Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
Primark is a weird one. ABF were adamant that they wouldn’t be going online citing the fact that setting up an effective online distribution and returns process would add too much cost to the business.
They opened their new store in Birmingham with beauty salon and restaurants in alongside their fashion offering and one wonders if they are simply following a failed model or if they are right to bet on the high street adapting rather than dying.
We shouldn’t underestimate the pleasure some folk get from going to town to meet the girls, get their hair done and have a mooch round Harvey nics before heading to their champagne bar For a bite to eat and a cheeky ****tail. Now not everyone wants or can afford to drop £100 on getting their roots done followed by a £35 pasta dish and a couple of mojitos at £13 a pop but if Primark can offer the same experience on the cheap maybe there’s a place for it?
Maybe offering an experience is the key to high street retailers surviving? Amazon already offer collection from yellow boxes located in obscure places like the local petrol station or the shopping centre.
Could we see the day where a night out on the town starts with collecting your latest plt purchase from a collection point before heading to Primani to buy something to compliment your new plt outfit, getting your hair and nails done having a bite to eat and a Prosecco or three followed by getting showered and changed into your new outfit getting your make up done and having the clothes you turned up in sent home with the rest of your new purchases for next day delivery while you head out to the pubs and clubs?
If Primark was a stand alone business I wouldn’t want to be a shareholder because of the risk that the high street will indeed keel over and die but given it’s owned by one of the worlds biggest food producers and given that they seem to be set on making it a success I’m happy to continue to hold and wait and see if they are right to stay bricks and mortar or will end up taking the online plunge.
I’m even happier that I hold boohoo though!!
I don’t know for sure but I suspect there are more people selling than there are buying!
Here we go I thought rns at 0700 on a Monday telling us we are tracking 50% above the forecast and set for the best ever winter/Christmas trading period ever recorded by any company ever listed on aim.
No just our friends at Morgan Stanley feckin around with their 5/6% holding again!!
They carry on like this and there will be more notifications of major holdings from Morgan Stanley than posts on here from TCM!!
Bruce, I think you’ve got the right idea with the cannabis market. It will grow quicker than the plant itself does but I think there’s an awful lot of noise in and around canna stocks and it will end up like the dot com boom.
There will be winners and losers in the entire farm to table space and I think it’s too early and too hard to sort out the wheat from the chaff. However those companies involved in the infrastructure and consumables are where I would be too. Be that nutrient or lighting manufacturers or the grow room equipment manufacturers for the small legal hobby growers.
The product is definitely here to stay and with the new administration in the US the market will probably get bigger (more states to legalise or even legalisation at a federal level could be in the cards) and I think it’s only a matter of time before a European country goes down the legalisation and taxation route rather than the decriminalisation that’s happened in some European countries so far. Once one country in Europe starts getting significant tax income the rest will no doubt follow and I doubt there will be any competition for the existing (USA) supply companies at least not initially.
absolutely bruce, they have pretty much said they have no interest In the U.K. or European business and only want William hill USA.
Some of the states who have gone legal have made it so a person must first set up an account in person at a sports book (betting shop as we know it) before they can use online betting.
Because betting on sports or horses historically could only happen at the casino or race track (legally) Caesars have an advantage as they already have their casino sports books set up and therefore already Have the physical betting shop location for people to go to and open their account. William hill USA had already opened sports books at various stadiums and even went as far as to set up a temporary one at the ticket collection windows at one when live sport came back but without spectators so people could go and place a bet and register to then bet online.
I think you are right gvc (Ladbrokes coral) and flutter (Betfair paddy power) are also making inroads and should do well out of the legalisation of betting in the USA. I just like the idea of either getting two companies for the price of one if Caesars do spin off the William hill online betting Business or the safety of another income stream through the casinos and resorts if there are any regulatory pressures to hold online betting back in the future.
One things for sure though the yanks will lap up the whole in game who will score the next touch down/ will the batter get past first base type betting which they have just never had access to before.
