Member Info for Buffaloben

I appreciate the virus hasn't gone away, and I'm a believer in we will be looking at ways to live with it before it does.

What we have now, if deaths continue to reduce or stabalize is the protection of the NHS and crucially statistics we can trust. Who it affects and who recovers? Etc

This can lead to a strategic lock down of high risk groups till a vaccine is found. If I thought we would be in lockdown indefinitely I wouldn't be investing in the stock market full stop.

https://www.google.com/amp/s/simplywall.st/stocks/gb/retail/aim-boo/boohoo-group-shares/news/do-boohoo-groups-lonboo-earnings-warrant-your-attention/amp/

Another day of significantly reduced deaths in the UK. Another couple of days like that and it might suggest Friday was the peak. Only a 5% growth of worldwide deaths too which is the fifth day of only single digit growth.

It's looking like today will be another day reduced deaths of around 700 in the UK.

If we get another couple of days of declines or significantly below Fridays peak we could see BOohoo continue to rise in the run up to results.

Is the spread always this wide. I know its early in the day but 20p?

I think it's a pointless debate to raise that comments on here have any bearing on the SP current or future.

At these levels anyone buying, providing we get a fix on the virus or learn to live with it soon, will see a handsome profit. If your a buy and hold theres no reason to even look at the SP daily.

If your a short term trader, like me, then you cant be arrogant and think your entitled to catch every penny by catching the bottom and top in every trade.

I would be worried about the state of society if we hit as low as 100-120!!

20-25% reduction in overall sales.

20-25% in the last 3 weeks for ASC compared to same period last year. Lockdown will be extended so that figure will only grow.

I cant see flights resuming till August. Festival period would be missed too. Great stock to trade bought and sold in 24 hours and made 12-13%.

Good thing is with short term trading this stock is if you get the timing wrong you know your good in the long term at these levels.

We may see the true market reaction tomorrow as results published after market close.

I'm certain we will see the £3.30 + but it's going to be a bumpy ride.

Could well drop in coming days.

ASC results out - COVID 19 has had an impact

COVID-19 has had a significant impact since the end of H1

·      Demand has been significantly impacted since containment measures introduced; group sales down c.20%-25% in most recent three weeks of trading

·      Most markets following pattern of demand shock before impact partially moderates

·      Disruption to product sourcing from China is minimal; closely monitoring European sourcing

 

Action taken to support our people, customers and our business

·      Priority is health and wellbeing of our people and customers

·      All warehouses remain operational, but at lower capacity with effective social distancing measures in place

·      Head office staff working from home where possible, but continuing to support our customers

·      Discretionary costs and capex reduced; intake aligned to demand profile

·      Appropriate use of government support including payment deferrals and job retention schemes where available

·      Stress testing of scenarios indicates we have sufficient liquidity under our existing £350m RCF

 

Additional financing announced to further protect our business and position us for long-term growth

·      Finalising discussions to secure a £60-80m 12-month extension to RCF with covenant adjustments to ensure additional operational flexibility through the crisis;

·      Proposed placing of up to c.18.8% of issued share capital to protect against a prolonged downturn and to position business for long-term growth

 

Nick Beighton, CEO, commented:

"ASOS had a strong start to the year, making significant progress against the priorities we set out and delivering a better than anticipated first-half performance, driven by the operational improvements we are making to the business.

Along with other businesses, we have been significantly impacted by the COVID-19 outbreak. Our first priority was to quickly put in place the necessary measures to ensure the health and wellbeing of our people. I have been extremely impressed with the pace of change and the flexibility our teams have shown in adopting these new ways of working. I'd like to thank them all for the way they have responded.

Since then, we have been focused on keeping our business delivering for customers whilst implementing a series of actions to mitigate the sales impact we have been experiencing. At the same time we have been working to strengthen our financial position, including reaching agreement with our lenders to provide us with additional short-term financial flexibility.

The ASOS business model provides us with significant resilience and we are encouraged to have seen, across our markets, that where consumers are in lockdown, ASOS continues to be an important part of their lives. We have a global platform with the capacity and capability to drive our future growth as demand returns and against that backdrop we are looking

On the basis of falling numbers in Italy/Spain and hints of lockdown being relaxed in the UK if we plateau in the next fortnight, I'm in for 6K for now.

Likely to trade in and out if I'm honest unless a silver bullet cure is discovered.

Yeah I have been cautious and will continue to do so. But on the basis of reports pointing to a relaxation of the lock down in weeks if we plateau in the next 10 to 14 days, I've jumped in with 6K worth with more money waiting on the sidelines.

Nice rise today so far.

I'm expecting the lockdown to be extended with notification mid week.

Thanks.

Tipped in IC on Friday.

What worries me slightly are liability claims from staff.

Hi.

When is the trading update due?

Be interesting to know if their gift cards see a spike in sales. Indicator of brand/company loyalty after this.

It's likely this will go lower before it goes higher.

Spain have extended their lockdown to the 26th April. I'm sure much of this is priced in but your still likely to get a further leg down once its formally announced here.

Further disruption ahead for any company. But I would say communication is a key worker territory. There are already concerns about the health, mental and physical to these lock downs. Take away people's ability to communicate and your going to compound that significantly.