Member Info for Pmoran1969

Jaysus I don’t think there’s a stock I’m invested in now that hasn’t attracted at least one eejit to the board who wants to ask a loaded question or make a statement about why I shouldn’t be invested in it. Thank god my teachers were correct when they said ‘can have a tendency not to listen’ all those years ago!!

medi might I suggest you give the boohoo board a go, there’s a few of your mates over there trying it on as well but I’m sure you’ll find the normal posters there most welcoming to you and your posts. We were rather hoping to keep bwng somewhere along the lines of sensible if you don’t mind!

If boohoo are doing materially better or worse than the last guidance they issued at the September interim results they are obliged to let the market know via rns is the way I understand it.

They must do so as soon as that information is available to them so they cannot hold the information back for strategic purposes just because they are part of a meeting with an mp committee later in the month and it might result in awkward questions or bad PR is how in understand the rules to work.

That said if Black Friday was so busy or there’s a slight delay in obtaining the figures for the sales in us or Middle East or if there’s delays due to staff working from home etc because of covid that this means they don’t have all the facts in the first week Of dece, er this year that would be a valid reason to not update.

So it could be that we are inline with market expectations so there will be no guidance notice And the next update we get will be the planned one in January and if that’s the case then I believe we are looking at a 25% increase in full year revenue with a 10% margin and in theory that should have no bearing on share price as it’s expected and already therefore priced in. Alternatively we could be materially higher or lower than forecast but not have all the relevant data to be in a position to make any announcement yet.

Personally I can’t see them not having beaten their expectations given the second lockdown and the noises other companies have made about how busy they have continued to be during lockdown two.

I guess we will Just have to have the patience wait and see and the confidence that all will be good at some point!

Jim, I’ve got my isa and share dealing account with Halifax. I don’t trade a great deal and overall the platform fee plus share dealing fees (£12.50 a pop is expensive) add up to it being the cheapest platform for me especially if I use the commission countdown period (£2.00 a trade from memory) to do any adding to my portfolio.

I opened a sipp with ajb just so I could get their shares at the ipo so IVe done well out of owning them so far. It came out about the same costs as others and cheaper than Halifax to open the sipp so it made sense to so I could get the ajb shares. I only hold shares and investment trusts so don’t know hiw it works price wise for find lovers.

Now to be fair this year has been a strange one and I have bought and sold more on both ajb and Halifax platforms than I would normally and when I have wanted to buy I haven’t been able to wait for Halifax cheaper trading hours I’ve just got in when I needed to take advantage of ultra low prices in the stocks I was interested in. So it’s possible that either or both of ajb and Halifax might have been pricier for me than other platforms out there.

I can honestly say I haven’t experienced any problems with either platform Either through the web page or the app and on those ocassions when I have had a question or an issue both companies were there for me quickly via online chat or email.

I wasn’t trying to trade when the world went mad over a vaccine coming and every platform suffered because I was already invested where I needed to be at that point and the only time I’ve ever had a frustration over not getting an immediate quote has been when the market has been particularly volatile at open and I’ve been offered a negotiated trade by Halifax. But even then after a couple of attempts I’ve been able to get a quote. Every time I’ve used ajb I’ve been quoted, placed trade and within minutes(in the case of a sale) funds have been available to reinvest elsewhere.

Deang, the way the press have behaved in recent months we could see them use the meeting as an opportunity to regurgitate old news about Leicester factories and the Levitt inquiry etc. However that last few negatively slanted press stories had little impact on sp and actually we’ve seen more positively slanted reports recently.

Personally I think the appointment of leveson and indeed Andrew reaney as director of sustainability or whatever his title is are very positive messages that boohoo are taking their agenda for change implementing Levite’s recommendations seriously and although kamani did get criticised by Levitt for being a bit arrogant and not taking his meeting with her as seriously as she would like I am hopeful that for this EAC meeting on the 16th kamani is there to show that he’s serious about his responsibilities as the ceo but will leave the bulk of the responsibility for handling any questions to Andrew reaney.

So actually, if handled correctly by boohoo and if the EAC are focused on fixing fashion rather than Doing a liz Kendall and kicking boohoo the outcome of the meeting and any press coverage could actually be a positive story ‘boohoo making the right changes after the scandal’ type of thing rather than negative.

