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Rachel Reeves should tell the 1200 warehouse staff in Burnley how eradicating de-minimus in 2029 will help safeguard UK jobs. Im sure their children are going to have a great Christmas.

The chairman and board should simply say to the management team:

“No more of this nonsense. You report financial results to market six weeks after period end.”

I had previously thought the tardiness was due to the fact they had some material to say at results. There is a sliver of hope that the tardy results are due to a PLT deal, but deep down I know that is fool-hardy.

ASOS reports tomorrow so it can’t really release then. Budget next Wednesday so that’s ruled out. Maybe Reeves will target Deminimus.

I do think it undermines investor confidence in new mgmt team to announce results in final week before deadline (again).

Thanks Razor.

Ultimately the numbers are important and no one is expecting interims to beat expectations.

However, what is also important is perception. Communicating in a proper fashion to market. Dan and Co is not yet convincing. We need a CEO who can deliver poor group results yet convince market.

I would obviously prefer a bad communicator who delivers good results. But the latter doesn’t seem realistic.

Note to CFO: speak to analysts in a frank call. You embarrassed yourself with that nonsense last time.

Giving they are removing so much distribution capacity, I wonder if there will be delivery/return issues next year. I hope the Sheffield automation is up to the task!

Does anyone have a view on the annualised savings on Burnley?

If there were 1200 people working there, on £20k per year, then that is a wage bill of £24m. Then the cost of running that site.

Also what is Burnley worth?

I don't think we get an update in interims as it would be crazy to close a facility before Christmas. February sounds about right to deal with returns. It would also be in poor taste to discuss the cost savings of pending mass redundancies before Christmas.

Hexam,

My relative optimism on Boo's balance sheet versus Asos is down to the potential to dispose of PLT and make a big dent in the expensive debt. Then with a lower interest burden, and annualised savings from Burnley closure, it may have a chance of stemming the cash burn.

I understand market scepticism on credible plan but the scenario I outlined above is within the realms of probability. Okay, maybe not the base case scenario for the next 12 months but certainly not blue-sky thinking either.

There is one simple litmus test to the perceived retail quality of Youth Brands vs Asos:

Asos sells Nike trainers. Boohoo sells Quiz Clothing.

Asos apparently rejected idea of a merger with Boo as it didn't like its disparate brand portfolio. I agree. Dan seems to be pivoting away from Youth to try and grow Debs into a Very Group.

I was taking a mental health break from this board until something tangible came out.

However, the Asos vs Boo debate is interesting.

Asos does give the impression of a better run retailer. It has always come across as more professional and disciplined and focused on retailing best practise. The RNS this morning announcing when it will provide results is an example. I was hoping Dan would professionalise the business more but alas we are not even given a date for the interims. I can understand the sparse guidance given closure of Burnley and potential disposal of PLT, but no earnings date?

Yes Boo has a patchy record in terms of acquisition, but let's face it, Debs may be the saving grace of legacy Boo. Debs does have excellent long-term potential as a brand and this could be a multi-bagger.

Likewise, despite the perception that Asos is better run, the fact is Boo has a much stronger balance sheet and operationally, the reported numbers are comparable in terms of revenues or GMV. Boo also has significant optionality in terms of a disposal whereas Asos has essentially played this card with the TopShop spin-off.

I own both Boo and Asos so no one should be taking investment advice from me. However, if I was a foreign bidder, and this was on a like-for-like basis, I would choose Asos all day over Youth Brands. However, Asos has a balance sheet issue and Boo has: 1) Optionality; and 2) Debenhams.

Https://www.retailgazette.co.uk/blog/2025/11/the-very-group-announces-takeover-by-us-investment-firm-carlyle/

Zalando has 7.5% revenue growth during quarter. Doing Continental European fulfilment for M&S and Next. Expanding sports and strong growth in beauty.

Incidentally Shein is also big on continent.

Https://mt.fashionnetwork.com/news/Zalando-happy-as-q3-s-key-numbers-rise-m-s-and-dfb-link-ups-key-for-b2b-and-b2c,1780384.html

Https://mt.fashionnetwork.com/news/Zalando-happy-as-q3-s-key-numbers-rise-m-s-and-dfb-link-ups-key-for-b2b-and-b2c,1780384.html

Even the corporate website is more polished.

For an e-commerce business, the sloppiness of the old corporate website should have been a red flag. Let’s hope this renewal reflects itself in the culture of Boohoo and the financial numbers.

This pop up will be rammed with Gen Z

https://metro.co.uk/2025/10/27/asos-coming-uk-high-street-just-time-party-season-24536234/amp/

I haven’t read, but usually issuing shares above 10% without shareholder approval (I.e., without preemptive rights) is not under BoD unless explicitly granted at AGM.

Exactly SCB.

Anyone believing 1 is tin foil hat brigade

You can’t argue both cases simultaneously:

1) a solvent company is about to be stolen by controlling shareholders through an orchestrated rights issue;

2) the company is burning cash and will go bankrupt.

These are mutually exclusive.

I think this company is cheap. I tend to be early and yes my cost average is 52p so I’m very early. Not going bust. When fundamentals finally turn, which they will, then with hindsight this will be buying opportunity.

Everyone hated bricks and mortar a couple years ago: M&S is up 300% in 3yrs. Next has doubled over same time period.

Maybe investor sentiment is cyclical, not structural?