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Alex I agree, when a company states it's performance is in line with expectations with only a few of the quietest trading weeks of the year to go, then there won't be any surprises.

Debenhams is the only really interesting thing in the update for me as I think it is a little early to judge performance in the US.

It's a double edged sword for me. On the one hand I think we may get a lot of negativity as Debenhams will probably drag down the group revenue number. On the other hand, if they deep dive into it's growth in the commentary then we could see the beginning of a valuation that in a year or two will make the overall group valuation look stupid. We have also amortised £25m of acquired intangible assets in the last couple of years, so it would be interesting to know how Debenhams is held on the balance sheet

A significant number and volume of large "unknown" trades today.

Am i the only one who thinks this is being played

Alex totally agree with that

Couple of interesting points to add.

1. We have been told that Debenhams is now profitable

2 These results only go up to the 28th February 2023. Since that time Debenhams website visits are up more than 50%.

The question to me is what is Debenhams now worth as one of the UK's best known brands and now a profitable business

Alex my post wasn't directed at you, there have been plenty of posts on here about Frasers buying Boo.

I don't think Shein buying Boo is likely for a couple of reasons. Firstly the Kamani family plus the BOD control c25% of the shares, which would make a hostile takeover either unlikely or very expensive.

Secondly, whilst it is one thing for Shein to buy a failed brand with no customers, it is an entirely different thing to buy a bunch of brands with significant online market share and popular brands. I believe that it is likely that so much media would be drawn to any takeover attempt that government intervention, via the CMA, is more than likely.

I do, however, believe that interesting times are ahead, just not involving Shein

I'm not sure why anybody thinks Ashley will buy the whole of Boo and, if he does, he would sell it on to Shein.

Buying Boo would cost literally billions and I'm not sure Frasers has that kind of cash. It would be well in excess of two years of their profits.

His only interaction with Shein has been to sell them a useless brand that was costing Frasers money, it doesn't signify anything apart from a good bit of business imho.

Why would he sell performing brands to a competitor and potentially damage his own business, which is still largely UK based.

So the whole argument doesn't make a great deal of sense to me. It would cost to much and create a new risk for Frasers.

To me it's most likely that it's long term investment to bolster Fraser's balance sheet. Failing that, it's more likely about a spin off of Debenhams and Arcadia brands imho

I wonder why we bothered to recruit a new commercial director

I'm sure he is just going to sit on his posterior waiting for a placing,rather than go and bring in some new money.

Tommy no teeth always gets it wrong

Daytradenovice it's hard to believe that any supposed investor doesn't understand what annualised overhead cost savings means!!

Didn't you check any of the plethora of articles citing Boohoo management redundancies.

I guess your lack of basic understanding also explains why you posted that Kamani was part of the growth plan.

No point responding to you any further, especially as you just resort to evasion and childish name calling.

Far better things to do with my time, I'll leave the squabbling to you and your regulars, as it doesn't interest me at all.

Have a nice night

Daytradenovice pls just simply Google Boohoo management redundancies and you will see a whole plethora of articles appear

Alternatively, what do you think this paragraph from the half year results means?

Identified more than £125 million of annualised cost savings across cost of goods, supply chain and overheads, to be delivered across FY24 & FY25, supporting a disciplined reinvestment programme

Hexam i see you have failed to address my point about why, if you challenge others with such granularity, you totally ignore daytrade's complete lie about Kamani being part of the growth plan?

I could ask you the same question, why is it so important to you to challenge that it is a voluntary redundancy scenario? But that would just create a circular and pointless debate.

The reason why the redundancy point is important to me is quite simple. Senior managers leaving a business through redundancy, as part of a structured business redesign is a positive. That is clearly the scenario here. A bunch of senior managers choosing to walk at the same time is a sign of a business in a bit of turmoil. That isn't the scenario here.

I'm more than happy to discuss the business, I'm not into name calling and pointless personality posting.

Have a good evening

I'm interested in how people leave a business for a very simple reason. Senior managers departing via redundancy as part of a structured business redesign, as has happened here, is a positive. A whole bunch of senior people choosing to walkz which hasn't happened here, is not a positive and indeed is a sign of a business in a bit of turmoil.

Hexam you are playing semantics for no apparent reason. And I didn't refer to McCabe at all. I was commenting on Jeremy's post referring to the four directors, not the board change.

I have never known anybody in a senior management position take compulsory redundancy, unless the business is going under.

Boo has stated it is making redundancies in management, the fact it won't comment implies NDA's have been signed. That only ever happens in a voluntary redundancy scenario.

If you want to challenge posts with such granularity, I'm surprised you didn't challenge daytrade's complete lie that Kamani is part of the growth plan.

Anyway this debate is getting a little silly now, and it's not what I usually post on boards for, so time to move on.

Hexam, my only interest is the situation here, which is clearly a case of voluntary redundancy, as that is what the company has stated it is doing.

Great post Hyper.

Smartpunter you need to have a long think about your username!

Hexam much as I appreciate your input, your are wrong here.

A shake up, with people departing and a company having already announced it is making managerial redundancies, by definition involves people leaving via voluntary redundancy.

Compulsory redundancy is virtually never a viable option and a whole bunch of people would never resign and leave in this way without a cheque.

The situation here obviously isn't just people changing jobs, so what would your alternative theory be

Daytradenovice, you have clearly never worked for a large company.

A leadership shake up always involves redundancies.

The fact the company doesn't comment means NDA's have been signed, which once again means redundancies.

Boo has stated consistently since early to mid 23 that it is making management redundancies.

So, as posted before, it is clear that they have left via voluntary redundancy

What is your alternative theory, or don't you have one?

Good stuff Bamps, definitely more salt showing, which has to be a good thing!

The article from Drapers makes it clear that they took redundancy, how else would they depart as part of a "leadership shake up"

A raft of senior directors have departed Boohoo Group amid a leadership shake-up, Drapers has learned.

BY ZOE HU

23 JANUARY 2024

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EXCLUSIVE

Boohoo x Kourtney Kardashian Barker

Sam Brocklebank, trading director, Marie Laskowski, wholesale and product operations director, and Claire Asher, product director are understood to have departed Boohoo Group.

Samantha Helligso, CEO of MissPap and brand director of Boohoo Group, is also believed to be leaving the group in the coming months.

It comes as Boohoo Group appointed Stephen Morana, former Zoopla and Betfair executive, as CFO, replacing Shaun McCabe, who exited "with immediate effect".

Boohoo Group said McCabe had stepped down from his role and the board "by mutual agreement".

McCabe joined the board in October 2020 as an independent non-executive director before he was appointed as CFO in October 2022.

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Boohoo Group declined to comment.

A regular stream of positive RNS would be far better for maintaining a positive sp trajectory imho

Yep that would be my reading of it, obviously the valuation will change as the project nears maturity. But so does the opportunity for creative accountancy

I think you are all missing one key point of the contract.

Any money paid to the counterparty will be a net sum after all of Aliens costs. I'm sure a smart lawyer and accountant can use that to broker a good deal.

Let's hope we now have some such!