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Asos (ASC)’s purchase of Topshop, Topman and Miss Selfridge will not be transformational but it will provide the online clothing retailer with further reach into the US market, says AJ Bell.

Asos has paid £265m for the stalwart high-street brands amid the collapse of Phillip Green’s Arcadia group. AJ Bell investment director Russ Mould described the brands as the ‘prized assets from the fallen kingdom of Arcadia’.

‘This looks like a decent deal and one that gives Asos the ability to earn higher margins from clothes that it was already selling through its platform under a previous partnership deal,’ he said.

‘It is important to stress that this is not a transformational acquisition, and that’s a good thing,’ he added.

Mould said there should be no culture clash or integration problems, with the brands slotting into Asos’s existing infrastructure.

‘By owning the Arcadia assets rather than just being a wholesale platform, it will have more control over supply chains and an opportunity to increase their reach, such as pushing the brands in the US via department store partner Nordstrom,’ he said.

Asos shares closed up 6.9%, or 310p, at £47.84 yesterday.

Asos (ASC)’s purchase of Topshop, Topman and Miss Selfridge will not be transformational but it will provide the online clothing retailer with further reach into the US market, says AJ Bell.

Asos has paid £265m for the stalwart high-street brands amid the collapse of Phillip Green’s Arcadia group. AJ Bell investment director Russ Mould described the brands as the ‘prized assets from the fallen kingdom of Arcadia’.

‘This looks like a decent deal and one that gives Asos the ability to earn higher margins from clothes that it was already selling through its platform under a previous partnership deal,’ he said.

‘It is important to stress that this is not a transformational acquisition, and that’s a good thing,’ he added.

Mould said there should be no culture clash or integration problems, with the brands slotting into Asos’s existing infrastructure.

‘By owning the Arcadia assets rather than just being a wholesale platform, it will have more control over supply chains and an opportunity to increase their reach, such as pushing the brands in the US via department store partner Nordstrom,’ he said.

Asos shares closed up 6.9%, or 310p, at £47.84 yesterday.

Spot silver hit $30 for the first time since 2013 on Monday as investors moved towards precious metals amid the GameStop trading frenzy on Wall Street.

Silver surged 11.7% to reach $30.06 per ounce at 9:13 am CET. Meanwhile, silver in euros jumped 10.23% at 9:18 am CET to go for €24.3808 per ounce, reaching highs it last saw in August last year. At the same time, silver in Swiss francs went for 26.4081 per ounce, gaining 10.13% to also reach August highs. The six-month high was also seen in the price of silver in pounds, which increased by 9.61% to trade at £21.5256 per ounce at 9:20 am CET.

Gold prices also traded with gains on Monday, increasing 1.13% to $1,865.21 per ounce at 9:22 am CET.

Breaking the News / VP

European stocks were higher in premarket trading on Monday after AstraZeneca and Pfizer/BioNTech promised more vaccine deliveries for the European Union despite initially cutting estimates over production delays. Before markets open, investors will be paying attention to German retail sales data.

The DAX rose 0.82% at 7:30 am CET and the FTSE 100 was up by 0.28% at the same time. France's CAC 40 rose 0.75% at 7:01 am CET.

The euro traded flat against the dollar to go for 1.21304 at 7:32 am CET while the pound increased by 0.32% compared to the greenback, changing hands at 1.37426.

Breaking the News / VP

European stocks were higher in premarket trading on Monday after AstraZeneca and Pfizer/BioNTech promised more vaccine deliveries for the European Union despite initially cutting estimates over production delays. Before markets open, investors will be paying attention to German retail sales data.

The DAX rose 0.82% at 7:30 am CET and the FTSE 100 was up by 0.28% at the same time. France's CAC 40 rose 0.75% at 7:01 am CET.

The euro traded flat against the dollar to go for 1.21304 at 7:32 am CET while the pound increased by 0.32% compared to the greenback, changing hands at 1.37426.

Breaking the News / VP

Gold currently up 1.10%

Fake news.

JD Sports has held talks about running Topshop stores in partnership with Asos as a sale of the fashion brand inches closer.

https://www.dailymail.co.uk/money/markets/article-9204769/Topshop-stores-run-JD-Sports-Asos-deal.html?ns_mchannel=rss&ns_campaign=1490&ito=1490

Online fashion giants Asos and Boohoo paid just £48.1 million tax on £4.5 billion sales last year — a fraction of the £160 million in business rates paid by Sir Philip Green’s Arcadia Group and Debenhams.

https://www.thetimes.co.uk/article/arcadia-and-debenhams-retail-carnage-triggers-tax-crisis-c6rckmbp9

Boohoo swooped on Burton, Dorothy Perkins and Wallis in a deal that threatens thousands of jobs and marks a complete break-up of Sir Philip Green’s Arcadia Group

Subscription only

https://www.thetimes.co.uk/article/boohoo-in-for-arcadias-last-brands-xprw9dz8k

“The British fashion e-commerce darling has entered exclusive talks with the administrators of defunct Arcadia Group to acquire Dorothy Perkins, Wallis and Burton brands.”

Today is a major mile marker in Boo’s return to favour.

https://www.google.co.uk/amp/s/fashionunited.uk/news/business/boohoo-to-add-more-than-500-million-pounds-in-annual-sales-if-arcadia-s-deal-crystallised/2021012953271/amp

FOR IMMEDIATE RELEASE 29 January 2021

boohoo group plc

COMMENT RE: MEDIA SPECULATION

boohoo group plc (the "Group"), a leading online fashion group, notes recent media commentary. The Group confirms that it is in exclusive discussions with the Administrators of Arcadia over the acquisition of the Dorothy Perkins, Wallis and Burton (excluding HIIT) brands. These discussions may or may not result in agreement of a transaction. A further announcement will be made when appropriate.

