Member Info for southcoastbather

The more you look the more you laugh... Its one big get the kamanis and their friends rich scheme... The way they talk about independence is hilarious...

"· Set up an independent board committee comprising members of the Group's Executive (Neil Catto and John Lyttle) and Non-Executive Directors (Brian Small, Iain McDonald and Pierre Cuilleret) to negotiate and manage the transaction;

· Engaged with KPMG to appraise the transaction structure and valuation; and

· The independent Board committee has sought advice from Zeus Capital in its capacity as NOMAD to satisfy itself that the transaction has been conducted at arm's length and is in the best interests for boohoo group plc shareholders.*

Yes fed - zeus have been "looking after" shareholder interests from day one...

Imagine if Mike and frasers weren't around?!

Zeus should have stood down immediately after the bonus fiasco.

Everyone is on the take apart from us shareholders.

Zeus capital and every member of the remuneration committee should have been fired with immediate effect on the release of this rns

https://www.lse.co.uk/rns/BOO/withdrawal-of-resolution-surrender-of-options-5q158z2d8vopayk.html

Withdrawal of AGM Resolution, Surrender of Options and Directors' Dealings

boohoo group plc (AIM: BOO) announces that it has decided to withdraw Resolution 3 from the agenda of the Annual General Meeting (AGM) of the Company's shareholders to be held at 10.00am on Thursday, 20 June 2024.

Https://www.lse.co.uk/rns/BOO/posting-of-annual-report-and-notice-of-agm-btfudnviuqicbtj.html

Remember when they dropped that beauty on shareholders??

A massive new incentive plan with no disclosure via rns - the details were kept in the Manchester office and shareholders had to travel to Manchester to view them!

Zeus capital oversaw this whole bonus fiasco and stated -

The Directors (excluding John Lyttle, Mahmud Kamani, Carol Kane and Stephen Morana) (the "Independent Directors") consider, having consulted with the Company's Nominated Adviser, Zeus Capital Limited ("Zeus"), that the terms of the Related Party Awards are fair and reasonable insofar as Shareholders are concerned.

Absolutely disgusting test to see how far they could push their luck.

And now all of a sudden when they realise there are higher powers at work (Mike Ashley and frasers) we have letters landing on our doorstep! I've had 10 letters in total.... How many million have they wasted on this??

What do shareholders do?? PLEASE SIR CAN I HAVE MOREEEEE

https://youtube.com/shorts/T-Gf8a2jSuI?si=xAZXIEAxc0S6ARQB

All praise be for Mike Cashley.

I don't believe shein will ever ipo in the uk, tbh its not even important - what is important is this mess of a company is sorted out asap.

How many more years can we lose 100 million per year of our cash? We had 130 million left in the tank as of 5 months ago.

"Loss per share

Loss per share for the first half of the year increased by 328% from (2.70)p to (11.56)p. Adjusted loss per share was (1.96)p, a 115% increase on the first half of the prior year (2023: loss per share 0.91p)."

Even on an adjusted basis h1 this year double the loss of the same period last year - seems some contrast to the recent fantasy presentation by Dan Finley.

Mind boggling.

Time to stop looking now as it just gets worse.

H1 this year

Cash at start of the period 230 million

Cash at end of period 131.9 million

It's painful reading the financials.

Usa distribution total loss 100 million.

Here's an absolute corker!!

We paid 2.3 million quid in advisor fee's for the new debt facilities 😂😂

Two point three million quid.

The problem is we can see they have double the staff they need.

How many times do you see a company go into administration with a massive headline of the staff cull that is about to happen when the failed business is bought...

This business cannot work and survive with the current staff numbers, its impossible. 80 million quid in excess staff is absolutely mental.

The way I see it is - we dump half the staff now and the business becomes viable and we dont lose our investment

OR

They dump half the staff after the company has failed and we have lost our investment.

Either way half the staff need to go, and I know what order I prefer!!

You're posting so much garbage to so many different people trying to defend this dog, you can't even remember your own posts!

Here is what happened -

I compared boohoo to boohoo.

You compared boohoo to tesco.

I then compared boohoo to boohoo again, I also threw in a reference with asos which is literally our nearest business model.

You then accuse me of using a spurious comparison in asos after yourself using tesco as a comparison.

Im gald you highlight the gmv model having a lighter staff model though as this further cements the problem here, we are switching heavily to a market place model with state of the art automation yet we are still carrying all these excess staff....

Its as though you have no awareness of how bad the management here are - you are literally as blind as the board of directors here. If you really want to see what im saying then pop along to the next agm... Although something tells me you were probably at the last one.... You are either staff here or you have invested your whole life savings in this because the delusions are crazy.

The beauty here is we dont need to compare other companies - we can compare year to year in the same company as the current revenue for this year is going to be the same revenue we had 4 years ago.

2020 1.2 billion revenue = Staff 2600 = Staff cost 80 odd million = approx £450k revenue per staff member.

