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If he takes just another 7 per cent he will own more than than Mahmoud and Carol combined…
Something happening here, no doubt about it
Oh what a surprise up it goes again. So predictable.
Shorters are really screwed here
The market reacting really positive to this. Good sign before the trading update.
Lord Kirkham set up what would become sofa retailer DFS from an old snooker hall in Doncaster. He made £450m from floating it on the stock market and other share sales during the 1990s. Kirkham then made a further £400m by taking DFS private, and selling to private equity.
If I was Kamani - with boom time ahead - I’d be looking to take this private ASAP.
Surging profits at primark.
Boom time here.
I wouldn’t want to be short here right now.
Primark making money is no surprise they are a perfect recession business. Boohoo quite similar really in that is inexpensive clothing for the youngsters.
When is next trading update?
Kamani’s ‘boom time’ comment caught on camera last night would suggest stronger than expected results next time round tying in with Primark this morning so this is all win win to be topping up at these levels.
So glad I watched.
Interesting to see the Kamani “boom time” comments. You can see now why Ashley has been filling his boots.
Looks a very slick operation and the fact they are nailing down suppliers is a good thing.
Typical bbc desperately trying to bash a great British business.
I’m topping up tomorrow.
Less than a week on from results and we are now higher than the day before the gloomy update!
It will rocket if they suddenly announce they’ve sold Topshop for hundreds of millions…
We are up for a reason!…..
Panorama said its undercover reporter was told to process a 5% reduction on more than 400 orders that had already been agreed, saving the company thousands of pounds.
And climbing further today.
The notion that Top Shop could very well be about to be sold for ‘hundreds of millions’ is rather useful at the moment as many parties realise that when this happens - even if they only get 200m for it - it makes a total mockery of the current SP.
Selling TS - just one tiny (relatively new) piece of ASOS for more than half of current market valuation of the entire company will create a spectacular short squeeze.
Ashley desperate for it but so is the US firm.
And others I would imagine.
“Its 2023 performance paints a mixed picture of its [transformation] strategy, indicating areas that could benefit from focused improvement,” said analysts at Shore Capital. “The second half of the year did register a 100 per cent year-on-year increase in adjusted earnings before interest and taxes and a boost in free cash flow by over £125mn”
José Antonio Ramos Calamonte, Asos’s chief executive, said the company was reducing the amount of stock it held and so did not think it would need the Litchfield site. Calamonte said the closure was about “relentless discipline to optimise costs” and not linked to raising money, adding: “We ended this year with available cash of £430m which is certainly more than enough.”
He declined to comment on “speculation” about the sale of Topshop but said selling off unwanted stock would also bring in more cash. Calamonte, who became chief executive last year, indicated that Asos would be using the Black Friday discount period later this month to offload more unwanted stock,more than a £1bn of which had built up under the previous management.
Sharecast News) - Analysts at Berenberg reiterated their 'buy' rating on retailer Asos on Wednesday but lowered their target price on the stock from 760.0p to 600.0p even as it said the group was "all geared for growth".
Berenberg noted that Asos will embark on the next phase of its strategic reset in the 2024 trading year, having successfully implemented its "Driving Change agenda" and delivering £300.0m in profit improvement and cost savings. The new strategic platform aims for a return to top-line growth in the final quarter of 2024, with a more efficient and focused cost base, a more cash-generative business model, and a strengthened balance sheet.
In Berenberg's view, the stock's current valuation underappreciates the progress made by "Driving Change", or the benefit to the business that will be delivered from the next phase of the company's strategic ambition.
The German bank noted that Asos will target a return to top-line growth in 2025, following increased investment in marketing, and said that as well as generating top-line improvement, management also expects margins to expand, given the measures introduced in 2023, and now targets 2025 EBITDA margins to be in line with pre-pandemic levels of roughly 6%.
"We expect the next phase of Asos's strategic implementation to continue the positive momentum generated by Driving Change. We anticipate the return to growth under the newly outlined strategy to be coupled with a more efficient and effective business model that is insufficiently reflected in the current valuation," said Berenberg.
It added that Asos currently trades on 0.3x 12-month forward full-year 2024 enterprise value/sales ratio, being "approximately one standard deviation" below its five-year trailing average.
Up is your answer
I agree this is now ripe for a sale, even being positioned for one I think - but price will be higher than that.