As for tcm and one or two others yes everything they utter is at best dubious to say the least!

The EAC bet their fingers into all sorts of stuff and they did a fixing fashion investigation a few years ago looking at effects of production and logistics on environment and the supposed wear once and throw away culture relating to fast fashion.

They actually made a bunch of recommendations most of which the govt rejected and they are revisitin/reviewing fixing fashion To see where we are now. The meeting on 16th is a virtua, meeting scheduled for a couple of hours to take oral evidence. The submitted written evidence as part of this review included evidence from M&S, Tesco’s, Boohoo and others as well as academics and trade union groups etc. I’m not sure who else is attending the oral evidence session on 16th in addition to boohoo.

The written evidence boohoo submitted for this meeting looked fairly solid to me and kamani is attending the virtual meeting with Andrew reaney who is the new director of responsible sourcing.

I suspect that as boohoo have gone down the route of employing someone in a role directly related to responsible sourcing and this is the environmental audit Committee most of the questions will be directed to mr reaney and even if they are not I suspect kamani will be expecting him to give most of the answers.

There is a labour Leicester mo on the committee but even if she were to turn up on her high horse to dredge up the Leicester factory issues the boohoo message is clear, they are committed to supporting U.K. jobs by continuing production within the U.K. They are committed to addressing and implementing the recommendations Of the Levitt inquiry and they have already made considerable inroads in their recruitment of appropriate senior people within the leadership team and as non exec directors to enable them to do just that.

I don’t see this meeting being a cause fo concern for boohoo.

I agree regarding the scope for us growth, however if we do get an update/guidance rns before the next official trading update in January I expect it will be relatively general and (hopefully) something akin to “hey you known that forecast for the full year of 25% revenue increase and 10% margin? Well forget that we already beat it and have another 3 months of trading left!!”, or something similar!

The breakdown by region won’t be with us until the Jan trading update.

It would be rather nice to see a positive update in the next few days and a subsequent boost in the sp. it would be even nicer to have a few positive updates around the agenda for change and a bit more institutional interest before the jan update to give us a nice rally into them and the cherry on the cake will be a positive jan update that results in a further demand for shares and hold/increase the pre update share price instead of the drop we saw after the sept half year results.

Ian b it’s not just about the success of Black Friday though.

the trading update they issued last December stated they were inline with market expectations and the previous guidance given. The interim results in September stated they were expecting 25% growth with a circa 10% margin for the full financial year ending feb21.

Smashing every Black Friday record as a business is one thing but they were deliberately cautious during the sept interim results analyst call because of the uncertainty around covid for H2.

If they issue a guidance note this month that confirms they are on track for 25% growth for the year with a 10% margin as previously stated this might have little effect on the share price. It could even drop a little if investors were expecting better.

But if they were to come out and say h2 to date has seen unprecedented demand and sales growth has continued at a pace during the second lockdown and they anticipate total year to be above the previous guidance given in sept then that’s a whole different message that could give the share price the desired upward momentum.

There will still be some concern from the analysts until they are convinced that Future margin remains unaffected by any changes being made to the supply chain but if we get an update before the official January trading update that says we think we are going to beat the forecast that coupled with the positive changes already communicated re agenda for change and non exec appointments I think that could be instrumental in moving us toward the £4 by Christmas some people on here are looking for.

In terms of timing they will know their numbers for Ytd to end of November in the first week of December and are most likely to be in a position to issue an update as soon as this week. However boo might want to see how the first few days of ‘out of lockdown’ goes so that they can comment (If relevant) on how demand remains strong despite high street reopening and there being uncertainty around the tier system. That would make the beating target message even more compelling.

Yeah kamani and Kane know why don’t you ask them if they will tell you.

Kallumama the only return that’s brother if me at the moment is your return to the board to spout the same old rubbish!

Returns are a risk for any business but it specifically affects what we would today call online only or etail businesses. However before the internet there were Lots of companies like littlewoods and Kay’s catalogue who specifically catered for home shopping. Littlewoods became very group and Kay’s got swallowed up by nbrown (jd williams). There’s a wealth of knowLedge and current historical data within the industry and online companies constantly monitor customer returns as part of their standard process just like they monitor number of orders, average spend etc.

