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I would be happy to receive Frasers shares. We would still retain immense upside without any of the risk. I would take 55p per share.
All IMHO DYOR
Happy
I think he will bid for this.
Great opportunity for him to integrate it with Frasers and realise the synergies.
All IMHO DYOR
Happy
Https://www.bbc.co.uk/news/live/business-68986351
https://www.theguardian.com/business/article/2024/may/09/bank-of-england-keeps-interest-rates-on-hold-uk-economy-inflation
UK now officially growing and a good chance that a June rate cut starts a long cutting cycle.
All IMHO DYOR
Happy
No one is smarter in the retail business than MA. Certainly, no one on this BB.
His buying is a huge vote of confidence in our medium term recovery.
All IMHO DYOR
Happy
Lydia Rainforth (Barclays) never gives up lol and nor will I.
I am not enamoured with the transition / IEC bulcaca but the underlying oil and gas franchise is tantalisingly cheap and eventually there will be a big rerating at some point.
Until then I'm happy to keep picking up one of the best covered and safest dividends in the FTSE. It will increase by at least 10% next quarter so highly attractive.
Buybacks of at least $14m over next few years will rapidly reduce share count and allow further increases in divi.
Very be attractive ISA share for long term.
All IMHO DYOR
Happy
Good takeover target, too.
How much time, effort and cost to build a business of Boohoo'a capacity, scale, customer base and brand recognition?
A lot more than £500m.
All IMHO DYOR
Happy
Well done you! Good job.
I took the advice of many here and sold out last time before bid collapsed then bought back a chunk cheaply.
This time I'm gonna hold for financial results. I think we should be over 200 without a bid. Comfortable waiting for full recovery and realisation of value.
All IMHO DYOR
Happy
I topped up this morning but only a small top-up. The results were obviously mixed but it's wrong to focus on the historical results rather than looking ahead. The market price doesn't discount past cashflows but future ones.
And based on this morning's update and the webcast, the "green shoots" are clearly visible. Core brand sales are strengthening and Debs is doing great.
FY2025 will be much better. Touch wood.
Best of luck all
All IMHO DYOR
Happy
Sorry meant Worley*
I think it'll go for 250 upwards.
This time it'll be a recommended share offer probably by Worsley or another peer avoiding the shenanigans of last time.
They are obliged to issue an RNS if this is a leak, which looks the case
All IMHO DYOR
Happy
Should have bought more yesterday. Shame...
GL all
All IMHO DYOR
Happy
He should bid for it now.
He can bring Debenhams back to the high street always a dream of his. He can use Boohoo infrastructure to improve Frasers online.
All IMHO DYOR
Happy
All IMHO DYOR
Happy
SCB
I don't think many of these posters really hold any shares or they wouldn't be blatantly misleading people.
Free Cash Flow is expected to be positive i.e. cash flow AFTER capex - clue being in the word "free". So anyone telling you "overall cash flow" is negative is doesn't know what they are talking about.
"Liquidity appears to be an issue" - erm no, it is not. They have over £200m cash on the balance sheet and while net debt is £100m, this should come down in FY2025 as FCF turns positive.
Sales performance in core 5 brands is improving rapidly. If this deteriorates again, they would have problems but the trend is positive. YOY core 5 brands in UK were flat.
All IMHO DYOR
Happy
"Quietly confident. Our strategy is starting to show green shoots. Consumer confidence coming back."
All in all very positive webcast. I'm gonna hold for 12 months and then reassess.
Good luck everyone whatever you decide to do :-)
Core 5 brands are flat in UK YOY and down just 4% over H2 worldwide. I would say core brands are resilient and performing quite well.
Question: (paraphrased) how will you compete with Shein?
Answer: Brands very different to Shein. We stand around fashion. Right product, right time. Our delivery proposition also ahead of Shein. 70% in UK next day, Shein can't do that for example.
Question: Please give some flavour on performance of core brands over H2?
Answer:
We don't break out UK by core and non-core. But UK was better performance overall. UK core brands flat yoy.
If you are a qualified accountant, explain to me how "overall cash flow" can be negative as Hexam said, if FCF is positive? I agree it is investing101 so this should be really easy for you to explain given your amazing credentials.
Q&As (not comprehensive, they should issue a transcript later)
Debs: beauty is developing really well. Beauty should be back to Debs pre-acquisition levels in FY2025. Comparing it to Amazon.
US warehouse "a little slower than what we hoped for" in terms of implementation. Learnt from our suppliers, they've found it a little more complex shipping into US. Didn't get our marketing campaign quite rights. Paused brands while we fine tune but remain very confident.
Debenhams marketplace model seeing "rapid growth".
Significant commercial advantages. Capital light. 100% margin. Stockless model.