Member Info for Ste2000

UNBELIEVABLE - they are dilluting us further again with more shares issues
F**kers
I hate this company

does any one have any idea how we can down more than boo (who issue a profit warning) or asos (who are in the exact same industry as boo)

it is f ing mental

i know hinsight isnt fair, but imagine if they had paid of the debt instead of buying cult - things would be looking a bit more rosy
i think its clear moulding has to do soemthing here now, as they cant just ignore this.

the company value is now worth less than their debt - things become dangerous when you enter this kind of arena

i think we can all agree they paid very frothy valuations ie. Cult beauty for 275m you get 10m ebitda
i mean come on....

thg have to cut back everything non essential, preserve cash, sell all non core freehold/ leasehold, cut all non core staff.
get ingenuity working with new client wins

there business model is a disaster in this macro climate

who knows - maybe some more bad news is about to land
to drop almost 600p in 12 months is mad
if they are truthful in they reporting, its not justified

MM and the board screwed all holders over when they didnt allow due diligence on the offers
ti be down more than boohoo who have a profit warning tody, is unthinkable

Hi Oke - thanks for the post. a lot of what you say is right. but, like moist things thg or moulding, it doesnt stack up when you really analyse it.
for example, kings st made the offer with belerion, who is run by iain mcdonald, a director of THG and appartenyl friend of MM. surely he would know a debt based offer would not work, so why bother

then, there is no way jupiter or rowe price said no to 170p, when they are selling or did sell for lower.
softabnk dont want to further the investment, so maybe they did say no, but who knows as they have liquidated almost all of Northstar now, so would have thought 170p was appealing

and rumour was MM wanted 2 quid...so why not just offer due diligence to see if someone could match this with less debt

now, 2 more profit warnings, a revenue cut, and no guidance on ingenuity (which looks like a lame duck tbh), we sit at 39p

rejecting a bid of 170+...what were they thinking/ smoking/drinking

we are currently anchored at x0.2 sales and just under for 2023 (x0.18)
this is clearly very low but it is what the market values these ecom players (ao/boo/asos/thg etc) at
to rerate to say 60p, we need either THG to over deliver their numbers (unlikely as they constantly under deliver/ over promise)
or we need the market to move to more fair values (min x0.5-0.7X sales)- unlikely in this macro

so 40p seems where we are. any TO/ bid news would move us fast but again given JUP couldnt find a II buyer for its holding, and given no II investment for a long time- this seems very remote

not acepting 170p was corporate suicide (at least in the short to mid term ie 6-18 month horizon)

i think to be fair, you can say boo is 99% clothes and maybe beauty (with a little bit of crap from debenhams buy out )
they dont own hotels or spas i m guessing :)

i do hope lord allen is working some magic, and was so pleased to see freehold properties being sold (i hope we then dont rent them back). the day they dispose of mouldings pet hotel and spa projcts (I guess after shareholders have fully paid the refurb for his freehold), the better

this is an ecom business - it has no business owing hotels

Agreed boo is a total dog, but at least its easy to understand...total fast fashion under many different labels and brands
thg is a nutrition company, a beauty company, a logistic provider (ingenuity), a hotel operator...its an utter mess. somehow they have to sell off all the parts but how? all staff work in same head office, use samw warehouse etc etc

i am in agreement with you on Nutrition and beauty onsolidground (not ingenuity as its very small/ losses a lot of money and capex greedy)

but how can THG sell beauty or ingenuity as it has to use ingenuity, for example it uses a shared warehouse (icon) in Manchester so if beauty is sold, would the buyer be forced to use all of ingenuity supply chain etc

none of it makes sense to me when seperated how some PE could buy in - its a bit of a mess of companies tbh, and the hotels and spas are farcical in the extreme

my guess is we are seeing the increased shorts at work today - another day of BS
dont see anyone taking over this hut for a while, esp as no II are even taking a speculative position - surely they would if PE could take hut over??

yeah i noticed a few days back- its not ideal as it means we lost that buying support, which I believe was the only index that bought THG due to the stupid decision not to have a premium listing yet

still cant believe no II buys or director buys at 40p!!

problem is thg shares are the opposite of inflation - each day, instead of costing more, they cost less
the hope know is that, as no one in their right mind considers them anything to do with tech, they can behave and become a standard retailer, start to deliver consistent top and bottom line growth, and deliver free cash flow and better ebitda and re rate based on this
what a horrid 12 months+/ what a horrid company/ what a horrid share

I kinda wish I had never heard of this company

bit dramatic, but it is odd that not one II or fund thinks this is worth a punt at 70p/60p/50p/40p....
even boohoo got some investment and its the most shorted share in UK
PI must actually have quite a large holding now with Jupiter selling down into the market

if the market is only willing to value the old hut at x0.2 earnings, we will never leave the 39-50p ish band unless material news/ improvement comes

q3 is clearly going to be a horror story given the profit and revenue warning they gave with only 2 weeks of Q3 remaining

wouldnt be surprised (alrthough will be annoyed) to see shorts loading up again this week

and sold into again...yawn

todays less than 1p rise already being sold into hard by Jupiter/ algos/ shorts/ market etc etc etc