Member Info for FED1

There are plenty of shareholders who lurk this board and would like to engage in a fundamental discussion.

However, the loon (note singular) is running the asylum…..and they are apparently short.

Yes you can apparently.

Debenhams needs a heavyweight bricks and mortar retailer behind it. Someone with capacity to raise billions.

Hmmmm? I wonder if there was someone who is eager to work with Boo who would fit that description?

Guess not.

I wonder if I could buy a Sturhling watch on my Prime account?

The Pinterest story on Monday in Retail Gazette was obviously orchestrated by Boo’s comms team.

Good effort. I personally use Pinterest a lot. I like renovating.

Pinterest mgmt oozed about Debs Group approach to digital.

I opened my Pinterest app and made three key word searches:

1) Garden Furniture

2) Men’s Watches

3) men’s shirts

I then scrolled paying attention to the sponsored adds.

In the first category, nothing from Debs. Every other homeware company was on there apart from Debs.

The second category, Debs was first sponsored add. However, you guessed it, for the knock off Sturhling brand. Reduced from £900 to £90! Bargain.

The third category had all the players. I did scroll down and did see a Debs highlighted ad.

Fact is, Debs social media advertising does not set it apart. Not on Pinterest nor any other social platform.

Story was planted.

With the Runner-Up Patsy award going jointly to ISS and Glass.

I do look forward to ISS’s insightful recommendation for the upcoming AGM.

Kamani Clan obviously have their own interests.

The biggest patsies are Schroders and Camelot.

SCB - regarding executive director remuneration, I think we need to go back to basics. The share price. What was it at start: 33.42p

We are in a major bull market! I do not want to performance hurdles based on debt, diversity, or adjusted profit.

Pay a fair six figure basic wage to Dan. Then the rest are options priced at a premium to 33.42p. The higher the share price goes, the more options are given.

It does seem inevitable that a strategic supplier will want an improvement in payment terms, and a trade finance insurer pulls out.

Remember these same suppliers are also dealing with River Island et al.

It makes more business sense for suppliers to fire employees than continue to deliver inventory to Boo.

I’ve always thought that Mike Ashley has connections with The Telegraph.

I sense Dan has huge potential, but he could benefit having Mike Ashley at his side. He is making unforced errors and share price is reflecting it.

Share price is down 46% since Dan’s tenure and we have been told to wait for credible plan. They even fooled ISS who said the BoD should be given a chance to work on its strategy. Frasers was cast as the meddling, self-interested, corporate-raider, who would steal from small shareholders.

And here we are, eight months later.

Let’s discuss watermarks.

In investing, a hedge fund manager is only paid a performance fee when the value of the fund is higher than the previous level. This sets the “watermark”

I would say the watermark was set by the closing price on 31 October 2024. This was 33.42p. The next day Dan was announced CEO and we were all inundated in the proxy value with statements that the BoD had a credible plan to release value.

I will therefore use this watermark post results to determine whether the incumbent team deserve to be reelected.

Which tempered the rallying share price…

Can anyone explain why the Sky News story warranted an RNS, but Drapers does not?

I would note that share price was rallying on the former, not plummeting on the latter.

My threshold for voting for this BoD, including CEO, will be 30p a share post results.

Very concerning the abysmal communication. When a sell side broker releases a note saying market is concerned about no news……you get your …. in gear.

It seems Boo squeezes suppliers every summer?

https://www.theguardian.com/business/2023/jun/05/leicester-garment-makers-manufacturers-fast-fashion-brands

Story from a year ago:

https://www.retailgazette.co.uk/blog/2024/08/boohoo-supplier-payments/

Agree Kach that RNS is needed 7am to clarify issue to market.

If you recall a year ago, Boo targeted a few suppliers which had high return rates from customers for poor quality. I believe Boo increased days payable for these suppliers. It also resulted in Boo’s suppliers losing trade finance insurance which was ultimately reinstated. Boo had to maintain favourable payable terms to strategic suppliers.

I think there is always an element of truth to these stories.

I think it is clear that Boo is being very aggressive in terms of managing its working capital, to the annoyance of customers who want refunds and suppliers who want paying. This is more than moving to marketplace model. Possible lenders are looking at the cash flow to gauge the credit risk. The strategy may backfire.

Bfd,

The full article was posted at 18:13.

Again, poor communication has left it vulnerable. It may be overstated and a disgruntled singular supplier, or boo may indeed have a liquidity issue. We don’t know. Dan is the Head of Comms! Start acting like it.