Member Info for southcoastbather

Someone really needs to explain to Dan that being "profitable" on an adjusted ebitda basis is not actually profit....

"All brands are now profitable on an Adjusted EBITDA basis" Is the real situation as per the h1 results......

He has slipped up multiple times now by repeating "We have returned all our brands to profitability ".....

Even in today in that linkdin post he has made the same mistake....

Whats with personal insults again.... Cant counter the facts obviously.

August 2023 youth brands down 10%

August 2024 youth brands down 15.9%

August 2025 youth brands down 41%

And to top that off Karen millen has taken a dive from growth to 31% decline in the first 6 months of the year.

Something has clearly gone majorly wrong with the youth brands, they have been saying that same "chasing profitable sales" for over 3 years now and they haven't made a profit or anywhere near. (even with a 35 million free boost in this h1)

Anyone have a feeling that plt will end up back in kamani ownership?? Hide it from the market and shareholders, then let it die, then buy it for pennies while shareholders cheer about debenhams....

I wonder if all the brands will end up in kamani hands within a new years.

Ah, few documents have appeared on companies house

Https://s3.eu-west-2.amazonaws.com/document-api-images-live.ch.gov.uk/docs/x-Hkb0S1-pkLyMr4tCcpwG9GBMfMEEraUj7t_-vJCNQ/application-pdf?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=ASIAWRGBDBV3FG7UGELR%2F20251130%2Feu-west-2%2Fs3%2Faws4_request&X-Amz-Date=20251130T192226Z&X-Amz-Expires=60&X-Amz-Security-Token=IQoJb3JpZ2luX2VjECMaCWV1LXdlc3QtMiJIMEYCIQDOk5F2ncuvv5itcf1FPbbSC88QD7LwDUKzU9mWpqknrgIhAIS%2B7IMiff0FgYvp1KUbFZARERYDbjfzz5OY1TJjLsYzKooECOz%2F%2F%2F%2F%2F%2F%2F%2F%2F%2FwEQBRoMNDQ5MjI5MDMyODIyIgwcduiy%2FElZTNaYcT4q3gOLfzVXieZ6VMkLwGLvRgppo6JutLz4ZVtSbD2GQ69gln2szOm9zWuM0CO%2BcRD0gw8tCvEhle6YT3oU6YxLkwA1TttBKdiUFrYf5ikyoSZt9z6kb4tHAI3BNwZSeTPqudip6KXrxbX%2BKS0bt1kGjqUkCqfwil%2FrohfTB8OtwodmVu3PtgoU5kB5urDZPEFEMlsxvSkfIbEm2Z60WnyjSc7LhrvcY7642WoJ2VCWlrcBxW8m9%2FYHqSXRREs2%2BGRWTS8SjaDWgi%2BEdEQTHVGDtHpsLKbcDF9y30NHnsPTpuBNBGQItU61%2BnELSOo7IvYahS1mDSCHHoEP%2FWP%2Fe0jc3bAlHy7l3tcQDVhpqdK1u645GVgC%2FlMR8gKc%2BSq9orIHhy%2Fmzt%2FEG7sUGneJNtTi62PnTfNQ%2FkZGx3OcMa10rz%2ByfP0s4jP%2BxQ8XPLYnk66LEo74PeWd37SvHSaLT4SEItj0DeulndTwJnyeNzJfMXgZj411lAJSHPs49vBcZ5nyMPwm7L3S26jMmLd9Xnj9JG4mydMHdtI09GP5TBSqIQIq4fpBsTgLpeJ136ZBn7z9242vCIQHnMyJlA24zC7Se9qOMGKM6R%2Fb9nI8IagUeXrmcwOKa1NmM6OBr6h9W82mMPOksskGOqQBfhxDWBct4p33YwHFYHZrRd0FN9pcRoTn12Vp0w66FpeRvwXTLme4LPQQBmsTvgSD%2B%2FoAG1sbqG1xcg7%2FEoa1aquCvhVvr4VoJfJTNsup5Msqiu4JtCC%2F9iiG5Rs74zCHByC26Jg%2FzTrxSDRv5P6tiyT1PYBWIDufTwYEOolukoYPU8eEyEK2Lh%2BXl2NqqCAnYi%2FXbcZ4hF1IYxTasbYijAkZ%2B24%3D&X-Amz-SignedHeaders=host&response-content-disposition=inline%3Bfilename%3D%2207352417_psc05_2025-11-25.pdf%22&X-Amz-Signature=3eee17230f2f6d6c4373579ea06d12ad8fea4389e47c8e5e07ac2372f2890833

Who knows ggg some may have listened at 39p and sold up or even sold up then shorted.... If they did they could have reversed at 10p.

Assignment of Daventry Lease

On 28 March 2025, the Group entered into an agreement to assign the lease of its warehousing facility located in Daventry. The remainder of the lease has been assigned which was due to expire on 29 April 2041 and had a remaining right-of-use (ROU) liability carrying value of £35.4 million. The corresponding ROU asset was impaired in the year ending 28 February 2024 when the site was closed.

The assignment of the lease will result a gain on disposal of approximately £35.4 million, which will be recognised in the consolidated financial statements for the year ending 28 February 2026.

"*This includes an one off lease de-recognition of -£35.4m meaning they paid off a landlord to terminate lease early (one off). Otherwise, FCF positive?"

Without the above they would have made 45 ish million loss rather than fcf positive?

I would more likely say that drop in revenue is completely out of their control tbh, and it has likely taken km from a profitable brand to a loss making one.

