Member Info for danl90

You’re missing off that the first sentence is an “expectation” also

Daft or just a crooked journo?

What’s more interesting is Asos had normal return rates and still sold party wear (U.K. and US)

So why did boohoo get hammered with returns? Perhaps quality is an issue?

Yet you’re too thick to push back or correct. Even Kallu has you looking silly

Doesn’t say that at all

It’s interesting that they didn’t note boohoo us issues ie heavy returns and also heavy returns in U.K.

Would have liked a stronger EU performance but US was pleasing especially as that is where new CEO will aim

Customer growth was poor though so makes you wonder are they picking up younger customers?

@t4g the revenue growth is yoy comparison it’s comparing vs last year so Q4 is always vs Q4

It’s like for like

“Sandbag Q4 and beat it?” Ok but this isn’t marketing it’s a publicly traded business you’re supposed to give accurate, timely and useful forecasts to investors. They aren’t shoppers to entice with cheap gimmicks

JL told us this in the update that December was running off from November and as said November was awful it was the drag on the quarter so if -14% for the quarter how bad was November if Sep was up (on PY as it yoy remember) and October was flat on PY. Well November was a lot worse than -14%

Growth figures are always vs PY yoy period

@SCB can you share the email

Also on current trading you can work this out as full year guidance was lower than growth rate at end of Q3 which means it’s slowing again in Q4

I meant secret in that no one can see in your cupboards (I did explain this and gave an example)

Made it clear

The US business was tiny pre-covid so it’s difficult to say boohoo was working “just fine” the answer is you just don’t really know as some of that growth would have been initial marketing hype and launch

What we know is that November was soooooo bad it whipped out Sep and Oct and current trading is even worse

Re manufacturing in the states this was answered at H1 update as you get tax allowances for manufacturing in Mexico and certain states (what fashion nova does). The issue is how do you get suppliers to work to boohoo test and repeat speed

The bigger issue isn’t just getting a place and kitting it out. It’s stock management. Asos took 2 to 3 year making TGR

PLT can’t just run a standard WMS as that would mean duplicate stock pools

I think the lidl and aldi point is easy to explain

You do your shopping and the food is hidden in cupboard in your house

Clothes you have to wear in public

When you go on a date you wear your nice expensive shirt etc. You don't pull by saying "I have real Kellogg's corn flakes back at the gaff you know!"

Aldi and Lidl were successful as they could allow secret penny pinching. You don't get away with this with clothes

EBITDA and PBT are different things and given for two different purpose

PBT is a profit metric and EBITDA is given for cash generation purposes. PBT would have been used for PLT as that's a required reporting needed for subsidiary accounting

EBITDA is cash generation proxy. This is what I was explaining last week to someone (can't remember who)

Yeah I often Kallu has never been to a primark. The shopper there just aren't boohoo shoppers

He should visit one as part of his "research"

@pokerchips your point was "I suspect it hasnt been a great time for SME´s this past year or two"

So essentially the covid period. What happened on one black friday isn't the point. The point is that shopify has signed up a tonne of sme businesses. Dotable and imagination haven't! And Management won't say why

Also on dotable

You have to compare to Amazon and Shopify which are SME shops and have smashed it so it's just been the case again that THG haven't pushed it (after promising upside here at IPO)

Which you sort of see at the Ingenuity update as John just ignores the question

Exactly that press release proves my point

Apr-20 (IPO was Sep-20) and we don't know
- how many new services they take
- what geographies and have we added more?
- what services per geographies?
- does a newer geography start off with less of the stack and then grow additional services?
- have nestle added more of their brands and products?
- has ingenuity helped push products to new markets via D2C?

None of this is updated and is entirely what "land and expand" is. Yes there is a position (landed) but absolute zero since on how this is expanding except some noise about putting a name on a toblerone (which card factory do)

Thanks for sharing as I was going to dig that artcile myself to evidence the point

"OPTIFAST, Minami, and Klean Athlete" are hardly nestle's biggest brands. The point people wanted to hear was the story we got with Elemis. Elemis used Bentley labs. and this "land" led to them wanting more so they took ingenuity. Now the parent co of elemis is plugging in more and more brands they own (expand)

But an analyst never bought and isn't selling stock

As I said an analyst knows about this as they sit along side the roadshow. The investors are given a 1-2 hour slot with management to hear about the building. It was during that point that nestle was "sold" to investors on the basis that once Ingenuity has a client that isn't it it's a land and expand model ie you'll find more and more to sell to them or they will ask for more and more

The point is investors feel this has never been proven for them so it's one of two reasons
- confidentiality - in which can THG were daft to use as an example
- the promise of land and expand hasn't happened

There wasn't a Nestle question more that she was asking about dotable and imagination (a point I have raised on here as an area they need to talk about) but JG started talking about nestle

Investors fled as they were expecting insight into Nestle as that was the big case study at IPO. Why was it the big sell and now it's not even a top 5 case study

It stinks tbh and if i'd paid up on that basis you'd be fuming particularly as more so then than now Ingenuity was just a promise of potential but all of a sudden you want to be mums the word on the biggest customer? It's very odd

Investors panicked not due to the question but that Nestle wasn't in the deck at all bar a logo and some rubbish about toblerone which tbh Card Factory can do for you (print your name on a toblerone)

You’ve posted that before?

Is relevant - sorry

And this from someone who has advised on IPO roadshows

@poker the nestle point isn’t irrelevant. On the roadshow you’re going to investors/ funds and not analysts

You can’t walk in a room and say give us £xm as look at this fancy platform and as an example here’s what we can do for nestle

And then a week later say “sorry we can’t tell you about nestle”

I’d be fuming if someone led me to sign a cheque and then a week later said “sorry we can’t say”

That’s just obvious really and THG also would have known about a confidentiality clause so look stupid for using it as a carrot

It’s a red flag tbh and an obvious one