Boohoo already have a slick returns receiving and back into stock process and any change to the frequency of returns will be managed the same way any changes to orders received or average order spend etc will be managed.

Boohoo have already proved that they can react quickly to trends and customer behaviours so I see no reason why they won’t be able to react to react to future challenges. I would suggest that they are better placed than many high street stores to slow down speed up or stop production and change their product offering (look at how quickly they were able to react to the trend for loungewear during lockdown) so if a particular line isn’t as successful as they planned or is generating a higher rate of return they will improve it or ditch it.

Returns is a risk just as a recession is a risk or the supply chain is a risk but boohoo have satisfactorily demonstrated that they can manage these risks (albeit they needed a little encouragement to address the latter).

You clearly think returns is going to be a major problem for boohoo. I don’t. My suggestion would be put your money where your mouth is and sell your boohoo holding (You haven’t actually got any though have you?) and buy Primark (abf). I own both and I expect boohoo will give be the better growth whereas abf will continue to grow at a much slower pace but will continue to pay a not inconsiderable dividend.

People power one of your your best posts ever.

You went through a period of constantly posting overly positive repetitive stuff that I found a bit frustrating (nowt wrong with the message just the frequency and repetition which i felt affected the impact and like i said frustrated). Hey who the hell am i to criticise but just telling you how i felt at the time.

But i have to say ive missed ya lately and its good to see you back and i enjoyed todays post.

That said if you start giving it large about reading the ft cover to cover and constant research research research advice you are going straight back in the 'frustrating' file! :)

Inferno the link lmeng posted yesterday has a link within it to the written wvidence submited (thanks lmeng). I see kamani will be attenfing with andrew reaney our new director of responsinle sourcing so hopefully he will be doing a lot of tbe performing. The written evidence submitted by boohoo seems solid and humble enough from a quick scan through so as long as both kamani and reaney stivk to the script i think we will come out of it in a positive light.

Will be interesting to see ehat happens today.

Earlier vaccine news items seemed to bolster yravel and leisure or traditional retail at our expense but less impact when the second and third trial results came out.

It was obvious that vaccine approval was coming so i wondet if its mostly already priced in?

I think the rule is once you go over the specified percentage ANY change to holdings needs to be declared.

It’s a bit frustrating when we are thinking an RNS might be a guidance note or new appointment or whatever and on one hand it also seems odd that Morgan Stanley are piddling about buying and selling shares every second day.

I would like to think Morgan Stanley were so confident in boohoo they bought the maximum allocation for the fund)s) they invested and are simply rebalancing to comply with their fund(s) rules as our share price or other prices within the fund(s) fluctuate. Although rebalancing continually in itself seems a bit odd.

The important thing is they aren’t dropping a mandatory notification to tell us they e halved their holding!

They’ve suckered me back in!!

Rns at 0700 yippee it’s a guidance update stating we’ve had such a good Black Friday we are considering putting in a £600 million bid for Topshop to guarantee we get it.

Nope it’s just Morgan Stanley letting us know their holdings have changed by 0..01%!

Rag trade I’ll look that story up. I met Christopher Donnelly briefly once through a mutual acquaintance. A proper manc lad and a thoroughly nice bloke although I hadnt got a clue who he was until afterward when my mate told me that’s one of the Donnelly brothers who created the gio-goi label! I would love to have had an hour with him just to chat and also to verify if the stuff my mate told me about how they effectively blagged their way into the fashion business was accurate but theirs is
definitely a story of rags to riches and back out the other side that I’m sure would make for an interesting read!

Ragtrade ive always found your ragtrade related posts interesting, I used to lIve and work in Manchester for a catalogue co. So am familiar with how they used to operate both from a buying perspective (effectively buying nearly two years in advance to be able to get stuff ordered made samples delivered and models photographed so they could produce the book and send it to customers) and how good they had to be at both forecasting returns and be able to manage them back into saleable stock. The world has moved on somewhat and the company I worked for no longer exists but some aspects of getting a widget to a customer on home approval, managing the returns process and getting dud stock out of the business to jobbers or discount outlets are fundamentally the same. Boohoo is very similar to what used to be the old fashioned catalogue business doing their own version of what the fashion houses or branded guys are doing under their own label.

