Member Info for ragtrade

BFD/SCB, I hear small snippets re trade being marginally better, the group is pretty diverse now, which is a strength but we stopped working with them sometime back as their terms went to 90 days which is always a sign of distress. Over the last two/three years we have seen a fundamental shift with Temu and esp the Shein factor really starting to bite (Government has to act on this) . I cannot see any real change here to pump this share unless MA gets involved but i'm not sure that the status quo or the MA effect will really take this share back to where it was. GLA

In the words of Vinnie Jones it's been emotional.

Sold 75% today piled it all into XRP, which i have invested in at various points, and has mitigated loses here, i don't know what's been more painful the BH share or this board which has declined in line with the share, still got some skin the BH game just in case MA factor rubs off.

Don't invest if you can't afford to lose.

As i have mentioned and others mentioned i think Jose's time is up, need to see results but i do hope writing is on wall for him , i think he has run out of talent and market and environment is beyond his comfort zone, Test React is nothing new is been around for years , used to be called trial and repeat BH dressed it up as something amazing but its what all fashion companies should be doing to test and push newness price points etc and by placing small qtys its not rocket science to de risk.

Anders is every bit as shrewd as MA in fact i'd say he his eye for product is way higher, go take a look at last set of Best Seller results, it tells you all you need to know.

I supply Asos and TS. The boat for Asos stores sadly sailed sometime ago, oppo missed during purchase of the Arcadia Brands. Lots of buzz how evs re TS/TM , the fourth coming stand alone online platform is creating tons of chat , people saying TS back, irony is never went away just buried under the pages of Asos with no direction. Anders see's potential big time, hard to unravel all at once hence the 25% remaining as all staff systems still at Asos HO but it is being navigated to Bestseller systems so expect a full split and of course stores at some point. BS has need pockets and profitable !!! Anders seeing the next big thing and from what im seeing the right teams now in place. Asos needs change i do not think next results will be good enough, more loss, perhaps slowing but i'd say Jose has run out of time.

Roberto there seems to be 2 links listed to this share on Google 1st one which is not updating the 2nd link is where you will find your post.

Jorid, yep they were in a dire position overstock wise after the heights of apres Covid, they did manage to sort most of this out and going into 2023 i think we all thought the worst was over but back end Summer of 2023 Sales started to dip again, just i think through a whole combination of things. I thought Calamonte was on right path but i'm deffo not convinced by the appointments for Heads of Buying and for a company that's pure online their Social Media strat is woeful, perhaps due to being strapped for cash. The much vaulted Test React has been around for years and and years, used to just be called trial then repeat but they have (and BHoo) dressed it up like some Golden Goose. Currently the only Rag Trade Retailers that are trading really well in are either through overseas expansion or in older demo. One thing for sure it's Fashion so nothing stays the same but it does feel a bit like Asos and BH are fighting for survival or at very least management are fighting for their jobs.

I supply Asos and i don't disagree too much with Roberto.

They are struggling to eek money from their demographic, for last 12 months the volumes they book with suppliers on each style is massively down, average order was once over 1000pcs now they push for 300 to 500 on each order and even amount of line buys are down. They need a strong SS25 with good weather to shift stock because even at these volumes stock is not shifting quickly enough for many of the reasons RL has mentioned. Competition has always been there in fact i would argue when they were on way up it was far more competitive, in last few years the High Street has been decimated and when River Island call in Advisors then you know current demand is fundamentally flawed, its largest demographic is the same as Asos and yet High St competition is far less. So on top of RL's reasons i would add the economy is weighing very heavily on the sector and perhaps not just this sector, i expect GDP figs to get worse for the foreseeable as it feels like there is a 2-3 month lag with what's happening at ground zero to figs that get released each month.

Cooler thats a woeful niave mis understanding of how we arrived at 28p and how JL got to M&S. I know someone very close to the recruitment process of this and your interpretation of events is actually pretty comical. Having been on this board for some time i'll just say i agree to disagree and u can keep posting ur knowledge to let the BH Board know how to get this share back to + £4 and hoprfully JL will see ur message that he is a lacky tea boy and retire.

Thanks BFD, actually one common mis conception is that Lyttle is new CEO when he actually has the rather old fashioned !! title of Mannging Director of Clothing , Home and Beauty. Steve Machin M& S CEO im told is laser focused on detail, relentless and ruthless in pursuit of success, so he will have some over him who is less market trader and be in an enviroment morw akin to the Primark structurw which i think is when John was at his best. He is now a bit like a brilliant football player given the spot light at highest level to become a one of the best in industry, will he make it, not sure , was deffo left wanting at BH but so was all of the Board. Timing is everything and it does feel right time right place for him and perhaps time once again changes in right direction for BH but by God the Manc Market Traders need it to be coz if it aint changing its running out.

