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And Asos swings back up too!

Here we go!

Here we go - looking like it’s going for that order!

Makes a change for big players to raise targets on asos!

That upbeat update really helped

First J P Morgan states £10 on this on the morning of the update

Then Shore put a higher figure I think

Now today Jeffries RAISES its target

Yep on the press call reporters asking the board about the notion of a takeover bid seemingly on its way and all they could do was say they were braced for a bid. It’s coming, I’m sure of it

Looks like the 47p order could be filled today.
Then it’s 50p and beyond

Proactive quoting Shore Capital saying they believe Boohoo’s update on Thursday will be far better than most feared.
I guess they weren’t as exposed to the Royal Mail saga as asos… plus boohoo more of a discount fashion seller than asos and shore say it’s the discount end of retail doing far better than other predicted.

“The broker believes Black Friday was particularly strong for the AIM-quoted retailer, which rewarded loyal customers with further discounts before the last Friday of November and maximised profits with the casual customer thereafter.”

No wonder shorts are closing

Boo will be an even better than Asos I’m sure if it

I see Proactive quoting Shore Capital saying they believe Boohoo’s update on Thursday will be far better than most feared.
Boo weren’t as exposed to the Royal Mail saga as asos… plus boohoo more of a discount fashion seller than asos and shore say it’s the discount end of retail doing far better than other predicted.

“The broker believes Black Friday was particularly strong for the AIM-quoted retailer, which rewarded loyal customers with further discounts before the last Friday of November and maximised profits with the casual customer thereafter.”

No wonder shorts are closing…

That GAM international short position opened a couple of months ago was crazy. What were they thinking?!

Yep. Asos really storming it now.
Just checked my trading history and for months and months we’ve been between 480 and about 6 quid.

In the last week asos has taken off, quite rightly.

The board clearly know what they are doing coupled with the view it’s a prime takeover target, and with that upbeat update this will go to at least a tenner very quickly.

JP Morgan put a £10 target on it the morning of the update which has helped but I think Shore put an even higher figure?

Isn’t it funny how once the shorters retreat and things turn positive in the press for boohoo, this board becomes a completely different place and all the odd bods disappear

I agree boohoo will rise. In fact I think it’ll take off on thurs.

I see Proactive quoting Shore Capital saying they believe Boohoo’s update on Thursday will be far better than most feared.
I guess they weren’t as exposed to the Royal Mail saga as asos… plus boohoo more of a discount fashion seller than asos and shore say it’s the discount end of retail doing far better than other predicted.

“The broker believes Black Friday was particularly strong for the AIM-quoted retailer, which rewarded loyal customers with further discounts before the last Friday of November and maximised profits with the casual customer thereafter.”

No wonder shorts are closing.

If asos boomed 20 per cent on their update, imagine boohoo!!

I see Proactive quoting Shore Capital saying they believe Boohoo’s update on Thursday will be far better than most feared.
I guess they weren’t as exposed to the Royal Mail saga as asos… plus boohoo more of a discount fashion seller than asos and shore say it’s the discount end of retail doing far better than other predicted.

“The broker believes Black Friday was particularly strong for the AIM-quoted retailer, which rewarded loyal customers with further discounts before the last Friday of November and maximised profits with the casual customer thereafter.”

No wonder shorts are closing.

If asos boomed 20 per cent on their update, imagine boohoo!!

Whoaaah! What just happened ?!! Short closing? RevB leak?

On the back of yesterdays very positive update, JP Morgan immediately issued a target of £10 for ASOS

Now, this morning -

SocGen RAISES Asos price target to 1,180 pence - and places a 'buy' rating on the stock.

This is still exceedingly cheap and I think many now realise a takeover bid could come quickly at this price.

At the 0830 press call, many business reporters asking about the possibility of a takeover bid and all the board could say was they would be ‘braced’ for any bid!

Asos marks biggest gain since April 2020

ASOS surged 20.9% today after the online fashion retailer said it was making good progress with plans to improve profitability.

JP Morgan states a target of £10 for the stock.

Rival boohoo also rises more than 10 per cent on an upbeat update from ASOS.

I think a few thought there would be a fall back during the afternoon but there we are, despite what I imagine would be a fair amount of new investors profit taking, it still rocketed up.

A very very good sign.

A lot of talk on the press call from reporters about a potential bid coming in, and all the company chiefs could say were they were braced for it!

Even at 7 quid some big player could bag asos for a bargain. And now that we know all is on track for a very strong recovery here with an exceedingly confident update then I think the bid could come very quickly.

So the J P Morgan target of £10 could in fact be blown out of the water completely. Perhaps those investing at £20+ a year ago may even get their money back!

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.