Member Info for southcoastbather

Interestingly the company don't seem to be sticking to their promise of better communication with shareholders

I emailed them asking if they could confirm the date of the rns and the reason given within the rns for the purchase of a condemned building

I also asked if they thought it prudent for management to pay back all of their bonuses taken since 2020 due to the absolute catastrophic failure of the company finances, including John Lyttle due to him still being tied to his fiduciary duties even though he has exited the business.

No response as of yet though...

Wonder if it was pumped up for boohoo to sell out in recent weeks??? ... Unless of course it's only mike that can control the market... ☺️😂

Boohoo still had revb listed as being worth 29.7 million in the last set of accounts....

22 rns's since the later than usual h1 results....

Not one word on current trading or any guidance in any way shape or form....

Apart from some silly video of an uncomfortable Dan finley talking about pre returns gmv.... Interesting they wouldn't put them figures in an official rns hey?!

Its something the company have never mentioned for obvious reasons...

They wouldn't want to appear that debenhams is being fluffed up by taking a cut of all the other brands and lebels...

"What is the change they offer, you never seem to explain it?"

INDEPENDENCE INDEPENDENCE INDEPENDENCE INDEPENDENCE INDEPENDENCE INDEPENDENCE INDEPENDENCE INDEPENDENCE INDEPENDENCE

How many times do I need to say this before you read it and actually compute what you are reading.

Independence on the board is what frasers were offering and bringing.

People like you are so blind that you post asking what frasers were offering and then you go and vote based on the current complete and utter failure of a management team that have offered you nothing except 2 words "credible plan".

You are so fooled by the numbers you didn't even realise 100 million of CASH has gone from h1 last year to h1 this year.

Where is this credible plan now?

Where are the trading numbers?

Where is the strategic plan?

Where is the brand sales?

Where is the capital market day?

Where is the 480 million cash gone?

Where has 800 million of revenue been lost?

Where were management taking bonuses for complete and utter failure?

Why have we brought properties and sold at huse losses?

Where did we waste 100 million on a usdc for a segment of the business that had 300 million revenue?

Why were elwe diluted to pay debt that wasn't due?

Why have management not been able to stop the company losing 17 percent revenue per year?

Where is the profit gone?

Why did we buy the remainder of plt early?

The longer idiots defend management here the quicker this company will fold.

Worth remembering that boohoo have literally fed debenhams gmv by listing their own labels and brands on it.

None of our brands or labels could survive on their own including debenhams.

This whole group can't survive in its current form with its current management team.

Why people have voted for no change is mind boggling.

What is the return rate to debs?? 30? 40? 50%?

Edit

For every 1000 quid gmv POST returns we get less than 200 quid revenue.

This whole gmv pre returns is an absolute fugazy.

Last year the group revenue fell 17 percent (off the top of my head) including the so say meteoric rise of debenhams.

The Debenhams gmv market place model simply cannot save a business that has revenue declines of 15 percent.

For every 100 quid gmv POST returns we get less than 200 quid revenue.

Say debenhams gets to 5 billion gmv in the next 5 years - we will only see a billion of that and make a profit of 35 - 40 million.

Every time they spout the qmv pre returns for debenhams you can devide it by 5, and that is not even allowing for the return rate.

Can we stick to sl@gging boohoo off....

There's enough faults to keep us going all day every day...

Reardon - the results are a disgrace!!

100 cash million gone from h1 last year to h1 this year - if the same were to happen next h1 we will be left with 30 million pound.

The management team are completely deluded and dan isn't up to the task and also doesn't have time, this ship will sink under his name - Mahmud doesn't give a toss about anyone except his family.

Debenhams could 10 fold tomorrow and it still wouldn't save us.

26 rns's In the last 2 months

10 times mentioned the "credible plan"

Not one time have they confirmed any kind of trading or guidance.

Im already gearing up for the upcoming excuses for poor results....

"the new ceo needs time" etc etc blah blah....

There is no margin for error here - if revenue doesn't at least get level in the next 12 months the whole group will fold.

This is singlehandedly the worst managed company on the uk market.

Can you believe only 7 months ago management wanted bonuses for this absolute farce - makes my blood boil!

Sounds like things are improving here in the back ground - the current range this has been stuck in for 2 years could soon move to a higher range.

"ASOS re-iterates all other FY25 and medium-term guidance."

In today's rns over at asos.... Things must be going good over there!! They have already confirmed record conversion rates for the nov and December trading period as well....

Meanwhile our clowns sit in silence expecting you to vote for them while hiding trading numbers. ....

The thing with the 100 million loss of the usdc is it doesn't show the true figure of what they have wasted on the US market.

They crippled they uk margin by paying 10 fold shipping costs trying to service the US market.

I said way back then at the time that they should have ceased trading the US market until it was financially feasible again. The business would be in a much better position now that's for sure.

Working for free😂😂⚒️⚒️....

After wasting over 600 million quid.

It sounds like asos will finish automating their usa site and then sell it...

"Having successfully transformed the US into a profitable market over FY24, ASOS sees further opportunity to re-invest in the areas that matter most to its customers by optimising its global distribution model."

I remember boohoo telling us they were seeing good signs in servicing the usa from the uk hence shutting the usdc, then they went quiet on the matter.

These clowns wasted 100 million quid on a less than 300 million quid revenue per year section of the company.

So glass Lewis are giving us this recommendation without any knowledge of the current trading.

Bare in mind they recommended shareholders should vote carol off for the scandals in 2021 - what has improved since 2021? Nothing. In fact its 10 times worse now.

"Glass Lewis recognise that the Company "has initiated significant actions" in recent months, including undertaking the Business Review, strengthening its balance sheet, and introducing leadership changes, including appointing a new CEO and Independent Chair, while transitioning Mahmud Kamani from Executive Chair to Executive Vice Chair.

Glass Lewis conclude that these changes "should enable the Company to retain Mr Kamani's institutional knowledge and expertise while empowering new leadership to undertake initiatives that will likely be needed to improve the Company's performance".

This last paragraph regarding the company performance is a complete admission of the failures the board have over seen, as shareholders we should be requesting that all bonuses taken since 2021 be repaid to the company - they were completely undeserved and should be reimbursed wirh immediate effect.