John Lyttle is no fool, he has a ton of experience and has worked across a raft of demographics in the Fashion Industry, not least with most of the biggest ego's, he is not to be underestimated, actually where he has landed, is historically, a lot more in his comfort zone than perhaps the Manchester Ego Mob. The crux of all of this is the start and the promise Boo Hoo showed and the believe Kamani/Kane had a route to Young Fashion Nirvana . What has been UNDERESTIMATED by a Country Mile by Institutions, Private Shareholders, Kamani's, Lyttle and Kane is just how (despite it being a cliche) fickle and volatile young fashion is, being a shareholder (36.5k shares) i also include myself in this. As i have said on these pages many times before, teenagers and 20 somethings at the best of times don't really have a fashion consciousness, their mantra is cheap and now, SHEIN as we know has hugely disrupted the sector and this has been compounded by a tsunami of issues pre and post covid, again all well documented, a few saw some of what was coming but no one saw all of what was about to unfold not least the people with the most experience and the most to gain, in 40 + years of my own experience in this industry it has been unprecedented. So John goes to M&S which was once itself considered out of favour and out of fashion, the lavender lambswool jumper was purchased by a dying breed (literally) and is firmly now replaced. Machin and Co. go after, with huge conviction, the 30 plus woman and guy who once had a massive choice of bricks and mortar to choose from but no more. It is backing its perceived value not just by quality and price but now with a incredible on message fashion offer which the customer trusts, in all three areas, quality and fashionability =value for price, word spreads "have u seen M&S recently, its amazing" heard this so many times in last year. Where does this leave BH, well as we have said fashion is fickle and so is politics, in comes Trump and all of a sudden the wheel of fortune starts to turn once more, BH is no one trick pony which is why i believe they still have a chance and as long as your in the game the wheel can spin your way aka M&S but it is going to take the whole of the BH Board and their ego's with all their knowledge and all of their A game to exploit any advantage to add value back into this share , only then do they deserve one penny more than they currently get. As for John he gets through an arduous vetting process for the job and lands on his feet but only in terms of direction of travel, he needs to exploit this and i personally think he can fill Richards shoes, but then i've been wrong before hence why i still have 36.5k BH f***#ng shares, arrrrrrgh!!!!!!

Pricey steps down Lyttle steps in

Https://ww.fashionnetwork.com/news/Shein-london-ipo-at-risk-from-closure-of-import-duty-exemption-loophole,1699709.html

SCB , BH family deffo not helped but Shein have massively exploited tax laws and disrupted the demographic of BH , PLT , much less so on the older demo's , UK need to follow suit with US and EU in closing the tax loophole that they have exploited and this is at the expense of UK companies however just to reiterate management still a shocker.

Most retailers worth their professional integrity should be giving out a Christmas Trading update regardless , tbh it's not too difficult to give and accentuate at least some positives and play down the negatives. If nothing is forthcoming then of course it raises questions why, however to mitigate this and throw some mud into the water then a Shareholder topping up is not a bad idea. This is the Manchester Rag Trade Community, it's not Marks and Spencer or Next so just hold your breath until such time that they actually give out some concrete info even then i'd say look for the parts of the concrete that are not set and may produce cracks!!!

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Retail analyst Catherine Shuttleworth added that fast-fashion firms are "under pressure" as shoppers think more sustainably and are "making different choices".

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Utter Bull S##t , if anyone thinks that young shoppers are being more sustainable in their choice of retailer then they are living in cloud cuckoo land, not only are Shein not sustainable they are not accountable to anyone re ESG even on the most basic of compliance, child labour, they have been found wanting, their offer is throw away fashion and they are using the duty loophole by shipping small packages direct to massively undercut UK companies, with young demo's lapping it up, it has zero effect on their choices , no1 driver is cheap. Despite all this Labour seem to have no interest in closing loophole down and despite massive ESG issues are happy to entertain a float.

Https://www.imagesbof.in/casualwear-athleisure-markets-in-india-witness-massive-growth-spurt/

On the trad Indian clothes comment, this is worth a read and as someone who has been going there for 30 years and is there just about every month i concur.

https://medium.com/@nimmysam1603/beyond-borders-the-rise-of-western-wear-in-india-8700da4f9e38

Asos goods made at source which many many many garments are inc mine then means a 20% saving (duty and freight) straight off the bat, speed to market is very very quick.

India is a fully vertical country, it produces all woven product and jersey knits, it has more fabric producers (mills) than other Country. As a whole Etail and Retail is moving away from China to India for production.

On separate note, keep an eye out for UK/India trade deal, it's still bubbling on in background despite Indian elections, Sunak of course needs it and Modi is keen to help, it finishes in June. July /Aug if it happens will prob be final deadline. It means 9.6% duty saving to all product produced there coming to UK and should take effect immediately and as most orders placed on 4 - 5 month lead times it will initially go straight onto bottom line if not passed on to public by Etailer/Retailer.

Just to put into perspective the Omni Channel market potential they are launching into.

India has the largest number of millenials and Gen Z's Globally.

The age group from 18 to 35 years old totals 600 million.

Management, Heads of Buying , Buyers and Marketing, all very aware and agree on the need for TS/TM to be Omnichannel, also they have a wealth of experience on this having come from Inditex, issue is money and timing. I think ship needs to continue to be sailed into calmer waters before embarking on another journey, in meantime Pirates on the horizon, LoL.