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Same here

Surely the back catalogue is worth more than the current Mcap now? Wouldn't surprise me to see another big studio mop up a load and then try to force taking it private.

Now I'm feeling sorry for myself too.

Have they actually released numbers though? Can't see anything in the RNS on here.

Sorry to see where this is at. I was in here last year and lost out with a drop from circa 120 to 112. Regretted selling at the time as it went back up after results. The target price for the stock at the time was 200 and it was being ramped in national press.

I've just bought back in at nearly 3 times the holding I had previously. This stock is incredibly undervalued now and the fundamentals appear even better than they were last year.

Again, I'm really sorry for those who've been here a while, I know what you're going through having experienced it on far to many occasions.

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saturday june 17 2023

Frasers Group increases stake in resurgent Asos

Asos was regarded as a trailblazer for fast-fashion thanks to its focus on twentysomethings

Asos was regarded as a trailblazer for fast-fashion thanks to its focus on twentysomethings

ASOS

Isabella Fish, Retail Editor

Friday June 16 2023, 12.01am, The Times

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Asos’s cost-cutting efforts have pushed the online fashion retailer back into the black, prompting a share price rally and speculation of a takeover by Mike Ashley as his Frasers Group lifted its stake for the fourth time in a month.

Total revenue at the retailer slipped by 11 per cent to £858.9 million in the three months to the end of May amid a 14 per cent decline in sales in Britain, its biggest market. The group said that the drop was expected and reflected “deliberate actions on capital allocation to improve profitability”.

Asos saw active customer numbers fall by 800,000 over the period, with the group claiming this reflected a “continued focus on improving the profitability of sales over the pursuit of growth at any cost”.

However, in an early sign that its turnaround plan is beginning to bear fruit, bosses said adjusted pre-tax earnings were up £20 million year-on-year, with the group set to meet its earnings guidance of between £40 million and £60 million in the second half.

Profit per order was up 30 per cent, inventory levels shrank by 15 per cent and adjusted gross margins increased slightly, by 0.035 per cent, as José Antonio Ramos Calamonte, chief executive, prioritises profit over top-line growth. He announced an overhaul of the business model last October. The shares, which have lost 71 per cent of their value in a year, closed up 48½p, or 14.7 per cent, at 376½p on the return to profit.

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Asos was regarded as a trailblazer for fast fashion thanks to its focus on twentysomethings and its swift service, which helped it beat bricks-and-mortar rivals. However, valued at more than £7 billion two years ago, the company was ejected from the FTSE 250 this month, hit by supply chain issues and the rising cost of living.

Last month it announced a first-half loss of £290.9 million on revenues of £1.8 billion. Its net debt grew to £153 million by the end of last year after it purchased too much stock; it has since cut inventory by 15 per cent.

Yesterday Asos said it had secured £200 million of cost savings and profit efficiencies so far this financial year.

Frasers Group lifted its stake in Asos to 10.6 per cent, which would allow it to block a potential takeover bid. The group started building its stake after it was revealed by The Sunday Times that Asos had been approached in December by Trendyol, a Turkish online retailer

I'm actually not sure yo be honest

FCA haven't released their daily update yet

Agreed Teddy. I'm not in a rush, but would prefer to see gradual gains for a change rather than the gradual loses like I experienced at NEX and others.

Then again, we all might not be here in 6 months if the T/O goes becomes a reality

Thanks Teddy. I lost my nerve there, but regret it now as it's recovered.

I'm hoping this will be more successful for me. Seems incredible how much it's fallen back and now the turnaround story is on and the rumours of a takeover make me feel it could be a good way to recover from some of my other failures .

Teddy have you dropped out of NEX then?

What happened after the last big volume day GGG?

It's an auction at the end isn't it? So still technically additional trades I thought.

Lloydyboy, you need to update your stats after that UT don't you or were those inclusive of that?

Sadly could also be shorts using numbers that aren't in the "free float". We'll see soon enough.

I had a feeling this would slip back today with the battle against index funds being forced to sell, but didn't expect a red day. Will be interesting to see if the small cap index funds push this up on Monday in the same way those in the 250 trackers pushed it down.

I averaged up here earlier and jinxed this I'm sorry.

A reiteration, but still a nice rise from here

Only a minor one, but RBC have increased target price from 590 to 610

Thanks all.

Thank you, I've not seen that before. Does that often indicate the open price or does it largely not track accurately?

What do you mean Evraz? This isn't dual listed so I'm not sure how US can move it up.

I'm long here, but confused by your comment