Karen millen revenue has dropped a whopping 30 odd percent in the first half of this year - that stands out as something going very wrong

In August when they released the full results for last year they touted km as a good opportunity for growth, at that point in time they were already 6 months into this current financial year so they knew revenue had fallen 30 percent yet they touted it as an area for growth...

How misleading is that?

You might want to check lse rules lad.... One account per person.... Dems da rulz enit

"SauTrade

Posts: 20

Price: 21.65

No Opinion

RE: 20s again for DEBSToday 14:04

I have 2 phones and I am out on a hike with intermittent signal and switching phones. Nothing to hide here, but I admit I did not realise I initially replied to you under a different name."

I can't see how cash flow will improve with youth brands revenue falling at 41 percent...

I said a long while back the revenue decline on youth brands would continue to accelerate and it has, from 21 percent to 41 percent is a major problem

I said group revenue for h1 would be 500 to 550 million but it looks like it was likely less including the missing plt figures...

I said the Debenhams growth would slow and it has from 33 to 20 percent

I was out on the loss figure but they have dressed that up with some inflow from more asset sales.

Gmv for debs.com was 280 million with 10k brands and its now 320 with 20k brands.... What does that tell you?.... 20 percent growth on a doubling of brands does not shout growth... Think about it.

I also said they would have less than 12 months cash left and that is true

People are getting very excited over some not very good numbers tbh...

There's already an article out...

surprised i can show my face?

was it me that -

wiped 5 billion off the company mcap

wasted 500 million of cash

taken on massive credit facilities

drained the business with bonuses

the list of **** ups is endless

it's not me that has caused you all the stress lad, i just pointed out the facts 😉

the fact is this company would have posted a 45 million statutory loss for h1 without the one off cash gain....

what happens when a business that is losing revenue every year at an increasing rate and making losses every year runs out of stuff to sell to pump up the numbers?

"despite all the cost savings and overall they continued to make losses despite a £30m+ one-off positive from de-recognition of leases liabilities"

I've been waiting for someone to mention this... It was mentioned in the full year results as a post close event that would appear in h1 this year...

Not one person here yesterday realised this single one off gain had improved the look on the numbers....

Even mr capex expert missed it.

No it wouldn't be a special resolution, it would be an advisory vote as has been the case will all others schemes and incentive plans - they have stated this every single time shareholders have voted on their ridiculous bonus schemes. It is just good corporate governance to consultant and ask all shareholders to vote.

Regarding Shareholder ownership - go and check the rns history, mk combined with the family trust own approx 25 percent alone.. Then all the others mentioned.

"The Company has conducted a shareholder consultation process with respect to the GTS with a number of the Company's shareholders, representing 36% of the voting rights. This exercise has provided valuable feedback which has been taken on board in finalising the terms of the GTS, which have been approved by the Committee."

There is more to this rns today than meets the eye

Who are the 36 percent of shareholders consulted ? 36 percent is very close to the holdings of Mahmud/Kane/Umar/ebt..... sounds to me like they have just consulted themselves.

Also Frasers don't own enough shares to stop a vote being passed for a new bonus scheme, there would need to be more opposition to get to the 50 percent needed to overthrow the scheme.

No matter what they say, this today does not constitute good corporate governance to just implement a new bonus scheme without a vote.

I suspect that they did consult some shareholders and they didn't get the answer they wanted and knew the opposition including Frasrers would deliver an embarrassing defeat hence this rns today.

"Youth Brands Youth Brands GMV decreased 41% to £258.0m (H125: £434.4m), reflecting the rationalisation of unprofitable lines, unprofitable customers and continued softness in the youth fashion segment. These globally recognised brands have over 46.5m social media followers. The focus remains on sustainable, profitable growth and cash generation, leveraging the Group's proprietary marketplace technology platform."

So youth brands total gmv including market place activity has fallen 41 percent in the last 6 months alone.... considering that the boohoo market place was started in July 24 it doesn't exactly look like the model is working across all brands ?

Anyone see what the actual revenue figure that debenhams contributed to the group revenue in today's update ?

"Have you considered that very little was said about PLT for the simple reason it is under NDA"

No, because the company haven't stated so.

In fact all they have said is it might be sold and nothing more.

I mean I do get the excitement of the rise....

There's a lot of details being missed with all the cheers of debenhams and bonuses though...

Youth brands revenue losses have accelerated to 41 percent this year... Previous years decline was 21 percent and 15 the year before that...

Why are youth brand revenue declines accelerating if they are now doing their own market places which is allegedly the way forward...

Karen millen revenue is down 31 percent - earlier this year portrayed km as a good opportunity for growth so what's happened??

Debenhams.com growth is slowing, last year h1 with 10k brands they achieved 265 million gmv (31% growth) vs 318 this h1 with 20k brands(20% growth)...

Another 14 odd million of cash is gone leaving 30 million - so more cash will be needed within 12 months...

Group revenue loss has accelerated from 15% last h1 to 23% this h1..

Had they included the plt numbers in the revenue then it would have shown a decline from 630 million last year to well under 500 this year - they have only called plt an asset for sale to hide the atrocious figures... All will be revealed on companies house in due course next year...

Today's rise just marks how bad management let this tank while sitting on results that could have been released 2 months ago - Done on purpose maybe??

If debenhams is the bull case then the youth brands must be the bear case.... Youth brands are certainly accelerating their declines faster than debs.com can grow!