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Https://www.retailgazette.co.uk/blog/2024/04/frasers-manchester-office/
“Due to the challenging economic and trading climate, there is a need to continue to review resources and operations to ensure that all group companies are operating efficiently and cost effectively."
Ploughing the thick end of £100M into Boohoo thinking that the outfit will turn around sharpish, only to find it continue on its merry journey along the bottom. Now weighing on Frasers like a pair of concrete wellies, prompting painful choices for existing operations. Ashely must be feeling mugged off yet again, first over Debenhams, now through a business value trap. Sure to rankle.
Wow, Daytradenovice, quite the posse of admirers you have here, eh?! All of them lured by tales of milk, honey, and fortunes to be made. However, full of resentment at the resalisation that the company is (at present) an appallingly mismanaged turkey, and they're trapped, possibly forever at their averages.
"The point I'm making is that, just looking at the day to day running of the business it remains in the blue. Revenue less cost of sales and operating costs is a positive number.
Depreciation and amortization are now significant numbers but the actual costs were largely incurred several years ago with automation and brand purchases and will have little impact on the actual business going forward.
So the numbers aren't entirely terrible which the market cap implies.
There remains an underlying viable business"
Oh my dear God, it still hasn't sunk in, has it? The business is wrecked because despite its operating profitability, the board consistently obliterates this with ill-judged acquisitions, write-downs, write-offs, chasing the dream with poorly thought-out facility investments/closures, all sorts. Until this is corrected, expect many more woefully underperforming years. Rest assured, the top bods will all take home millions regardless.
So, Coasty, you weren't pumping Superdry, you say? Merely a humble in-and-out share trade?
Seperate posts:
"Off to celebrate the meteoric superdry rise now😎"
"The rally over at superdry is exactly what will happen here at some point....."
"Feb 2nd: Superdry only had a 1. 5 percent short aswell.... Look at that rally...."
I sincerely hope that your heralded Superdry rally does NOT replicate itself at Boohoo. Conman.
"Why would it? Superdry has massive debt and huge high street costs. Not to mention a crap brand.
Boo has none of those things
Pls explain your reasoning bon Scott, assuming you have any?"
Because Coasty hailed it as a stellar recovery play, that's why. Take it up with him.
"Let's hope this crap doesn't follow Superdry, £20 share a few years back now 5p and de-listing. Dunkerton getting it back cheap."
But, but, Coasty was adamant that it was flying and all was well? How can this be? Conned again?
Tradey, you're a legend in your own mind, honestly. If Boohoo's website visits are so superior to ASOS, why is the business doing so poorly, and hence the SP languishing so?
Next you'll be lecturing us that business performance and share price are unrelated anyway. Oh, wait, you already did recently:
"SP and business aren't the same thing"
"The 19% you refer to as a sales decline was actually a figure given in the article with regards to the SHARE PRICE decline. So, nothing to do with sales at all. "
Oh dear, that's rather embarrassing, Tradey! But knowing that you 've clung desperately from the 400s to the 30s, clinging on even when blatantly wrong is exactly in keeping.
Waiting for you to go the full Charlie Bronson, like Alex and the Spunkmeister did over the weekend.
"As I said, on a like-for-like basis revenue is likely to be back to pre-Covid levels and the revenue is currently not enough to cover overall costs. "
Absolutely right, Hexam. For the life of me, I can't understand why the company can't be more aggressive in reducing its cost base. Act earlier and cut deeper. Not three years later than necessary. Their forecasting was exposed as being absolutely non-existent during and post-COVID. Stop opening/closing white elephant facilities in rapid succession at a loss of tens of millions a pop. And stop hoovering up defunct and distressed brands, all fuelled by debt, and adding yet more years to the recovery timeline.
At this stage, I honestly think they pick their business ideas out of a tombola hat. What will they attempt next? Bringing Rumbelow's back? Oh no, I shouldn't say that... I might be giving them them ideas.
"There is no reason for BooHoo to go anywhere until we see a string of improving results. No point in getting excited about spikes in the SP or plunges if it is not based on any company specific news.
As for bickering, my only comment is don’t engage with the fake multiple alias poster, and we might actually get a more productive board."
Well Alex, for the umpteenth time: if your ego can't bear to read what certain people post, then the filter feature would be the solution. But you don't, and you won't. That tells its own story!
"Reardon - people like mahmud are the cream of the crop in business....
You have absolute morons here trying to talk like they run companies when they couldn't even run a tap....
Day in day on this forum.... "spot on" "exactly".... Etc etc.... Wasting what little life they have left.
People here with the correct time frame will make an absolute killing.... Others will just die off with time...."
Is everything OK, coasty? You seem upset. Nobody forced you to buy all those shares in the high 300s. Nor will bleating on about a return to past glories when there's zero evidence of it happening. And what's the "correct" timeframe? 2029? Nine years of being locked in, while the rest of the population makes hay with other investments?