RE: Citiwire2 Oct 2023 07:54
Good overview....
"Peel Hunt: Boohoo setting up for 2024 recovery
Peel Hunt believes online fast fashion retailer Boohoo (BOO) is setting up for a recovery in 2024.
Analyst John Stevenson retained his ‘buy’ recommendation and target price of 75p on the stock, which was trading at 32p.
First half results from the group brought no surprises, with double-digit sales declines mitigated by cost and margin recovery. It also passed a key hurdle in the opening of a warehouse in the US.
‘We expect sales momentum to improve into the second half, creating a platform to build margin recovery into 2024,’ said Stevenson.
‘Boohoo is ticking off the milestones, successfully launching the US warehouse, recovering cost and margin tailwinds, building out the new portfolio of brands and the Debenhams platform, and setting up the business for a wider recovery into 2024."