Member Info for DamayHill

Agree that this is disappointing. This was a 5-10 yr hold for me. The sudden change in tone from bullish independent growth and execution of strategy to circumspect caution and a proliferation of risks that may impede success is absolutely shameless. Particularly disappointed that in Adam Davidson I thought I had finally found an entirely candid and straightforward CEO - more fool me.

Bridgedogg, I also elected for several multiples of my already fairly substantial entitlement and got the lot, which I'm unsurprised by.

e****eker, your lack of understanding of this business and the sector it operates within is astonishing. suggest you go and do some homework.

BillB, is that a joke? This trading update represents about the worst of all the potential scenarios at this stage. A further raise now significantly increased in likelihood, in what is a very punitive market.

I respect that JT77 and good luck to you. Personally, I would say it's about as 'trendy' as Facebook, Wagamama, Burberry and Jacob's Creek.

Yes inbarcelona, very similar to FCUK and also to Ted Baker, another in terminal decline. But I suppose my point is why does this surprise us - that is the very nature of fashion! It's one of several reasons I never invest in clothing brands or restaurant chains. These thing always and have always come and gone.

JT77, it's fair challenge but I'm not sure how credible any Trendiest British Brands report in that has Clark's at No.3! The report is commissioned by a casino operator and based on Google search and Instagram data. Possibly a few minor holes in the methodology there!

Case in point, it's referred to below in a broker note as a 'troubled retailer'. It's a retailer in so far as it sells things but when the only things you sell are single brand items, then really you are nothing more than that brand because you can't, won't and never will broaden beyond that brand, so the 'retailer' tag is a little spurious. It would be like referring to Taylor Swift as a 'music retailer' rather than a solo artist.

Joking aside, I'm not and have never been a holder here and I'm genuinely sorry for those who are because I have been there with other holdings and it's a sickener, but I am always interested in these moments.

hearts makes a good point below. It almost doesn't matter whether the business is recoverable because the brand is dead and has been for some time. It's a classic case of brand over-exposure; the wrong side of brand ubiquity. Superdry joins an illustrious list that includes Cafe Rouge, Anthea Turner, Toploader and the Cheltenham Festival. And ultimately that's the very nature of fashion. Superdry is not timeless in the way Chanel is, it's the opposite. It's a very particular brand of fashion which had its moment, and then middle-aged dads started wearing it and then the world moved on. The brand is unsalvageable.

'8.7p to buy. not retested bottom yet!'

If you'll forgive the toilet humour, I would think a few bottoms are getting highly tested at the moment.

Let's face it, Labour's fiscal policy will be based on what they think they can get away with whilst still being re-elected. It won't be based on much arithmetic, it will be the sweet spot where centrist(ish)-left ideology meets unabashed, professional self-interest. The NI reversal or at least partial seems likely and the pension lifetime cap is one that doesn't get talked about nearly enough. We are, as responsible private citizens, apparently encouraged to think much more proactively and long-term about provision for our retirements. Meanwhile, the parameters around how much it's worth putting into a pension before you get taxed at 55% (!) have no fixed point whatsoever and any government can change them with total impunity. I realise it's a conundrum only a fortunate minority have to even think about, but the party political hokey-cokey on it on is nonetheless completely unacceptable.

If you enjoy guessing and sometimes being right, there's a horse running in the 4:50 at Kempton you might be interested in... Sounds like your sort of thing.

8th April looks highly likely now. Could be tomorrow but that would likely signal iffy news.

Perkylad, expected sales aren't £8.3M - that was the full year revenue figure for 2023.

Full year revenue guidance for 2024 is £23M with a notional split of £9M (H1) and £14M (H2). Q4 revenue for 2023 was £3M (flat £1M per month) and, as I've suggested on another forum, anything under £3.6M Q1 revenue is unacceptable progress, £3.6M-£3.8M represents reasonable progress and £3.9M+ would be positive. A 30% Q on Q ramp up from £3M to £3.9M would see them need to repeat the trick in Q2 to £5.1M in order to achieve the £9M H1 revenue projection.

As for it all having gone quiet, there was no reason to expect them to announce anything between the trading update in Jan and the trading update in April, unless for a further contract announcement but I expect that to come in Q2.

Hi Jman89, this is the key part of the announcement to understand:

The Options vest at the third anniversary of grant if the following vesting requirements are met:

· EBITDA per share between 3.34 pence (10.5 % of the award) and 4.00 pence per share (30% of the award). This is based on achieving between £12.5m EBITDA and £15m EBITDA in the year to 31 December 2026

· Installation of realisable £75m sales capacity (30% of the award)

· Share price above 60p on a VWAP basis for the 20 days prior to the vesting date (20% of the award)

· A commercially confidential strategic milestone providing additional technical excellence, aimed at maintaining the Company's technical leadership in the marketplace (20% of the award)

The vesting criteria are independent of each other, albeit clearly linked if the separate criteria are to be achieved.

Hope that helps.

Hi fevertreeman, as you know I'm not in the same place that you are in terms of calling for heads to roll but I do think it's interesting that sales were £1m average in Nov and Dec. People might say 'oh well it's the holidays so Dec wasn't a full month' but if I was Johnson, Maddock and Easton I'd have done pretty much whatever it took to hit £8.6m even if it meant incentivising staff to work over the holidays. This suggests to me that they couldn't produce at more than £1m per month rather than that they chose not to, and that is a concern.

OK flundra, glad you know that. It's just very different to what your post said, that's all.

Flundra, you misunderstand. The references to £50m and £75m are about sales CAPACITY, not sales (albeit the contracts won take us to those levels but in later years). Guidance for this year is £23m sales and that looks bullish to me.

I wouldn't presume to stop you at all, I was just trying to understand your motivation and purpose. And you're right, I and anybody else who chooses to should simply block you. It's not that I necessarily disagree with some of your observations, but you bring an incredibly angry, negative, malevolent vibe (and not just to this board, your contributions elsewhere are angry and negative too). I feel a bit sorry for you, to be honest. Anyway, good luck.

Naheedout, you genuinely may well be right. In my mind, I have consigned this investment to a very low likelihood of anything coming to fruition and, if that's the case, it would be pretty scandalous but hardly the first instance on AIM.

What I don't understand is what you're aiming to achieve on this board with constant, repetitious and often insulting posts. Your position on this comes across loud and clear - you believe this is essentially a lifestyle company which will shortly not exist and that Naheed Memon has questions to answer. You couldn't have been clearer on that over the course of many, many posts. So why simply repeat the same thing over and over? - it's beyond boring. And why fling insults at people who choose to take a different view, which is their entitlement?

The way you go about things, even if you are proven to be right, nobody will remember you as the person who should have been listened to.

So I will ask you - as others have without any adequate response - what is it you want and expect from this board?

I think that's the point fevertreeman, somebody in his position arguably does have a number of choices, unlike your average PI. He certainly didn't need to increase his % holding.