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Excellent!
ROW won’t recover until air travel (and therefore freight) gets back to normal which could be some time.
Rest of European is a worry and maybe can’t be resolved without opening / sharing a distribution centre on mainland.
UK results are stellar especially as, according to some on here, have been losing market share to the high street !
Against a really strong last year Q1 and shops being open for 7 weeks, the Uk results are fantastic.
Full year forecasts bound to be upgraded in September.
Share price ? Who knows. I’d expect a decent rise but we seem marooned in the 320’s at the moment
Decent, better than expected but......
Growth in new FY so far only 2% above 2019 - hardly exciting (inflation alone may be most of that).
Balance sheet is hopelessly inefficient (and has been for years). Share buy back ? More aggressive dividends ?
Surely can’t just pay down what is a very low debt level.
Company has proved time and time again that takeovers have destroyed shareholder value, and organic growth not good enough
How are they going to ever grow at an acceptable rate (5%+ in my book) ?
Some of the bought brands are weak, but I doubt many middle aged women are lashing out £600 on a Karen Millen leather trench coat.
Next (est 1982) seems to manage monster online sales & people used to say the same about buying everything from TV’s to shoes. If the process is seamless & returns easy then not much you can’t buy at home.
In many places outside the premium retail areas, the high street shopping experience is grim. Trudging past empty stores and finding you have to queue in the ones that are still open. All this in the pouring rain of May. Marvellous.
I’m hoping that Boo will surprise us with the first trading update next month. Carried great momentum (40%) in Jan & Feb, and shops not even open for first 6 weeks of Boohoo financial year. I think we might see close to 35% sales increase and a slight upgrade to full year forecast.
If Boohoo hit 375 I doubt if they will stop there and fall back. Seems like got a bit of solid momentum in the last fortnight
Not sure what some are smoking but the results are in the bag. Diluted earnings will be around 9.5p. Nothing to see here.
What will move the share price is;
1) Trading volumes first 8 weeks of the FY. Less than 30% growth will be disappointing . Close to 40% would be stellar.
2) forecast annual growth. Anything less than 25% is disappointing. It won’t be more though.
3) what the Debenhams / new brands story is. No point having ‘Beauty’ if you haven’t got the range of brands. Just having Elizabeth Arden won’t cut it. Early days though.
4) how far they can persuade people that they are down the ethical trail & no further skeletons. As it happens, I don’t think boohoo consumers give a toss. But they’re not the market for the shares.
Hardly bodes well for M & S that they are behind Debehnhams which I am not sure was functional in February.
I was a pretty dubious about the Debs acquisition, but the website looks better than it did even 10 days ago.
I'd say the Next website still has a better look & navigability to it, but thats been going a long time.
Planning to launch beauty which is a big plus with its chunky margins. Will they get the brands that Debenhams used to sell ? Lets hope so
A pretty good start to Debs - I may be proved wrong.
For what its worth (and leaving all the 10 bagger nonsense aside), I think the price will hit 420p round results release.
I'd be pretty confident annual growth will shade 38%
Operating margins will remain 0.5% either side of historic ones
Trading at start of 2021-22 will be strong (>32%) , and forecast growth will be once again 25% (with it to be updated upwards in subsequent trading updates).
There is always a doubt at this time of year if Boohoo can maintain growth rate. Every year they prove they can.
I think some of the ethical issues are still priced in and will decline over time supporting the share price.
Management team is miles stronger than before John Lyttle joined.
Can't say I like the massive bonus structure that pays upto £150m, but it heavily hints that the share price will hit £6 before 2023.
If they needed a boost to tip the share price up at the stage, doubtless they will apply for a full listing & force index trackers to hold shares.
Risks as ever are;
Supply chain 'slavery' issues better known as minimum wage / employment / illegal working issues.
Integration of brand acquisitions
Design copyright issues, limited to USA really and minimal impact.
Lets see how this prediction does in 3 weeks time.
any company will publish is financial calendar
https://www.boohooplc.com/investors/financial-calendar
Boohoo preliminary results out on 5th May.
Past years were about 12 days earlier.
Main reason is that auditor has changed, alongside acquisition of remaining bit PLT.
https://www.shadowfall.com/wp-content/uploads/2019/01/BOOHOO_ShadowFall_Research.pdf
As they say themselves, "this is non-independent research"
I doubt if you expect me to teach how to consolidate group accounts and what the treatment of minority interests is. Particulalrly when you are starting from a low base.
PLT accounts to 29/02/2020 are in public domain, profit before tax was £45m
It was Shadowfall who claimed that net cash cost for Boohoo to buy out PLT minority interest was £1bn by 2022.
As I say , utter humiliation.
Oh dear...
"The initial consideration is to be settled through a combination of shares in the Group totalling £107.9 million and an up-front cash payment of £161.9 million, funded from the £240.7 million of net cash that the Group had on its balance sheet at 29 February 2020"
But (and its a big but), PLT had £161m of current assets at Feb 2020 (2/3 of which Boohoo entitled to), £100m of which was cash.
Even Shadowfall humiliated by this acquisition of remaining interest.
The current death rate isn’t even a positive for Dignity as practically all will be the cheapest plan with no opportunity for up selling.
At some point the shares may be worth buying , after all if it wasn’t for the excess debt they are the epitome of a defensive stick, but people have said that for the last 18 months and are fixated on past share price highs.
They will never see £20 again.
Ever
People saying the same thing when Phoenix where buying at £10.
In fact they were practically boasting about it.
Phoenix aren’t a hedge fund anyway.
They are playing with other peoples money and while they have a decent long term record, charge highly for it. They have hits and misses. So far with a 27% stake , this is a massive miss,