RE: Q4 results next week?19 Apr 2025 09:07
"I am not convinced he has a plan for Boo or PLT. I am worried when he says there is a lot to do. We have had 3-4yrs of double digit revenue declines.
Mgmt promised to “release shareholder value for all stakeholders” last Autumn.
No plan. My investment in Boo has halved since the BoD ask me to vote for them.
I’m angry."
Beautifully put, FED1. A quick flip for me turned into investing Vietnam. I added more to reduce my average (unwisely in hindsight), and there is now a rapidly increasing likelihood that (if the worst case scenario materialises) I'll lose everything that went into this. Yes, risk exists in every investment, granted. But you do expect the management of the company in which you buy shares to be truly acting in its best interests with every decision, and showing conviction when change is necessary.
My discontent stems from the fact that, the entire time, during all the results, all the meetings, the messaging was very positive. "The business is strong", "The future is bright", "We're turning the corner", that sort of thing. Management had the covering excuse of pandemic recovery and macro conditions. We now know that to be largely discredited. I'd guess that wider economic challenges are responsible for maybe only 15% of the company's issues, and the other 85% to straight up mismanagement. If you're a clothing retailer and people increasingly don't want to buy your clobber, you'd better address that quickly. Instead, there was no action for three years. And on to capital. They went on a mad trolley dash of brands and properties, seemingly without any coherent thinking about what and why. Now flogging them at a tear-jerking loss. Year after year of ever declining results, an ever sinking share price (without a retrace) and yet the management behaviour was that there's nothing wrong at all.
The shorts got in and stayed in because (like the shrewd operators they are), they sense utter BS a mile off. The only beneficiaries over recent years apart from shorts have been the management themselves and the revolving door of CFOs and CEOs, complete with their multimillion pound welcome and goodbye packages.
But hopefully these looky-looky watches do the trick.
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