Member Info for HereKittyKitty

3 reasons why I’m still positive on the Boohoo share price
https://uk.finance.yahoo.com/news/3-reasons-why-m-still-130011458.html

Time for the heat to re focus away from Boohoo directly.

MPs demand update on audit reform progress from business secretary
https://www.cityam.com/mps-demand-update-on-audit-reform-progress-from-business-secretary/

I'll re post my notes from the Interim Results call only 21 days ago:

- Admit issues found in Leicester
- Have ability to drive positive change & stop issues reoccurring
- Ambition to be fashion e-commerce leader
- Big investment in UK textile manufacturing industry
- Not afraid to act quickly
- 70,000 styles of clothing now!
- UK contribution - 1.5B sales, 5,000 direct jobs, saving UK brands, 80m paid Corp Tax
- Soucing more in Asia & Europe
- Directors of Sustainability & Compliance team in place
- Compliance programme for suppliers & manufacturing sub-contractors through accredited 3rd-party
- Group terminated many relationships from audits
- Will publish a list of approved audited suppliers
- Rolling out compliance globally
- Reducing waste improvements going well
- Invested in technology for auditing & compliance
- New supplier portal & app
- State of the Art facility in Leicester for not just Boohoo to help model legal manufacturing & train new people with 250 new jobs. Community access & not for profit - awesome!
- Fewer suppliers but more volume
- Audit everyone in 12 months, publish list in 6 months
- Implementing ALL QC recommendations
- Enhancing BoD compliance oversight with new ESG board member - Awesome!
- Fantastic first Half Year for group with record sales & record profit
- Boohoo & Leicester will flourish together
- Margins wont suffer but preference is to use Leicester
- 4.5m dresses sold but only 0.3% are the £5 dress - most £15-£35 -12% margin on £5 dress as it helps marketing
- Not disposable fashion & ethically sourced
- Sales up 45% - strong demand in all geographies
- Gross Profit up 47%
- Net cash 344.9M
- UK 37% up, US 83% up (HUGE!!), Rest of Europe & RoW all growing
- Cashflow strong +147M
- PLT fully owned
- Oasis & Warehouse fully integrated
- Customer KPIs - more customers +4.4M with 34% increase in orders!
- Increasing Capex Burnley & Sheffield spend to achieve 3.6B sales!!!!! WOW!
- Guidance 28% to 32% growth for FY upgraded - nice!
- VERY COOL video on all their 9 brands!
- 36m followers on social media
- Lots of new celebrity influencers
- Brands cover 13 -45 years of age
- Karen Millen & Coast growing & brands extended
- Launched TV advertising this year
- Oasis & Warehouse targeting every & urban women
- Very strong platform to deliver change close to achieve 1.5B sales through 9 brands
- Strong financial position

Where are all the miserable doom & gloomers today lol

I would say he knows there will soon be ink on a new auditor contract.

Silly sausage indeed

So they are trading 3x owned assets
Thought it was too good to be true
Rarely see a report in thousands vs millions
Apologies again

Ah yes they are £,000 presumes in millions like most reports vs thousands - sorry!

Did I misread the report - link above?

We are sitting on 375X here - madness

If they cashed out all Asset Investments at cost the SP on a 1:1 ration of value would be 33.75p

This will just jump 1000% one day like SYME did

Difference here is VELA HAS £3B assets TODAY

https://www.lse.co.uk/rns/VELA/half-year-report-5pnls7ngtvv14tx.html

Errrrrr this has MASSIVE upside potential - so undervalued its crazy

In their earning call they addressed this using the £5 dress example. They run at a loss but it is a marketing tool & gets more in the basket that is profitable.

My notes on this from earning webcast
"-4.5m dresses sold but only 0.3% are the £5 dress - most £15-£35 -12% margin on £5 dress as it helps marketing"

same for other items

Oh & did YOU check out the manufacturer of your phone, TV, clothes, tea, coffee, sugar, car, gold, cigarettes etc?
Then you KNEW about it like Boohoo but did nothing also & chose to ignore it as not your problem.

Yep we may as well throw everything away if we are being strict on this. Using an iPhone or Samsung to read this - guilty. Watching TV on that panel made in Asia - guilty. Going for a workout in gym gear - guilty! Driving a car made abroad - guilty! Wearing a gold ring - guilt! Smoking a cigarette - gutty! Drinking tea or coffee - guilty! Sugar in that hot drink - guilty!

Before pointing the finger of guilt @ Boohoo we should all look in the mirror.

While it may cost to buy out a US firm with a low £, if they are in trouble (like previous UK firms) then they will be cheap, but most importantly the revenue from US translates well back to GBP 1.31:1. With their US growth it makes sense to expand there next. Also they have $ already from US growth to buy local. They could also use a share swap.

US chain I recon next

Good for Boohoo to - picking up like previous lockdown

ASOS and JD Sports are running low on tracksuits and it's because of coronavirus
https://www.ecotextile.com/2020102026874/fashion-retail-news/asos-signs-anti-slavery-international-charter.html

Boohoo could learn from ASOS

ASOS signs Anti-Slavery International Charter
https://www.ecotextile.com/2020102026874/fashion-retail-news/asos-signs-anti-slavery-international-charter.html