Of course boohoo are doing it better and faster than the old catalogue guys ever could hope to and the whole marketing game is very different these days but what gave me the confidence to invest in boo (after the times story) and bwng (around April) was the stuff I knew from the old catalogue days.

A friend in Bolton used to work in textile managing a room of machinists years ago and told me how a lot of the job was piece work related so new or slow machinists didn’t earn as much as the better faster ones (probably wouldn’t be minimum wage today). He said when it came to overtime the girls would be fighting to get a shift but Overtime shifts were only given to the faster machinists. For certain products the work could be done on any decent sewing machine so slower machinists were allowed to take pieces home and do them On their own machine and bring them back. They were checked for quality and paid per piece. I remember him telling me that one of the factories he used to work for effectively banned the slow machinists from coming to work but allowed them to work from home on a per piece paid basis. He reckoned there was a whole bunch of working and signing on going on and interestingly enough I live in Leicestershire now and one of the guys I play golf with worked for dss Fraud before he retired and confirmed that that type of working from home for pennies per garment stuff while claiming benefits is rife in parts of Leicester. I figured if that’s the case there’s half a chance that boo suppliers might be at it but there’s no way the times will catch them if the dss fraud boys couldn’t so that was it decided boo oversold and me invested. Yeah I read the annual report and previous results and liked the story but it was life experience and own instinct that sealed the deal.

Dan is it possible that some people buy a share Just because it was recommended in a newspaper column? Some people might have seen the slavery story and the massive price drop and thought hey I’ll have some boo they will bounce back at some point. Likewise some people bought shares in companies in March when everything dropped off a cliff simply because they believed in those companies and knew instinctively that they would survive and the share price would get back up to pre covid levels.

I have to admit to buying more Ulvr, azn, Dge abf gsk and imb When they fell off a cliff without doing any further research on those companies that I already held anyway.

I had a list of companies that I saw as recovery plays this year so added mks, nex and bwng to my portfolio and I also added cna and barc too. I didn’t do a great deal of in depth analysis but I did what I thought was sufficient research to justify the exposure in each of them.

I held wmh and took the opportunity to average down when they were sitting at 80p based on what I thought wmh could achieve in the USA as individual states legalised gambling, that decision was based on factual data as to what market share wmh had in the us and the deals they had already set up but the main reason I backed that particular horse was based on instinct, people like to gamble Vegas is always busy and the yanks will lap up legalised gambling.

I considered buying shares in greggs when I noticed they were popping up all over the place at service stations. I didn’t like the price and whilst I can recall what the P/E ratio was at the time I binned it off because I thought the future growth wasn’t there to justify it. I think it is for boo whether they get Topshop or not and whether they allow the brand to be sold as is currently with a part wholesale model.

You keep banging on about 32 years profits and why can’t anyone answer my questions as though you are the nominated lecturer for the board and you throw out comments akin to ‘well done Johnny at least you were listening at the last lesson‘ when someone says something that you think matches your own one dimensional focus.

The simple fact is that not everyone on the board shares the same opinion nor do they go about the task of assessing whether a share is a buy hold or sell the same way. Perhaps you should just accept that and move on rather than trying to ‘educate’ us all to get to what you believe is the right answer.

You’ve made your point and if it will shut you up I’m happy to be the first to say well done dan and thanks so much for sharing your unrivalled knowledge of how to value a share, you’d put Benjamin Graham to shame and It’s just a shame that some people on here are merely gamblers and just won’t learn from you.

Of course if it won’t shut you up then I’m saying it’s well undervalued and will be knocking on the door of 4 quid a share a week next Tuesday.

I tell you what I’ll be doing for Christmas Rag. Breaking the rules that’s what!

I will also be doing some investing on the 26th. I’ll be investing in the king George vi at Kempton and will almost certainly be looking at what’s worth investing in at Wetherby too!

Dan90 I’ve no wish to fuel the fire but I do have a couple of questions.

If next and ASOS came knocking and asked if they could restock our products should we let them?

If next decided they were going to conquer America and China and just for good measure were going to put a shop on every high street in Spain and Italy too and they were successful how much of our product would they have to be selling before we said they couldn’t stock it any more?

And just to be really awkward if saks and Macy’s and forever21 got in touch and said hey limeys we see your doing ok over here and we like your product could we please stock it in our stores should we let them?