That GAM international must be gutted
Relatively big new short position from them
What a great day for asos and boo.
Someone check on jongle, he appears rather quiet today…
AJ Bell analyst Russ Mould commented: "So far, it feels like retailers are doing better than feared. How far you extrapolate this resilience depends on your view of whether households have already faced the worst of the impact of mounting bills and rising interest rates. However, with many people still to roll off cheap fixed-term mortgage deals and further increases in the energy price cap to come, there is certainly no room for complacency."
Among those to star on Thursday was Asos. Shares in the online fashion retailer jumped 14%.
Its revenue for the four-month period to December 31, which it labels as P1, was GBP1.34 billion, down 4.1% from GBP1.39 billion a year ago. At constant currency, revenue fell 6%.
Its adjusted gross margin fell by 10 basis points to 42.9%, Asos said.
More promisingly, Asos said: "Actions taken on pricing and the reduced use of air freight drove an encouraging progression through the period relative to the prior year."
Asos also drew attention to GBP300 mullion worth of profit-boosting measures it has identified for the current financial year. It hailed "significant progress" in its 'driving change' plan.
The market seems impressed.
Ah Simon! We didn’t expect to hear a peep out of you today…
Yes slightly revised to a tenner, but great news that such a top institution believes this has 50 per cent upside dontcha think?
JP Morgan has this morning stated a £10 price target for asos!
As I said earlier, I can see £10 very quickly here
Tesco issue a good update - the share price down.
Halfords down 20 per cent this morning
Asos booming - so I think something bigger at play here. Shorters know they need to get out quick.
Ashley buying more?
Or could the company be implementing that buy back already this morning?
At the press call many reporters all saying about a potential takeover bid and the chief exec just saying we are braced for that.
I think they know it’s coming
Lovely short squeeze happening right now
Get in quick !
Well it’s all extremely positive from asos this morning
Anyone wanting to make a move (Mike Ashley) needs to be quick.
Perhaps something happening even this morning?
Huge buys going through right now.
Already up 7 per cent
Ashley already bought 5 per cent. Could he be trying to get an even bigger holding of 9 or 10 per cent to move his biggest move ever?!
Extremely positive from asos this morning
Anyone wanting to make a move (Mike Ashley) needs to be quick.
Perhaps something happening even this morning?
Huge buys going through right now.
Already up 7 per cent
Ashley already bought 5 per cent. Could he be trying to get an even bigger holding of 9 or 10 per cent to move his biggest move ever?!
Very positive
Boats more than optimistic of a strong return after recent times. I can see this reaching a tenner in no time at all.
This writer seems as certain as me there will be a bid. I think that’s a good thing, will get this stock back up to more realistic price levels and send the Shorters packing!
https://www.fool.co.uk/2023/01/10/should-i-buy-asos-shares-in-2023/
Positive signs for boohoo ahead of trading update…
https://www.trustnet.com/news/13353788/positive-sign-for-uk-companies-as-firms-lower-shorts-positions
Analyst comment..
https://www.trustnet.com/news/13353788/positive-sign-for-uk-companies-as-firms-lower-shorts-positions
Dogger’s post aged well. Ha!
That’s because many feel Asos a prime takeover target.
I agree - absolutely ludicrous priced, which is why reporters asked the chief exec at the last press call if he was braces for a takeover bid(s)…
With stocks like THG and Boo still down today but Asos flying makes me wonder if a certain Mr Ashley is topping up (again).. hmmmm the plot thickens..
Don’t be so tetchy, I said the article was “3 to watch at Christmas” and posted the asos section from it.
Good grief!
HL just sent a note to all subscribers - “3 to watch at Christmas”
Top of the list ASOS
“Their problems aren't going to be solved by a strong Christmas performance, but it would certainly soften the blow.
The group sells products all along the price scale, meaning it's set up well to offer something for everyone. At a time where consumers are becoming increasingly cost conscious, this should be an advantage relative to other fashion retailers, who typically only target one price-point.
There's also the group's Premier programme, which offers free delivery for a year. This service grew its customer base by an impressive 12% last year. Given that the average Premier customer ordered 3.5 times as often as a regular customer, this programme will be a key driver of both customer loyalty and profitability moving forward.
The group's balance sheet is looking in better shape thanks to freshly negotiated terms on credit facilities. That at least offers some breathing room while ASOS tries to get cashflow back into positive territory, something management expect to deliver next year. Though we remain cautious.
One thing's for sure, if ASOS is going to turn its fortunes around then a strong Christmas period would be the perfect present.”
Very good news