Take yourself out the equation T4G and answer me this. Would a long term investor rather put money into a savings account where they are guaranteed to get 6% returns or risk it on a share that has declined 90% in value and has not shown signs of recovery. Boohoo's problem is that new investors don't want to touch, existing investors (me included) don't want to realise losses and shorters will keep pushing doom and gloom as there is no counter argument being presented by the company via regular RNSs or positive updates on performance.
Let's all stop complaining about manipulation.
At the end of the day, Boohoo has to win back investors with positive news and positive regular updates on growth and profitability. They haven't had a positive update in nearly 2 years and keep comparing themselves to customer acquisition and growth to three years ago.
- For a re rate they need to show profitable growth or forward look positive momentum.
- Update on Agenda4change, it seems like this was just a tick box exercise that's now been forgotten about
- Update on green ambition
- Update on US DC
- Update on performance on emerging markets eg Middle East and India and associated tie ups with Myntra and Debenhams in UAE.
- Do a deal with MA to get limited edition lines in Frasers stores - bricks and mortar proposition.
He isn't. This is his last collab. He's stepped down.
I rarely post these days but note a few people getting excited. Patience is key as this share price is a yoyo.
It would make sense for the US DC, starting it's phased launch with PLT, to go live on 5th Sept ie next week.
The reason why I think this will be the case is because Naomi Campbell is launching her line then and it's been heavily promoted. Would make financial sense therefore to kick off the US DC with a big launch.
DHL will be processing any sales through the USDC as they have the contract to run it.
Agree - patience required here. There won't be a re-rate until there is a significant update and BH show that they are moving in the right direction. Umar's acquisition of shares are a positive step but not something that will turbocharge the shares price as suggested here.
I think it will continue to stay around this price until September when they update next and hopefully the update will mention the new US DC opening.
Press release from a local newspaper (you need to access the link via a VPN but contents posted here)
LNP | LancasterOnline
August 2, 2023
DHL hiring 400 workers near Elizabethtown
DHL Supply Chain wants to hire 350 fulfillment specialists and 50 support staff following the mid-June opening of British clothing e-retailer Boohoo Group’s first U.S. distribution center near Elizabethtown.
Those hires will join 200 people already working at the facility as operations are gaining momentum, a spokesperson said. Pay starts at $19/hour.
DHL, a subsidiary of the German Deutsche Post DHL Group, is on a hiring spree after having been contracted in October to run the 1.1 million square foot Boohoo warehouse in First Logistics Center @ 283, an industrial park 2 miles northwest of Elizabethtown at 2771 N. Market St. in Londonderry Township, Dauphin County.
The new warehouse, which is bigger than 17 football fields, is located along Route 230 near Conewago Creek, which forms the boundary in the area between Lancaster and Dauphin counties.
Boohoo signed the lease with industrial park developer First Industrial Realty Trust, a Chicago-based firm, in October.
DHL Supply Chain is holding a “hiring event” Wednesday from 10 a.m. to 4 p.m. at the warehouse. Ahead of the event, candidates need to apply online at careers.dhl.com. Candidates attending Wednesday should come prepared with a valid ID and for an interview and drug test, the company said.
Lancaster County commutes are getting longer and more workers are headed out of the county
Tom Fogerty, president, human resources, DHL Supply Chain, said in a written statement that the company offers associates “competitive pay, a dynamic work environment and a brand-new facility with many benefits.”
The facility allows Boohoo to offer next-day service to the New York City metro region, a key customer area for the fashion brand, DHL said previously. The facility is expected to reduce transportation costs, improve service, and drive greater agility and speed, DHL said.
More hiring events for the Elizabethtown area facility will be announced in the coming months, DHL Supply Chain said.
DHL Supply Chain has said it expects to hire 1,000 associates in its first year at the First Logistics @ 283 warehouse, with nearly 2,500 associates expected over the next three years.
DHL plans to add amenities for employees, including a kitchen/canteen with fresh food prepared daily, and an on-site gym and activity area.
The site includes a recruiting and training center to allow for faster hiring and training of new associates.
First Industrial Realty invested $125.4 million in the building leased to Boohoo Group and is building a second facility at the park that is expected to be completed this summer. First Industrial recently told investors it expects to spend $95.8 million to build the 700,000- square-foot facility, which has yet not been leased.
https://lancasteronline
Partner in Big4, hold various trustee positions and also School Governor.
Next.
Honestly, enough cash in the bank to keep going. It's a timing issue. Costs have come down and revenue will stabilise to it's true (non Covid inflated) amount. The comparables for this year to last year should show a rosier picture.
Share price recovery will only happen once they either show growth in revenue or turnaround in profit.
That will probably take another 6 months/ year.
Repricing happens then.
This has gone from 19p to 25p in 10 months. Same concern here folio. Not the multiples clowns on here were expecting?
They are fully vested. Only terms are a one year lock up.
No incentive to do anything. Merely a reward for chasing up auditors, lying to investors about the completion of the audit and readmission of the shares.
Great payday for not doing very much.
I may apply to be a director! £2m for implementing advice from an Investigation conducted by a third party!
What have the board actually done?
I think you are all forgetting the shoddy updates that never materialised.
All they have done is implement findings from the Macfarlanes investigation which would have cost a fortune as lawyers charge riduculous fees.
Apart from that they've just chased the auditors and released every month RNSs suggesting that the shares would be readmitted and the audit was near completion.
Why are people making out Bob to be a hero?
Oculus
What have the current RevB board done?
Hired Macfarlanes to do an investigation.
Implemented the findings.
Lied about finalisation of the audit months on end as well as readmission.
Got voted off the board to then get themselves voted back so they could share in a payday for not doing very much?
What they're doing makes strategic sense, manage the strategy of a growth company from the inside and line them to take full advantage of their US DC when set up to speed up delivery and supercharge growth. Even if it is self-serving for them, what they are saying about the way Bob and Co have acted is absolutely right.
So it's OK to take on a role. Lie to investors about audit releases and readmission to the Aim for 10 months and then get £2m worth of shares? Where can I sign up to be a RevB director?
No, the Boohoo share awards are aligned to the share price. From recollection, they only pay out once the share price hits 90p. I'd be very happy I'd that ever happened. The RevB shares are fully vested and the only restriction is a one year lock up which is pathetic.
At the same time. Boohoo need to self reflect, stop moaning and figure their own sh*t out.
They paid Macfarlanes to do the investigation. The company was already solid and doing well in existing growth markets - they haven't actually done anything to launch into new markets or streamline operations.
All Bob has done is lie month after month that the accounts would be release and the shares would be relisted but is treated as a hero here and getting paid even though was voted off the board by the majority of shareholders and the resolution to pay them was also rejected.
It's farcical and self-serving!
Pedro you have said the same thing 80 different times. STFU.
I use shortracker but its not updated yet so got it from the source here with today's info:
https://www.fca.org.uk/markets/short-selling/notification-disclosure-net-short-positions
click on 'See the public short positions disclosed to us - daily update (XLSX).'