Member Info for southcoastbather

"Outlook and Guidance

The Group's focus for the year ahead is on rebuilding profitability and getting back to growth. For the year ending 28 February 2024 ("FY24"), revenues are expected to be between flat and a decline of 5% vs. the prior year, with increased emphasis on driving profitable sales. In the first half, revenues are expected to decline by 10% to 15% as a result of this action being taken. In the second half of the year, the Group expects to return to revenue growth as it benefits from the investments being made across price, product and proposition under the Back to growth strategy."

Taken from May 2023 rns for year ending feb 23

Revenue fell a full 15 percent the following year and continued the same rate of decline into h1 of this year

They really are lost with no idea how to stop the rot.

"Net debt increased to £143.1 million (Feb-24: £95 million net debt), with total liquidity of £131.9 million. On 18 October 2024 the group successfully signed a new £222m debt financing agreement."

H1 this year liquidity position

What will it come the end of feb? 80 million?

Perhaps more importantly what will it be at the point we get the full year results in May/June

It comes a day after the company released delayed results showing half-year losses had more than quadrupled - with pre-tax losses swelling to £147.3million in the six months to August 31.

"5. Potentially sell off unproductive assets"

Now this tickled me.... Thats everything except debenhams....

And who the hell wants to buy unproductive junk?!

Here sir we "are the best in the business" and couldn't make it work now give us 10 billion ughandan dollarzzzzzz pleazeeee

It would do the management team good if they were to go and read the last 3 years results and finish on h1 of this financial year.

The bullshlt they are spouting has no correlation to the real world figures, they are truly deluded.

Nobody here has faith in their ability to turn this around, if it does turn around it will be pire luck!

Absolutely everyone here just wants out of this life wasting junk, anyone that says they are happy is a liar.

They (management) can't admit how bad things have got, therefore they cant fix it.

This is a cash burning machine with not much cash left.

Until Dan owns up and says how the company have knackered this up he deserves zero respect.

"The sp has traded in range for the last six months atleast."

Finally admits its nothing to do with market makers.

And the plan is so clear that nobody here knows what it is.

I was browsing the accounts the other night and noticed the mention of 3 new distribution centres, can't remember exactly which but think it was 2022...

Were they classing that derelict building as part of this or was that in addition I wonder?

Talk about writing cheques your business can't cash....

I think mahmud must have a contract with an ink supplier they amount of cheques he was signing...

Funny that... The London property was sold... Then unsold.... Then sold again with a 10 million discount.

"Always good to look forward to a little more cash"

Evidence please?

I've seen no rns so it's not true.

Jeez.... Being a Kamani apologist will take over your life you know....

Scandal after scandal yet here you are on 30p average defending the indefensible...

My bet is you have been around a long time and have lost your shirt.

It's some really weird behaviour that's for sure.

In other words, we cant give him a legitimate executive role as we would then need to disclose his pay.....

"Kamani said his return “marks the beginning of a new chapter for the fashion giant” as he looks to “put customers at the forefront” of every business decision. He doesn’t have a specific job title but will be in charge of all operations"

It probably is about time they addressed his role and paypacket tbh.... Certainly doesn't look like he is ceo, more an adviser capacity.... Makes sense with frasers allegations...

"Kamani, who founded and exited PrettyLittleThing (PLT), is returning to lead the business. His first announcement is that he’s making a U-turn on the decision to withdraw free returns from its customer offering. It is understood that Tom Binns, chief operating officer, and Nicky Capstick, chief marketing officer, who have shared the CEO responsibility, will continue in their roles at PLT under Kamani’s leadership."

Absolute gold😂😂😂😂

If you click the lse in my previous post bf you will see it was discussed at length with many opinions.... Seems to contradict your earlier rant today.

"Bfdinvestor

Posts: 4,553

Price: 29.72

No Opinion

RE: ANYONE SEEN THE INSTAGRAM POST FROM UMAR?!10 Sep 2024 13:19

And on the subject of cr@ppy Comms that is something else they should have RNS'd"

Exactly Ocean - despite all the noise and bravado from the board and staff, the only thing that has improved is debenhams, everything else has made further back steps.

If you look at the video of dan on linkdin bigging up the group gmv, check out the comments from staff - all they talk about is debenhams... Its absolutely mental.

Southcoastbather

Posted in: BOO

Posts: 7,027

Price: 29.64

No Opinion

RE: ANYONE SEEN THE INSTAGRAM POST FROM UMAR?!10 Sep 2024 10:10

Hold the phone - Umar is back to plt?

https://www.lse.co.uk/ShareChat.html?ShareTicker=BOO&share=Boohoo&thread=EB3189BB-895D-47C2-A3C8-A2111F401A1C

As you can see, it was discussed at great length..... selective memory again huh.

Here is a list of so say positive things for the company...

John Lyttle leaves

Strategic review announced

Dan takes up the role

Credible plan announced to add value

Sold London office to pay debt

Raised 40 million to pay debt

Big media video presentation by Dan

Shareholders block mike

Shareholders re elect Mahmud

Dan buys few 100k shares

Carol buys few 100k shares

Carol buys few 100k shares

With all that in mind why is the sp still languishing?....

As soon as Umar rejoined I and many others emailed the company asking what his role was.... The company have ignored all these requests to my knowledge.

Bfd is happy to say he is ceo with no evidence however also happy to disbelief his 200k a month remuneration due to no official statement from the company.

My belief is Umar is working as an "advisor" and his fees are paid to dubai - if it was untrue the company would have replied to allegations In the press with their right of reply.... Boohoo chose to say nothing.

Boohoo refutes and denies a lot of things in the press. In fact they have a long history of denying and rejecting things.... Except Umars pay packet....

Boohoo has denied claims of poor management, financial mismanagement, and ignoring proposals from Frasers Group. Boohoo has also rejected criticism of its debt refinancing strategy.

Poor management

Boohoo has denied claims of poor financial strategies and stagnation.

Boohoo has also denied claims that it delayed or ignored proposals from Frasers Group for board representation.

Debt refinancing strategy

Boohoo has rejected criticism of its debt refinancing strategy, calling it "inaccurate and unfair".

Boohoo has argued that the deal would provide certainty around its future.

Frasers Group's proposals

Boohoo has rejected Frasers Group's proposal to install Mike Ashley as chief executive.

Boohoo has described Frasers Group's criticisms as "inaccurate and unfair".

Oh I'd bet a very big bet that's true regarding the 200k per month.

Umar isn't here as a listed ceo or an employee... That you can bet....despite your delusions of what he posts on Instagram je is not the listed ceo of plt.

Worth noting his post on insta was one that nobody could comment on and its now gone - I wonder why.

Still no rns to deny it either.... I wonder why.

Cooler the problem with this company is its never ending with issues for shareholders to talk about... Never ending list.

"As for Umars pay if the remember correctly was that he will get £50k as base and the rest would be performance linked, so if the leak is correct this would be imply PLT is doing really well, and taking in to account his message also suggests to that effect."

With regards to Umar, I don't think there are any details anywhere.

Regardless I don't think any board member should be taking any bonuses until there is a clear path to profitability on the current cash with no need to dilute shareholders.

If Umar has managed to come back and deliver the mother of all turn arounds in 4 months then there are serious questions to be answered by the board on what has actually been going on for the last 3 years

Were the board purposefully driving this to insolvency and then Mike has knackered up their plan when he started investing??