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A thoroughly miserable set of results.... 13% fall in sales is accelerating from the last time; margin down again and US warehouse automation delayed. Dont be surprised if they pull out of North America.... No grade I would give them.
Terribly bad managed company. Eating through cash at an astonishing rate. The biggest challenge will be when it runs out as I cannot see investors parting with more money. Sadly as the story from Shell has shown hydrogen is not the future - its just too expensive and not commercial. shares here are still overvalued.
Results a real wet lettuce - momentum slowing rapidly across the board. THG ingenuity momentum slowed to a trickle - once touted as the future - now an insigificant part of sales. Poor results. More borrowing.
Write offs of £130 million, excess stock, stagnant sales, falling capex, negative cash flow, ballooning losses and an acknowledgement they are not targeting their advertisment spend correctly - and others interpreted this as positive - the rose tinted glasses of shareholders must have been tinted even more than I thought.
A free cash flow of minus £100 million would be a gift. Forecasts have been out for a lot of these companies. Boohoo not 12 months ago was predicting sales rises of 25% and lots of profit, then nothing but profit warnings.
Yes - I saw the loss... they try to cover that up by using terms like EBITDA abd EBIT but a loss is a loss... is a loss. They are doing all the wrong things - reducing capex is forced upon them and not something a serious company would do. Capital raise and dilution coming!!!
Bumbum you must be reading the toilet rolls.... this is an horrendous result operationally they are all over the place, financially they are in a black hole. Reducing investment in automation suggests they are expecting a big decline in orders - well the reduction in stock levels already says that. They are getting to run out of cash based on this performance.
They are going to run out of cash. To go from +£200 million to -£200 million cash position, that is an enormous shift in fortunes. £400 million downside movement - and we're not at the worst point. These results are horrendous!
Some dumb investors out there. Softbank has sold shares in THG because it was a bad investment. they were sold for 39p and they open at 50p.... dumb dumb people. Softbank are basically acknowleding this was a dud. Which it us.
these are awful results - its making nothing and is paying 30 million for the priviledge to stay open selling loss making pints and meals. I'm astounded its up 0.01% let alone 10%. Investors in this share are particularly thick imo. But thats just my take. There was zero positive in that update.