Member Info for southcoastbather

"No surprise to see Hexam jumping in I guess. Atleast he makes a sensible point about no news for this year, which simply isn't good enough"

We haven't even had complete results for last year and you're saying its not good enough we have had no update for this year - you must be absolutely spitting feathers about the delay in full results for last year....

I think we will get the trading figures, albeit ridiculously late and also a notification of the agm at the last possible moment.

Really not in keeping with a company trying to add value and transparency for all shareholders.

Quite ridiculous that we now need a 100 percent rise just to get back to where Dan "took over".

Unless it just goes bang.

It really is quite astounding to see what warpaint has achieved in the time as this company...

Imagine if there was no board take over and Bob holt was left to do his thing.... This would have been in the 100s...

Niel catto was brought in to destroy this company by the looks of things...

It's almost too blatant....

Anyone know what our current investment in revb is worth?

I believe it was over 40 million at one point... They said it was a strategic investment... Was the strategy to destroy the business and boohoo shareholders money?

Ha ha so sure you don't want to write it....

Which year was highly profitable for boo again?? Was it 2022?

Do boohoo have the cash?

Or are they taking on more debt?

Reardon - all of these articles are just as pathetic as the credible plan/strategic review

We are 5 months into a trading year with no figures and we still don't know the loss and many other figures for the previous financial year.

Everyone should just call a spade a spade and be honest rather than protecting these fools out of blind desperation.

Which figure is frasers paying tax on?

It could be because the cfo didn't allocate capex according to the bfd rule...

Its pure stupidity to blame in on the cost of your stock increasing dramatically!!

Couple that with not increasing retail prices along with the sector peers...

2021 Still exploiting....

https://www.theguardian.com/business/2021/jun/18/boohoo-accused-of-failing-to-improve-working-conditions-in-its-supply-chain

2022 still exploiting...

In November 2022, Boohoo faced renewed scrutiny and criticism following reports of continued poor working conditions and low pay at some of its Leicester-based suppliers, despite previous promises of an ethical overhaul. This followed earlier exposés in 2020 by The Sunday Times and subsequent investigations by the BBC.

All kind of matches up huh??

The problem is that boohoo were still exploiting workers in 2022.... It took them a good 2 years to move manufacturing.... And now we have the result... A loss making business that once had profitable years based on exploitation

I challenged them last year to their faces.

"Ok so what you are saying is that Leicester hasn't affected profitability"

That's what he is saying but he hasn't proved it. Just looked at the UK only Gross Margin (excluding Debs MP) and that also shows a decline over the last few years. That suggests there may well have been an impact and certainly shows that Bfd hasn't proved that there hasn't been one."

He didn't even realise the extent that boohoo were exploiting Leicester - even though it's been publicly exposed.

He's just that arrogant he thinks he can dismiss something and everyone believes he is right.

Profitability collapsed very soon after the scandal was exposed.... And has never returned.

So it's likely this business was built on underpaid Leicester staff...

Ok so what you are saying is that Leicester hasn't affected profitability

Boohoo were using suppliers that were paying workers less than half the minimum wage

And then Kamani vowed "to fix the Leicester rag industry"

Which would have entailed doubling the suppliers wage bill

And somehow the suppliers did this without putting the prices up that we pay?

I can't see it if I'm honest.

"As previously mentioned US was always a far higher margin, so given drop off in US percentage of sales, GM has hardly changed."

Notably you missed off the previous year showing a 57 percent margin - which shows a compelling trend....

The Leicester scandal has killed the business.... And thats why the kamanis exited Umars plt position a full 18 months early.... They what was coming.

You may want to go and check the historic gross margin... Because in terms on business 50 percent is not broadly comparable to the historic gross margin of over 54 and as high as 57.

Unbelievable the lengths you will go to try and hide the truth.

"Actually southcoast, gross margin is back over 50%, which is broadly comparable with historic levels, given the drop off in business from the US which always had a higher margin"

Ahhh I'll await the historic profit to come back in the long awaited results then yeh? Because you know that's the margin I'm talking about surely.

"Have you checked Frasers PBT figure yet?"

As I said - over half a billion in profit before tax with no further adjustments.

Unlike when this bunch of clowns tried to fool the market with an adjusted profit and hid the measly 8 odd million pbt figure on like page 10 of the accounts (although they would be salivating at the thought of 8 million pbt right now)...

It's ok though you can keep arguing to try and delude yourself away from the new "Dans range" share price... The new range is in and awaiting results.

"What proportion of supply actually came from Leicester southcoast, before my time but I'd guess it was a relatively small proportion."

How about over 80 percent - is that small enough for you? (before your time 😂😂)

"And, as others have pointed out, Boo didn't run the factories, they weren't Boo employees and nobody in Boo did anything illegal"

Again you're deflecting - irrelevant who owned the factories, the fact is boohoo benefitted from under paid workers to build a business.

Funny how the margin collapsed immediately after the scandal huh.... And has never recovered since boohoo moved a lot of its manufacturing.

Ocean - yes but paying regardless of who owned the suppliers, they would have been a able to provide boohoo with garments cheaper than other suppliers....

Although the investigation at the time did highlight that Mahmud owned many of the suppliers through a complex web of directorships.