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Revenue probably won't be before July Zag, but news will be. it wouldnt totally surprise me if they do a corporate update, with some numbers, way before July

You see Kat, that's where I think you are wrong.

Just look at the uplift in volume each time they start to raise the sp. It's a shame they don't continue it.

Lots of news to come and it will be before July. News and revenue will drive this, profit isn't required at this stage, although it will most likely come this year

Amazing how so many people have the same view bar the ramper mafia on here who are disappearing.

Who are these people? I only see you, kat and Zag Arthur. It's hardly a mass movement is it. What happened to your 1.2p, supposedly you are never wrong. In your own head anyway

They have told so many porkies in the last 6 months when backed into a corner by frasers.

Maybe you could name a few?

I'd agree they need to communicate about the capital markets day

There are virtually no sells now Kat, so why would 1.5p change that.

Let's see the sp go back to as little as 1.7 and the volume will massively increase on the way up.

That's not an insult kat, it's a simple explanation.

Why 1.5p, why not 1.2p?

It's just arbitrary numbers for no apparent reason.

If an existing down trend is attracting buyers, why would a greater down trend attract them.

The more salient point is, this price point and trend is doing nothing. When the SP started to rise, so did liquidity, the MMs should encourage it, not stop it for no apparent reason

Hexam. There is no "may" about it. GMV always drives revenue.

its why it will always be a key measure for any market place business

If you understand the market place model, revenue is driven by GMV. Most market places lead with gmv as a kpi. Shein, for example does.

wrt guidance, this is what the half year said.

In the second half of FY25, the Group expects a higher GMV and a stronger adjusted EBITDA performance, when compared to H1 25, despite further investment into the brands to unlock shareholder value.

The actual numbers refer to both pre and post returns gmv, so the guidance could reflect either.

As stated a few times now GMV is a valuable number and post returns is the better number

And once again you prove how little you understand....

As usual you avoided the question Hexam

Post return GMV is far more important to me.

The last time I checked yesterday buys outnumbered sells 2:1.

That is massive to me.

It's strange that a supposedly seasoned trader is so ill informed about the MM role Kat

Yes Hexam, as i said i was referring to the half year guidance and GMV did grow compared to H1

Don't you agree that that post returns GMV is more important than pre, as it's the number that actually drives final revenue

Actually Kat they do buy shares, most MM'S fulfill several roles, which is one of the issues with the AIM market. For instance Shore Capital owm 12% of GWMO.

But putting that aside, they create trend and narrative from their pricing. For instance they know how buys and sells will be interpreted and their algos will tell them likely volumes at different price points. Take yesterday as an example, buys massively outnumber sells yet the sp is down. What narrative does that help create.

Got to love the old "market reacts" line.

There is no such thing as a generic market thought Arthur. The short term price trend is determined by the liquiidity the MM's create. As can be seen by the current almost complete lack of any volume they have royally messed up here. Whether by intent or incompetence who knows.

Longer term sp should be driven by fundamentals.

Do you think a nine time increase in revenue is anywhere reflected in the market cap. Do you think paying for Bake in cash is reflected in the current market cap? Why are you so focussed on integration? We already know the potential benefits of Bake. They have been stated in the customer numbers. Integration should give an additional benefit but are you saying the core customer numbers are reflected in the current market cap?

Thats a fairly unique take Kachrafilter

The way to relaunch a brand and drive sales is by cutting marketing.

I wonder if that has ever worked anywhere

Hexam pls go and reread my post.

My statement was specifically about H2 GMV being greater than H1, which is all the guidance said.

Post returns GMV, which is the most important number imho, was indeed up.

Nope Hexam when I said now, I meant now and going forward.

Sorry for any confusion

Hexam a couple of days ago you were agreeing with southcoast that performance was far worse than expected, with revenue possibly less than £1.1bn.

You were wrong then, let's wait and see what the half year results tell us about market place revenue.

Incidentally, did you notice that H2 post returns GMV was up.

The revenue from the labels has been falling off a cliff for 18 months. It will be becoming a smaller and smaller proportion of revenue each quarter, especially after returns.

The number of brands on Debenhams is now above 15k, so that's 50% up since the half year report.

I'd guess that revenue post returns from market place is now greater than labels.

Well, the market really responded well to today's update, didn't it?

4m shares traded all day would imply the market did nothing today.

Much like you and your life id guess