This could be one of those unique situations where it doesn’t matter which company you choose to be with (Gvc, drafkings, Caesars or whoever) they will all do well as legalised gambling becomes available over the next couple of years or so. A bit like banks or insurance companies used to be!
Anyway that’s it from me on gambling shares, only a matter of time before it’s pointed out that this is the boohoo or the towncalledmalice board not the williamhill or drafkings board!!
I’m more tempted to buy Caesars. They now effectively own William hill USA who are the sports betting provider in all eldorado and Caesars casinos as well as having exclusive deals with various nfl and other sports teams/stadiums. William hill USA account for something like 25% of the market already.
With CZR you get the online and bricks and mortar sports betting as well as the whole casino resorts set up. They may split William hill USA off into a separate company at some point or they may just let both sides of the business compliment each other but given the eldorado team took over Caesars (but kept the iconic name) then proceeded to get William hill on the cheap (given the potential) I think they know their onions and will be a major player in the us betting industry.
Ragtrade I agree with most of what you say, however don’t underestimate the ability of some young garage glam girl coming out of moss side to nip to the Trafford centre and nick the real deal Gucci from selfridges!
Anotherbadday - another town called malice clone? Another reason to use the filter function?
Lmeng10 I’m not sure mate Weba1 has all the details on the asos update perhaps he would be kind enough to let us know what time they intend to publish it!
Marfthew - i see it as positive news but maybe the type of news that stems outflows rather than immediately encourages inflows.
What it should do is start to move the focus away from the past issues and to the future resolutions. If the market is satisfied that governance and supply chain issues are being addresed then all that matters is the fundamentals.
If we are doing so well against forecast that it becomes necessary to issue a trading update in early decemner that will have a much bigger impact now than perhaps it would have done without this news having been published.
Personally I am starting to believe keepcalm's forecasted £3.50 by xmas week. Unless the times uncover that boohoo supply santa with his suit but are using labrador puppies being kept in cages to make it!!!
I like it. Pwc cant work with boohoo because it may tarnish their stellar (yeah sure) reputation but Sir Brian Leveson certainly feels he can. And KPMG happy to work with boohoo on their agenda for change so have no such reputations concerns.
That sends a very powerful message that the bod are serious about their agenda and it really doesn’t hey appoint a so called second tier auditor now does it. After all they could have appointed the likes of KPMG but obviously the wo because of a conflict of interest.
Hopefully this satisfies the existing institutional investors that the company is doing what it said it would, calms those private investors that are of a nervous disposition and shuts liz Kendall and co up!
Brucejamieson We had to have that done to one of our dogs once, wouldn’t wish it on a fellow share holder though!! :)
Very droll spicey but what I really want to know is (sorry thought I was Lenny kravirz for a minute then) have you apologised to TCM about there being 1000 factories in Leicester? :)
Inferno the worry will be if we don’t get a trading update in first week or so of December. Historically boohoo have issued one because they were significantly above expectations so not issuing one would mean we are just in line with expectations.
And by expectations I mean performance against already issued guidance because investors expectations are that boohoo will smash theIt targets and an element of that is already in the existing share price/P/E ratio.
Cheerful you are kind of right it does refer to the full year exoectations but you need to read it more closely and take note of the date it was issued and the dates it refers to.
The full year they are referring to is their financial year which ended 31st August 2020 not the calendar year. So the update came out in early August to tell everyone that the full year will be above expectations and it was.
Still has no bearing on ASOS or boohoo today though.
Cheerful - I don’t even have to click on the link to see that it’s their full year update to end of August 2020. It was good news in August and may even have helped give boohoo a little boost but it isn’t going to do asos or boohoo any good this week!
My view would be that boohoo launch similar copy cat items for sale ranging from $10 to $30 rather than the $25-$200 this particular range sells at!
