George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
As I said I didn’t pick the 4.1% stat. Clearly the bit you quoted in the text is correct for only ten people as you can’t have 9.6 people! 4.1% you need a greater quantum of people. Make sense?
Shein sell junk but convert higher is bad? Surely if boohoo are selling quality that would drive higher conversion. Your conclusion seems the wrong way round
I just flipped this around “ Nine out of 10 visitors to Temu’s and Shein’s websites were window shoppers rather than buyers”
I didn’t actually read the article but 4.1% still has boohoo beat so weird you’d share a stat that 1) isn’t the full picture (by your own admission) and 2) better than boo! So things must be really bad at boohoo?
Also nice swerve on the visits point. Again cherry picking data that fits your narrative isn’t investing it’s bury your head in the sand
Shein last year, cider coming through, zaful had a flourish and now temu. The worrying thing is there are more to come! Aliexpress how could I forget
Ha. You randomly gave conversion stats (not relevant to the conversation anyway). Then I showed you boos were worse so now you claim you need basket size. So why didn’t you provide that to start with when you gave Sheins conversion? By your own point it’s not the whole picture and why share a stat that shows “Shein are not as amazing” but is still ahead of boo? Weird
I corrected myself on the number which was before you posted
But I like the new goalpost move which is now website visits dropping. But this data is irrelevant anyway as app visits don’t go through do they? By asos on stats app is the vast vast majority
Where are we putting the goalposts next?
So you’ve provided a KPI which made Shein look bad and then learnt that boohoo was worse so now you want to move the goalpost to average basket size?
Not that conversion was even relevant to the original discussion. So that two goal post moves in the space of a few responses
Sorry I meant 1 out of 10
There are plenty that exist but the point is is as the article says temu started very recently! It shows how there’s no barrier to entry
On conversion the rate for boohoo is 3.7% so if Shein is 9 out of 10 that’s better!
On the contrary this highlights how much worse it willl get for boohoo. You can have a new Shein once a year at the rate Temu launched!
Shein failing just means 3 or 4 more direct from China competitors can come through! Shein winning and stopping them scaling and then getting banned was a better route for boohoo. Now you’ll have many others to compete against
I’d venture brooks macdonald and pebble group
As always there’s a lot of focus on just the revenue number as though the rest of the P&L doesn’t matter! The days of revenue multiples are gone for now
I get the point about FY23 but wasn’t Nutrition turning loss making in FY22 as that’s when whey was spiking?
Celsius is profitable and Nutrition it seems is a business at the wim of commodity prices. It’s hard to pay forward for a business with little control. Glambia owns a lot of its own milk production so has an ability
I assume I’m wrong in the above but thought it worth mentioning
30% of revenue is US and another big chunk overseas
I know it seems to be the song on every forum but maybe JD belongs on a US exchange?
Will increase by 10% later this year. This poor Christmas reflects a timing difference between shoe prices which have increased and low wages which haven’t had the boost
When the 10% increase comes, it’s unlikely shoes will see an increase again this year, the shoes fall back to affordable and JD goes back to normal
Kelso won’t want Iain Mc gone. Iain Mc is one of Richard Hughes lieutenants so they are all extremely aligned
Business should split into two
Facilisgroup would be valued at a much higher multiple if owned by a US PE firm. Now the majority of software build is complete that business should be increasingly cash generative. Now is the time to spin that arm off
Leave behind Brand Addition with a war chest to consolidate what is a highly fragmented market and enter new verticals
This would create significant shareholder value very quickly
Https://www.shponline.co.uk/news/investment-needed-to-prevent-future-economically-inactive-workers-iosh-warns/amp/
Hopefully this will FINALLLY come in the next budget
Not saying this is a massive sample but it’s just my own experience. Take it or leave it, I’m just sharing as that’s the point of the board
Ordered gifts from LF the last few years (all part of being a shareholder). Every year there’s been a delay in getting the item. The delay was usually a mix of dispatch (volumes too high at THG) and delivery (volumes too high - or more likely issue with Evri!)
This year my orders in late December arrived within two days and my Christmas Eve order arrived today
Similar story with Asos (for underpants)
In terms of Manchester City centre…tumbleweed
I think the BoE have strangled the economy and will need to unwind next year. This will be a boost for THG and other growth shares
Further good news on inflation. 50% chance of a BoE cut in March! The benefit for Marlowe is a double boost as as SONIA falls the interest payment falls so more debt can be paid off but also as more debt is paid off the gearing premium falls which drives the same benefit!
Marlowe just needs to stick to the knitting now and focus on FCF
Did you dip your toe?
Hopefully as the markets start to price cheaper debt we can move to a lower deal in the coming months rather than having to wait for the BoE cuts
The only other point for Marlowe is how are SMEs being squeezed atm? That’s why I’m holding my forecasts at £90m for this year and next. Meaning as you point out this is a value gain based on interest rates falling and debt being paid down quicker
Sale of TICC is the wild card
Huge volume yesterday and although the price did get hammered it hopefully shows there’s so buyers at this price
Debt markets easing so hopefully the TICC deal can come back to life. A sale of that even at 12x would be amazing
Leaving a pure software business which should have a very nice multiple
No more M&A. Let’s extract synergies and focus on organic growth and deleveraging
Agree. Working on a flat £90m of EBITDA for this year and next we hit the £10m - £12m deleverage that the board state at the end of this year and then we chop another £8m off the year after
That £8m includes £20m of interest payments (should be lower), £5m restructuring, all the deferred consideration cleared and higher tax rate
The following year the FCF accelerates massively
Will we breach it?