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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 :)
Https://www.bloomberg.com/news/articles/2024-04-17/asos-sees-higher-profit-next-year-as-turnaround-gains-ground
expects profit to rise in its next fiscal year as the online fashion retailer’s turnaround starts to take hold.
The British clothing platform said efforts to cut costs and reduce a stockpile of unsold clothes were helping to get the business back on track as it reiterated its outlook for the current year.
Cutting the amount of stock it received by 30% in the first half was the “medicine we needed to take,” even though it meant fewer new clothes, said Chief Executive Officer José Antonio Ramos Calamonte.
Shares rose nearly 10% in early London trading as investors saw signs of improvement, but they’re still down 15% this year.
Asos is trying to reverse a slump in sales as shoppers slowly return to bricks-and-mortar stores. The retailer is making progress in clearing old stock through heavy discounts, but that’s putting pressure on revenue, which fell 18% to £1.5 billion ($1.9 billion) in the 26 weeks to March 3.
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Asos also announced Dave Murray, former chief financial officer of Matches Fashion, will become CFO, replacing interim finance chief Sean Glithero. Murray left Matches Fashion after the company collapsed earlier this year.
Now Newboy has sold, SP can rise lol
Tweaks ASOS target to 490 pence - ‘buy’
Great Opportunity to buy any dips provided!
Pretty much inline with what was expected.
I beleive the media constantly like to report the negatives which really doesn't help the SP.
Shorts and media dance together ;)
About to start..
It's a big ship to turnaround lol. If the SP is this low in 12 months and the company sticks to future guidance/FY25 then we may as well all give up.
We said that last year ;) the SP is still around all time lows, despite the progress made over 12 months. Im not known as a doom and gloomer, and 5% is a good day, but we are still in all time low range
Eh? You really follow the sp min by min? The update was fine and the sp will be higher come this time next year. For now, it will just bounce around.
Just short termism. The company needs to keep doing what they say they will do and soon enough the market will react.. especially when the future guidance starts coming to fruition. ATM it's not reflecting on anything, just what the company expects to happen.
Well that was short lived... Still 5% but they must be seeing something we arnt!
We have lift off guys!
About time.
Frasers don't have a history of M&A, preferring to take over businesses in administration. Ashley appears to have a side line in speculative investing, so he takes punts on what he perceives as undervalued assets. I think his investments are less about takeover, and more about punts.
Yeah which is a worry if you don't think the future guidance and outlook will occur. Otherwise Its a case of sit tight and enjoy the ride.
Today is a day to celebrate, just be warned, we have been here before... we were here a month ago, and we slumped all the way back
Surely if MA/any PE was to make a move the next few months would be the time? Unless they would want to wait until the next update to ensure that the turnaround is working. I am convinced that this would be the perfect fit for Frasers Group as it would give them an additional platform to manage inventory from the other brands in their portfolio