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1. We make since last quarter profit
2. Todays forecast for H2-23 is 20-60M ebidta
3. CEO confirmed in analyst call that ebidta margin will increase from 9% (good year) to 20-25%
4. Asos will create 150M free cashflow in H2-23
5. Asos NET ASSET is £900M as of today but market cap approx the half of it
We should see min a rerate to the NET ASSET level soon which is £7.5 SP.
Lets enjoy this ride … i am sure we see a profit warning like NEXT did in the coming days too
Https://twitter.com/abc202324/status/1667176965068013581?s=46&t=p-fBnvpF9tMFyB57eUoEZQ
Join our discussion as well in addition on Telegram
Https://www.londonstockexchange.com/news-article/NXT/unscheduled-trading-update/16005142
UNSCHEDULED TRADING UPDATE - 19 JUNE 2023 (NEXT)
HEADLINES
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Trading in the last seven weeks has been materially better than the guidance we issued in May and we are updating the market accordingly.
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Full price sales1 in the first seven weeks of the second quarter were up +9.3% versus last year. This compares to our guidance of -5%. In the period, we have beaten our full price sales estimates by £93m.
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We are upgrading our full price sales guidance for the full year by £137m and our full year profit guidance by £40m to £835m.
Forecast: How the sports and outdoor sector continues to excel
By Beth Bloomfield, Hanna Hua
The Retail Week analyst team forecasts that the UK sports and outdoor market will grow at a compound annual growth rate (CAGR) of 4.6% in the five years to 2026/27 as retailers fight to gain market share in this lucrative category
The Retail Week analyst team forecasts that the UK sports and outdoor market will grow at a compound annual growth rate (CAGR) of 4.6% in the five years to 2026/27 as retailers fight to gain market share in this lucrative category
Https://t.co/soRyWLsUAi
ASOS as top investment to watch
We will see in the coming days a rerate back to NET ASSET Level. £7-8 SP was the same Level before all the bad news came in. With now creating profit the MMs will be fully supportive for such move. Secondly the market is drying slowly out which will support such move too. MA will buy further, shorters will close positions and a lot of longterm holders will just arrive in the coming 2 weeks !!!