Member Info for Bfdinvestor

Not quite true southcoast

Umar bought after Frasers started accumulating.

Other members of the family must also have been buying, otherwise they wouldn't control 23% of the shares.

Wrt staff, the Feb 24 accounts show that 3000 staff were involved in distribution, so I'd guess the number is nowhere near that now

Id guess you are also underestimating the commission charged on the most popular categories on Debs.

Estée Lauder, as a simple example, has a gross margin approaching 80%, so I'm sure they will offer higher commission than you suggest

Hexam why seek to pick an argument when it's not necessary?

Very revenue figure states clearly that it includes all sales.

Hexam

Firstly I'm not T4G

Secondly go have a quick look at Very. £2bn revenue which I think is GMV, £200m operating profit before exceptionals

Yep that's right I think enki

My view is it cost £2-3m

But, given where we have come from, to pay entirely from our own funds shows we are progressing very rapidly

Once the infrastructure is built there is very little additional cost, so no way will overall margin be 2% in the long term

Just go and do a little research on what online market places actually make Hexam.

It's anywhere between 5-20%

As the mix changes toward more market place than owned brands it would be logical to expect the margin to grow as the infrastructure doesn't need much if any additional investment. Typically the margin should be c10%. As the major product categories are higher end and higher margin.

So 0.5bn GMV gives 50m profit. 10x profit as a market cap doesn't seem excessive although 20x does.

So whilst 2x GMV seems unlikely 1x doesn't

Arguably Ashley has done more to suppress the sp for the last year to look after himself than he could ever benefit anybody.

Nobody seems to be able to explain what he will bring.

Every online brand he has touched seems to fail, as for the fashion brands he has bought and now only reside on dusty rails in sportsdirect

As far as we know the share of votes commanded by Ashley and the BoD are broadly similar. In fact the BoD probably control a few more.

This vote will be decided by the Ii's not the Pi's. If the Ii's follow the advice from ISS then the two Mikes will most probably lose.

I've yet to see a compelling reason why anybody would vote for them

Ashley to me just spells division and self interest so I wouldn't vote for him. Lennon I'm minded to vote for as I think a Frasers voice on the BoD would be a good thing. So I'd be voting for the principle not the individual.

This vote is actually of little importance to me. The more interesting one is the potential next one, to remove Kamani.

To me that is a step too far. I think that shows Ashley's true intent. He wants overall control, he wants revenge on Kamani and ultimately he wants Debenhams.

Id guess if Kamani went other directors and the rest of the Kamani family would follow quickly.

Kamani has plenty of faults but ultimately he understands this industry in a way that Ashley doesn't. But more importantly Umar leaving would be a massive blow to PlT. He seems fully engaged in turning it around and the decline didn't start until he left.

The likes of Shein don't even produce supplier lists, so it's impossible to know what they are up to.

The only way is to enforce tariffs on them to create some form of level playing field

So you genuinely haven't got a clue about a bear case here then Scarlet

Good to know thanks

Scarlet what is your bear case so many more better researched people can remind you of what you do and maybe you will explain why you do it and get things so calamitously wrong

Neither

Quite possibly but I think we will see an Rns or maybe two before the vote

Big boys garnering their last few votes Jeremy

Southcoast I'm sure that when Umar bought 3% out of his own pocket not so long ago, it was with the people intent of losing it all by putting the business into admin.

That, after all, is a great plan for becoming seriously rich!

So you still have no intention of buying even a single share then Simon

This is still 40% below all time high and has been climbing steadily, so hardly a spike.

Who are these supposed pumpers. Most of the regular posters have been here for atleast a year, so don't meet your description at all.