RE: Anyone feeling a bit Bill Withers?20 Oct 2020 09:20
maybe already shared (not that I take analyst prices overly serious as they change them with the wind but going pretty high on this one);
Jefferies backs Boohoo after PwC resignation Jefferies remains positive on Boohoo (BOO) as auditor PwC prepares to step down.
Analyst Andrew Wade retained his ‘buy’ recommendation and target price of 500p on the shares, which fell 19.5% to 254p yesterday.
The Financial Times reported at the weekend that PwC was planning to resign over concerns about continuing to work for Boohoo, hit this year by a Sunday Times investigation which found workers at a factory making clothes destined for the online fashion business were paid below the minimum wage.
Boohoo said in a statement to the stock market yesterday that it had launched a tender process for the group’s audit and PwC, ‘having served as the group’s auditor since 2014, is not participating in this process’.
Wade said it seemed ‘unclear to us which came first, the launch of a competitive tender process by Boohoo or the indication by PwC of its intention to resign’.
‘Regardless, we see no suggestion of any financial impropriety and would be inclined to view this as short-term noise in the context of the investment case. We retain our positive stance,’ he said.
RE: Four out of five top auditors snub Boohoo after fast fashion scandal19 Oct 2020 23:45
This is obviously being posted as bad for Boo Nd is hitting the share price accordingly but I'm thinking its more about the audit companies not wanting to have to audit the supply chain. They just want to do their nice easy high level audits and get paid not actually work so maybe it's Boo saying they are going to do all this work to clean up the chain and show all their workings that's putting the auditors off. If there is a financial issue then PWC are already accountable so their leaving doesn't help them. Just a different perspective on events DYOR
RE: Four out of five top auditors snub Boohoo after fast fashion scandal19 Oct 2020 22:45
Actually 3 snubs, KPMG can't bid as the report said. All very exciting if you're into that kind of thing. I doubt the financials are too bad otherwise they wouldn't be able to afford 5 acquisitions in the last year or so. If volatility is not your thing you may want to stay away from growth stocks especially on the Aim
companies to make more money can instead of diluting their shares, sell bonds which will mature at some date and will pay a dividend during their life. The way I read this is that BATS are going to use some of their spare money to buy up the bonds that their subsidiaries have sold to raise money.
This way whilst they still have to pay the price of the bond they will save money by not having to pay dividends any longer.
This maybe completely wrong so don't use this to make any big plans but it is how I understand it.
Dragging this back to the actual company this page is about. Cheerful one danger is a company taking on too many or too big an acquisition in too short a time frame slows down their growth (MicroFocus good example). They already picked up Karen Millen & Coast last summer and Warehouse & Oasis a couple months ago so if I was them I'd be consolidating before looking to bring snap up someone else.
This board is not a great one for investors as the amount of euphoria and pessimism will cause rash decision making. Perhaps the constant request for an RNS on another acquisition or fund buying in speaks to this.
If you are going to buy or sell Boo then make your decision away from this board!
14m ago 10:15 BREAKING: British Airways fined £20m for data breach The Information Commissioner’s Office has fined British Airways £20m for failing to protect the personal and financial details of over 400,000 customers.
Good point on working with house builders especially with the push to build from the gov. Regards Tesco I expect it will be more like stores will have one fridge, vacuum, etc on show but if a customer wants to but it it will be delivered through AO with Tesco taking a cut. A bit like Argos where they have items on the shelf but the one you buy is from the warehouse
Good luck If your time frame is more than a few months you should be fine here. I would expect a jump when they state they are bringing the dividend back too and for me it looks very undervalued at moment but don't just buy because some random on a chat board said it looked good !
Everyone has to make their own decisions on holding a stock but for the company has a current value of 21 billion compared with net assets from the last financial statement of 32 billion so to me that's a buy
looking good. Have been watching this share for a few months but wanted to wait to make sure they were finally making a profit. Looks like you all got in nice and early as it certainly looks to now have a strong future in this space. Now I just need to find some spare money to start building a holding so don't go too much higher too quick!! :)
To be fair Asos don't have the drag of the media attacking it constantly to spread doubt. Also I am not sure Asos was that amazing was it? It seems pretty much in line with expectations and I think people were expecting a lot more after Boo's results.
Never a good thing You need to learn to kill your darlings! I like Boo but since the day b4 results I've profit taking (did put some back in at 330 though). I mainly stick to boring div stocks so then I don't worry too much about what the share price is doing. I have points where I'll sell the rest of my money in Boo and just leave the profits to ride. You never know when is best to sell a stock which is why you need to plan before hand to try and take the emotion of the moment out of it ( I need to get better at this)
Wolfofworks at least these are both companies making money so unless you need the money or are on leverage today may not be the best one to sell as without the media attacks Asos will probably bounce back over the next week or two. I'm not in it though as it's P/E ratio is too high for me and works against its sales for growth (not that that seems to bother Amazon and Tesla !)