2024 1.2 billion revenue = 5000 plus staff = 160 plus million cost =approx £240k revenue per staff member.

And top that off with 2024 being far more automated than 2020.

You could argue the toss with part time and full time staff making a difference but not in this case as the staff cost is DOUBLE in 2024 as what it was in 2020.

Fyi Asos has a tad over 3000 staff for 2.9 billion revenue = £900k per staff member. So the Internet guru was bang on the money with £1 million per staff member in reality. Your 100k per staff member is just fantasy and has no relevance in the online rag trade.

You need a serious reality check - things are not getting better here, they are getting worse by the day, every day this company trades it loses more money, more money that we don't have, that means we go into debt a bit more every single day inc Saturday and Sunday.

It might have looked a lot nicer if we hadn't wasted hundreds of millions on offices, distribution centers and failing brands..... We've probably wasted 10 million on bonuses in the last 3 years...

Enjoy your weekend....

I pointed this out weeks ago - it's nothing to do with a guru.

They have over 2000 extra staff, the company is knackered, i don't really know how else to explain it.

They are not making a profit ever again as long as the kamanis are in control.

Roll on the next trading update when they unload the manure.... The fact they are hiding results is making me consider the fact that revenue has declined further than h1 15 percent we saw.

"southcoastbather

Posted in: BOO

Posts: 6,850

Price: 38.52

No Opinion

RE: Telegraph article15 Dec 2024 09:23

If you look at the numbers and take into account the acquisitions of failed brands, the numbers have gone back to 2019 levels except one major difference - 2019 the company was PROFITABLE.

Yes debenhams may be just about turning a profit but at what detriment to the rest of the business - the company paid 50 million quid for debenhams but how much have they spent on top of that? They have near on destroyed the whole company and its value to turn debenhams into a 5 million profit over 4 years.

Ask yourself where the company would be if the ego driven management team didn't try to take on the world based on a false sense of security driven by pandemic sales....

My guess is we would probably be profitable still and have 300 million in cash with a share price in the 200s...

Everything was doing perfect until they went on an acquisition spree.

2020 1.2 billion revenue

Staff 2600

Staff cost 80 odd million

2024

5000 plus staff

160 plus million cost

The excess staff alone are costing the company over 80 million quid....

Ludicrous!!"

Boohoo have have 2400 excess staff and that is costing 80 million quid.

What the hell happened to state of the art facilities having a x9 pick rate vs humans.

The management are all running around blindfold throwing million quid bundles of cash into a furnace right now.

Why on earth would anyone compare a hybrid business model with a pure online.

More to the point lets compare boohoo with boohoo.

2020 1.2 billion revenue

Staff 2600

Staff cost 80 odd million

2024

1.2 billion revenue

5000 plus staff

160 plus million cost

The excess staff alone are costing the company over 80 million quid....

Ludicrous!!

Nobody at the company can't bare to admit the numbers!!

Meanwhile I've got another load of junk mail on my door matt from the company.

You have to be a fool to vote for the current board.

For everyone that can open their eyes....bfd take note especially.

https://x.com/drewfallon12/status/1876674392341598458

Last comment on the whole thread

3000 TO MANY STAFF - they think they're the nhs or something.

Marc Roca

@MrMarcRoca

·

Jan 9

3000 too many employees, revenue per employee should be 1 million

Allegedly there was a false drop 2 days ago for frasers to buy - then up pops a tiny buy from Carol so it must have been a false drop for carol.

In fact over the last 2 months its been posted several times there is a false drop for frasers to buy yet there has not a been a matching rns to confirm any buy from frasers.

Might be time to wake up and realise nobody wants this junk right now - there's no manipulation end of story. It's just junk that people won't buy.

in the 9 months since the agm this stock has gone nowhere and won't go nowhere until things improve.

At the agm management likened turning this company around to turning the QE2 - you can't turn the QE2 round on a penny or some silly quote like that.... Problem here is its 3 years down the line and the captain hasn't took off his blindfold and touched the steering wheel...

"MrProfit

Posts: 378

Price: 31.58

No Opinion

FrasersToday 12:25

Easy to short companies indirectly and then buy them cheaply, if you have access to lots of other people’s money."

Funny you say that, after watching the boohoo share price fall in advance of every bit of bad news its quite obvious a lot of people in the know were making money shorting this company.... The people in the know certainly weren't Frasers....

You all want to be thankful that Mike is here or this would have been in the hands of the Kamanis very soon.

For all the noise in the last 4 months...

Debt paid off

Cash raised

Property sold

Debenhams "profit"

Chance of a proper ftse ceo

Chance of board changes

Here we are at 30p

Guess the market are seeing through all the pumped up pre returns gmv and looking to the real figures ie losses of 150 plus million last year and h1 losses this year bigger than last year h1.

But but but but Dan went on record and said debs is worth more than 500 million 😂😂