This article appeared on yahoo finance on Sunday. Doubt the telegraph have anything more to add in their article.
I’m not sure what the Exact rules are in the US but they are similar to our own and as long as a company can prove A sale item was on offer for sale at the higher price for the required period of time then they haven’t broken the laws. Interestingly there have been cases in the us where class actions have won against big names
Item j.c penny. But what’s also interesting is that us appeals courts have also overturned decisions or drastically reduced the payout because no one was financially hurt and the goods sold were worth the price paid!
I guess you could look at this two ways, it damages boohoos reputation and gives the press something to report on or hey we must certainly have arrived in the us if we are being taken to court!! I’m sure the us customers are just as savvy as the U.K. ones and are less interested in the suggestion of up to 60% off and more interested in it’s only $10 and I want it!
Article yahoo finance
Top executives at Boohoo are set to be quizzed by lawyers after judges rejected the retailer’s attempt to dismiss a $100m (£75m) legal action over “fake” discounts.
The fast fashion retailer is accused of offering big discounts to customers based on inflated original prices which were almost never the prices it had previously asked customers to pay.
Manchester-based Boohoo and its subsidiaries PrettyLittleThing and Nasty Gal failed this month to persuade judges to throw out the class action lawsuit.
The court sided with the lawyers bringing the legal claim but reserved judgment on one technical legal argument about whether it has jurisdiction over the parent company in the Boohoo group.
The US lawyers behind the claim said they now expect to take testimony from Boohoo’s executives and high-ranking managers.
Neil Catto, Boohoo’s chief financial officer, is among those expected to face questioning as he provided evidence to support the company’s bid to have the case dismissed.
Ahmed Ibrahim of AI Law, one of the lawyers leading the claim, said: “Boohoo, PrettyLittleThing and Nasty Gal need to find a new business model where they shoot straight with their customers.
“They should admit what they’ve been doing is wrong, issue refunds to the customers they have misled, and put a stop to the fake sales and false advertising.”
The case is the latest reputational risk for Aim-listed Boohoo after scrutiny of the treatment of workers in its supply chain.
Auditors from PwC are preparing to stand down after the furore but Boohoo has so far failed to announce a replacement with most of the UK’s large audit firms ruling themselves out of the running for the vacancy because of conflicts of interest or reputational concerns.
A Boohoo spokesman said it intends to rigorously defend the legal claims but would not comment further on the case.
The firm did not disclose the lawsuit in its inter
Share expert I don’t think they have a choice.
The traditional early December update is only traditional because boohoo have beaten their targets by a significant amount and were therefore obliged to tell the market.
If they have the knowledge in early December that they will be significantly above or below the guidance already declared when they present the earnings report in January then they have to issue an update.
So the issue for us (and the sp) is whether they have beaten the guidance by a significant amount. So from next Tuesday everyone will be waiting for an update and if it doesn’t come by next Thursday/Friday then the speculation will start as to whether they have best the numbers or are just a bit late confirming that they have!
Something else to mess with our heads and the sp!!
And there is still the issue of whether the sales and profit numbers alone are enough to move the sp significantly and even then there’s the old will the share price drop immediately after the results argument!!
I agree that generally pi'a dont have a great deal of. Impact comcerning chamging share prices but im sure it was on this board recently that someone posted a link to an article or a post from elsewhere that was someone who was indeed, admitting to being employesd as part of an orgamisation and their job was to post on boards like this. They referenced the tactics such as asking questions in a way that spread negativity, prompting arguments and filling a board with drivel to push relevant or useful posts further down the pile where they are less limely to be seen.
As for fund managers looking at these boards have a look at this, the whole thing is worth a watch but circa 31 mimutes in the guy from schroders is talking about nbrown and ablut sources of information and lse chat boards gets a mention. Whod have thought eh!
https://www.piworld.co.uk/2020/10/23/piworld-interview-an-hour-with-andy-brough-richard-leonard/