Member Info for hey_arnold

I also wonder whether the Telegraph story on ASOS dumping suppliers is also having an impact. (Like boohoo)

Asos’s sales growth for the 4-month period to June 30 is “poor” and “unexciting,” particularly when compared against fashion retail rivals, according to analysts at Liberum and Morgan Stanley.
The underperformance compared to peers highlights the challenges facing the online retailer’s wholesale model, “where lead times are long and capital is tied up in inventory makes it difficult to quickly change the product mix,” Liberum analyst Wayne Brown (sell) writes in a note
Liberum is concerned about heightened promotions heading into 4Q and sees Asos shares giving up recent gains
While it’s impressive that Asos has been growing sales during the pandemic, it doesn’t look particularly impressive relative to Boohoo’s recent update and Zalando’s likely growth when it reports tomorrow, analyst Geoff Ruddell (equal-weight) writes in a note

Hopefully all the ESG funds have got out of their positions now so this can start to recover

https://www.asosplc.com/investors/reports-and-presentations/2020

because you tell me to with no evidence to support your claim?

I guess some ESG funds have to sell out.

There are some large pension funds which are re-allocating capital towards firms best positioned to capitalise from the changes that COVID-19 has caused. The move away from the high street to online is one such example in my opinion.

here not hear*

There is a structural shift towards online shopping which has been sped up by Coronavirus. Once the findings are published by the QC the company will make the appropriate changes (if necessary) and rebuild the brand. Yes this might go down today, but do I think I will double my money from hear over 24months, yes. How many other investments will give you those sorts of returns. For those that want to talk this company down, go for it, because this will over the medium term outperform every other retail play in the FTSE or AIM including ASOS (which I also like).

That was quite the tree shake. The one nice thing about getting in at these levels is that you know the earnings will be supportive of an upwards re-rate in the share price.

Have a good weekend all. Don't waste too much time on here trying to convince the bulls/bears they are wrong.

It will have been when it reached 200p in my opinion, although this is really guessing and I tend not to encourage conjecture.

To be honest, if someone is stupid enough to sell after reading a backward looking article, that's their own fault and they shouldn't be investing. I posted the article as I thought some might be interested to read it.

It helps to explain why Boohoo was so oversold.

One of Boohoo’s biggest shareholders has dumped almost all of its stock in the fashion company and criticised its response to allegations of poor working conditions in its supply chain.

Standard Life Aberdeen, the UK’s largest listed asset manager, said action taken by Boohoo after a Sunday Times investigation claimed workers at a factory making its clothes were paid below minimum wage and suffered poor working conditions was “inadequate”.

Boohoo has announced an independent review of its UK supply chain but SLA said it had sold all of its holdings in Boohoo across three funds that aim to invest responsibly and that these accounted for the vast majority of its investment in the retailer.

“Having spoken to Boohoo’s management team a number of times this week in light of recent concerning allegations, we view their response as inadequate in scope, timeliness and gravity,” said Lesley Duncan, deputy head of UK equities at Aberdeen Standard Investments, SLA’s fund management business.

SLA was Boohoo’s third-largest independent shareholder, according to data provider CapitalIQ. Its investment in Boohoo has been criticised this week, with questions being asked about why funds branded as responsible owned shares in a fast-fashion brand.

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Attracta Mooney 53 MINUTES AGO
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One of Boohoo’s biggest shareholders has dumped almost all of its stock in the fashion company and criticised its response to allegations of poor working conditions in its supply chain.

Standard Life Aberdeen, the UK’s largest listed asset manager, said action taken by Boohoo after a Sunday Times investigation claimed workers at a factory making its clothes were paid below minimum wage and suffered poor working conditions was “inadequate”.

Boohoo has announced an independent review of its UK supply chain but SLA said it had sold all of its holdings in Boohoo across three funds that aim to invest responsibly and that these accounted for the vast majority of its investment in the retailer.

“Having spoken to Boohoo’s management team a number of times this week in light of recent concerning allegations, we view their response as inadequate in scope, timeliness and gravity,” said Lesley Duncan, deputy head of UK equities at Aberdeen Standard Investments, SLA’s fund management business.

SLA was Boohoo’s third-largest independent shareholder, according to data provider CapitalIQ. Its investment in Boohoo has been criticised this week, with questions being asked about why funds branded as responsible owned shares in

I think whoever mentioned the sunday news papers has a fair point.

Personally I think someone had a large trading position which they are trying to get out of without completely tanking the price. That why they let it recover a bit then sell again. Profit taking.

Its people on here panicking and hitting sell at any price. *sighs*

The easy money was yesterday. Today the day traders will be profit taking. We will just have to wait a while longer to make the next gain, once everyone has taken profit and it can move up further.

Hopefully it bounces off 300 a couple of times and becomes a support level.

Be interesting to see how the last five minutes plays out. Imagine people wont want to miss being long into tomorrow, just incase.