-ends-

Shares on the major European stock market indexes traded well below the flatline in the premarket on Friday after a tumultuous session on the US markets the day prior. The investors will pay close attention to further developments in the case of trading app Robinhood in its stand-off with groups of retail investors frustrated over the fact that the company restricted purchases of certain stocks.

On the data front, the traders await reports on Germany's gross domestic product (GDP), as well as the country's unemployment rate.

The DAX plunged 1.59% or 209 points at 7:29 am CET< while the FTSE 100 dived 1.30% a minute later. Meanwhile, in Paris, the CAC 40 tumbled 1.30 at 7:20 am CET. The euro decreased by 0.18% versus the dollar, selling for 1.21035 at 7:32 am CET, while the pound went down 0.17% compared to the greenback, to go for 1.37089 at the same time.

Breaking the News / BU

Happy Friday y’al

Shares on the major European stock market indexes traded well below the flatline in the premarket on Friday after a tumultuous session on the US markets the day prior. The investors will pay close attention to further developments in the case of trading app Robinhood in its stand-off with groups of retail investors frustrated over the fact that the company restricted purchases of certain stocks.

On the data front, the traders await reports on Germany's gross domestic product (GDP), as well as the country's unemployment rate.

The DAX plunged 1.59% or 209 points at 7:29 am CET< while the FTSE 100 dived 1.30% a minute later. Meanwhile, in Paris, the CAC 40 tumbled 1.30 at 7:20 am CET. The euro decreased by 0.18% versus the dollar, selling for 1.21035 at 7:32 am CET, while the pound went down 0.17% compared to the greenback, to go for 1.37089 at the same time.

Breaking the News / BU

Happy Friday y’al

Boohoo has taken poll position to buy three Arcadia brands in a move that would mark the final break-up of Sir Philip Green’s empire, which collapsed in December.

https://www.dailymail.co.uk/money/markets/article-9199205/Boohoo-favourite-Arcadia-brands-Burton-Dorothy-Perkins-Wallis.html?ns_mchannel=rss&ns_campaign=1490&ito=1490

Shares on the major European stock market indexes traded lower in the premarket on Thursday as traders were monitoring recent happenings regarding the coronavirus vaccine delivery. European Commissioner Stella Kyriakides stated earlier the European Union would defend the "integrity of investments" made in the COVID-19 vaccine development, while the UN Secretary-General Antonio Guterres expressed hope the World Health Organization (WHO) will approve the Russian Sputnik V coronavirus vaccine.

The DAX slid 0.69% at 7:30 am CET, while the FTSE 100 concurrently decreased by 1.01%.

The pound stood flat versus the dollar, selling for 1.36752 at 7:28 am CET, while the euro fell by 0.07% against the greenback, to go for 1.20968 at the same time.

Breaking the News / TF

Shares on the major European stock market indexes traded lower in the premarket on Thursday as traders were monitoring recent happenings regarding the coronavirus vaccine delivery. European Commissioner Stella Kyriakides stated earlier the European Union would defend the "integrity of investments" made in the COVID-19 vaccine development, while the UN Secretary-General Antonio Guterres expressed hope the World Health Organization (WHO) will approve the Russian Sputnik V coronavirus vaccine.

The DAX slid 0.69% at 7:30 am CET, while the FTSE 100 concurrently decreased by 1.01%.

The pound stood flat versus the dollar, selling for 1.36752 at 7:28 am CET, while the euro fell by 0.07% against the greenback, to go for 1.20968 at the same time.

Breaking the News / TF

The fool article poses the question could Boohoo mirror Amazon in 1997...

Extract from a google on Amazon 1997
A double would please me.

“Amazon.com Inc. held its initial public offering (IPO) on the Nasdaq on May 15, 1997, at a price of $18 per share. 1?? Notably, $10,000 invested on that day and price would be worth more than $12 million as of May 2020.”

BARCLAYS RAISES BOOHOO PRICE TARGET TO 510 (425) PENCE - 'OVERWEIGHT'

Equities in Europe trader lower in the premarket on Wednesday after the number of deaths caused by COVID-19 saw significant increases in several countries. Fatalities registered in Spain stood at their highest rate since April. In the United Kingdom, they climbed to an almost all-time high. Meanwhile, in Portugal, the death toll rose by a record 291.

The DAX traded 0.09% lower at 7:26 am CET. At the same time, the FTSE 100 went down by 0.29%. Meanwhile, the CAC 40 stood flat.

Both the euro and the pound sterling stood flat against the dollar, selling for $1.21623 and $1.37400, respectively, at 7:29 am CET.

Breaking the News / JR

Happy hump y’al

Equities in Europe trader lower in the premarket on Wednesday after the number of deaths caused by COVID-19 saw significant increases in several countries. Fatalities registered in Spain stood at their highest rate since April. In the United Kingdom, they climbed to an almost all-time high. Meanwhile, in Portugal, the death toll rose by a record 291.

The DAX traded 0.09% lower at 7:26 am CET. At the same time, the FTSE 100 went down by 0.29%. Meanwhile, the CAC 40 stood flat.

Both the euro and the pound sterling stood flat against the dollar, selling for $1.21623 and $1.37400, respectively, at 7:29 am CET.

Breaking the News / JR