.9 million at the end of February.
Read in full and learn.
Yes I concur, excellent trading update, and was as expected!
Boo is plagued by the scandal, hence it is where it is...If it wasn't for that they would be doing much better. You also have to remember it attracted tons & tons of traders at its fall to £2..(including moi, as it was a no brainer), and majority of them have been waiting for BOO trading update todays ...so they'll be off-loading for a while!
Here in BWNG waiting for my £1+ target and then i'll top-slice!
Excellent update for BWNG- just read boo results which are very strong and show the performance of online clothing retailers. Their sp is down slightly atm but i think they will do 450p before xmas..
There is far greater value here when you see the ridiculously low PE BWNG is trading on..
To move any profits from Boo hoo into here.