RE: Flash sale nearly over1 Sep 2022 17:57
It is market wide. Zalando on the floor. Asos on the floor. Other retail stocks on the floor. Trading update end of the month - they said they were taking actions in last update, with the prices dropping quick in the other post i just made there maybe nice surprises. I remember seeing GKP at sub 60 when oil was on the floor in the pandemic and similar things said. That price 250 now and paid huge dividends out so in reality a return really of well over 400 for shareholders.
Here is below a summary from last TU
At the full year results in May, the Group outlined a series of actions focussed on optimising its operations and best positioning itself to rebound strongly as pandemic-related headwinds ease, and is pleased with the continued progress made in these areas, as outlined below:
· Sourcing and freight
The Group has continued to increase sourcing from near-shore markets to reduce exposure to elevated inbound freight costs, with a 10 percentage point increase in short-lead time product mix compared to the same period last year
· Stock management and returns
Inventory has been tightly controlled in the quarter, with lower levels of stock compared to year end and improvements in inventory turn and increased supply chain flexibility
· Cost management
Overheads continue to be managed tightly despite the significant inflationary backdrop through scaling of acquisitions and improved marketing efficiencies
· Unlocking strategic enablers
Continued progress has been made on key strategic projects, with the automation project in Sheffield still anticipated to go-live in H2 of this financial year. The Group has signed a lease for a new distribution centre in Elizabethtown, Pennsylvania, to support its international growth ambitions and transform the customer proposition in a key focus market, with go-live still anticipated in mid-2023. Wholesale continues to scale with one UK partnership launched in the quarter.
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