Member Info for FED1

Https://www.asosplc.com/investor-relations/results-centre/

Yes that’s correct. I mistakenly thought fiscal year started 1 October. It actually starts 1 Sept so we are due update in third week March if last year is repeated.

Whoami,

We effectively had a trading update on 15 January. Management confirmed FY25 guidance. This is as much as we can expect now for 1Q and 3Q. We have to wait until interims for a more substantial update. This will be May.

However, given the continued daily slide in share price (off 20% in a month), you would think the BoD would be more proactive in underpinning share price.

Agreed. Where do we go from here is it announced disappointing results!

I just looked at the 1month price chart on Google. It is an unusual share chart. A steady slide downwards.

I reckon the Asos mgmt restructuring announcement was an attempt to stem the decline. The market needs substance, not fluff.

I do like Calamonte and the effort he puts into his earnings announcement. You can see he is trying to communicate to investors. However, the market will look at the hard facts. You cannot spin the share price anymore.

Yes. They should have had a big bath at the end of FY24 and gone into FY25 with everything already written down (inventory, distribution centres, restructuring and redundancy charges).

Thanks Samb69.

With the non-cash write down, then yes it will be a reported loss. Provided there is no cash burn then markets will look through this at the adjusted net profit/loss line.

Regarding the £200m write off. Was this a cash item?

We are guided FCF neutral this year. Is this excluding the cash inflow from the TopMan disposal?

Did anyone notice that Dan never mentioned PLT in the marketplace strategy. I wonder if this is where they are going to release value. Looks like we have an announcement on 3 March. I was beginning to think we wouldn’t get 1Q capital markets day.

This prolonged downtrend is not unique to Boo.

I was looking at a client's AIM portfolio. Diversified and focused on quality AIM. The performance is still a shocker.

UK smaller cap companies are fundamentally undervalued versus US peers.

I feel they will lead the next part of the rally. If interest rates falls and consumer confidence returns, then empirical evidence suggests that there is still further to go in the stock market. I think US tech will underperform.

I think we need to be realistic. The credible plan or business review will not be a silver bullet. Hence why mgmt has toned down the rhetoric in its latest statements.

They mention Karen Millen and Boohoo in the marketplace strategy. Disposing of Arcadia brands will not move the needle. Would they sell PLT?

At the moment, the next budget is scheduled for October. We have the OBR in March and then the Spending Review.

However, with talk of a rise in defence spending, I think an emergency budget is more likely. Reeves has no political capital to do anything now apart from tinker.

Whilst I do feel the UK stock market does have a demand problem, which results in its cheaper valuation vs US, the Boo share price is company specific. It needs revenues to stop falling 15% at every half yearly interims.

This has been an odd rally. The markets took off in October 2023 when inflation started coming down.

US tech single handedly led the market. We had a bit off a broader base rally with blue chip value, and now even EM. The text book says that the unloved crap should now fly. However, the stock market is already at highs and looking expensive in US. I hope the market doesn’t turn before small caps rally.

It seems a lot or organisations are laying off staff under the guise of Employer National Insurance. I suspect further redundancies at Boo.

Agree OceanPassage, if revenues are falling 15%, then it equates that costs have to fall 15% just to maintain operating margins. It is not an efficiency drive so let's not be fooled that mgmt has found cost savings. It is right-sizing the cost base to reflect lower market share.

carol’s 30 day insider buy time limit will be up this week. potentially allowing for a trading update as soon as monday.

if we assume we are getting a capital markets day in march, then they would probably give sp**** trading update in announcement.

Can you imagine if the IPO went ahead a year ago. They were going to target UK retail investors as there was a lack of appetite among institutional investors.

The much hyped IPO which would have been considered a boon for the London Stock Exchange would now be a disaster for those retail investors.

Just like it has been for us BOO shareholders!

If it is false, then this would be disinformation and a form of market abuse.

https://www.handbook.fca.org.uk/handbook/MAR/1/8.html

If Burnley is going to be shut down, then this is interesting. I am cautious of the source although not saying it is not true.

I suppose the issue is that a poster has gone to great effort to make it look like a genuine article.

I reckon credit will also feature as a slide in capital markets day.

https://www.retailgazette.co.uk/blog/2025/02/frasers-currys-credit/