Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
All my orders have been seamless from THG. Never experienced an issue apart from last December when the postal strikes were on and Evri collapsed.
Seems a bit of an extreme response to a delayed order, especially given she provided no details of the issue. Wonder whether there’s an agenda there? 🤔
Absolute nonsense that something like this would cost £200k so don’t believe for a minute that is either the cost or the rumour at Thg hq unless they can’t use google.
But I hope the bonus news is true. That would delight me. I am actually certain that everyone at Thg is working super hard and are delivering great results but you simply cannot ignore the wider market or share price erosion. Everywhere I have ever worked has cut bonuses when the SP has dived or the economic environment is tough so would be very pleased to see THG maturing in that sense. Same with further share dilution.
Torn on this as I sort of like that Jamie is applying some public pressure on the board and MM to update formally on strategy and basically improve comms with shareholders/not treat it like a public company.
On the other, it’s been said once and I’m not sure continually repeating the same rants is in genuine long term holders interests for two reasons:
1. You just know that the media will start to pick up on this and publish headlines like “private investors unrest at THG progress”. When we have shorts reducing we don’t need an excuse for a whole barrage of bllx again.
2. It may ultimately deter Matt from giving other updates on LinkedIn which have proven to be pretty informative and explanatory in terms of decision making. I think we need more transparency, not less, so if Matt and LA are not going to give a comprehensive update on Strategy and future for each of the divisions, this kind of update (not this one so much) are important for us to piece things together.
So ultimately, continued ranting is counter intuitive.
Finally, if his 1m holding is true, he’s a man of significant means and I think you therefore have to be somewhat sceptical that all are long.
I didn’t see the other post but would agree that if there’s any suggestion it’s a trolls account then posts should get deleted.
Good stuff.
This is what I’d love to see in the uk. Deals with gyms to sell MP products and activewear. Ideally the large chain’s for rapid expansion, but my gym is an independent and one of 3. Massively suited to such a deal as it actually has a cafe and small retail outlets as part of the complex. But most gyms have a bit too much space and could have concessions in them for a MP Kitchen for example.
But great to see the European roll out continue.
Pmh, where in the accounts does it refer to a “big admin cost”? And what makes you think that a manufacturing business for third parties/THG would be paying anything for Ingenuity? They’re a B2B business and Ingenuity is a D2C platform.
FWIW, the accounts set out quite clearly why profits have fallen - inflationary pressures, supply chain issues due to the war and industry-wide de-stocking - and also make clear that they’re considered temporary.
It actually says that customer volumes in 2023 have strengthened and return to historic Ebitda levels are expected in the medium term.
Not that the results of a business that represents less than 10% of Beauty’s revenues really matters a jot. In any event, we know that Beauty as a whole has returned to growth now.
But let’s not allow the facts to get in the way of pushing an agenda, eh?
*Einstein stated
Stay away from negative people they have a problem for every solution...*
Most on here have sold 2phevs.
Funniest thing I’ve read recently is the “vanity projects” nobody realised were highly profitable, despite the fact a simple google of any of the hotel names would’ve provided pages of MEN articles telling you that for years.
Have been slowly giving up with this board over recent months but that was another reason to avoid it.
🤣😂🤣🤔 This board!!!
I’ve read it all now!
He’s not buying this pmh.
He explained why not all ingenuity deals are announced and I don’t understand why you think he’d announce THG profits from a product line he doesn’t control or own l, not least because it will largely depend how the brand owner decides to market and push said product.
Nothing to be cynical about there.
Too busy to write a long post atm.
But agree with Ste2000 (can’t see 1p’s post he’s referring to) that this is 100% going down a partnership route. Always thought that was most likely given he has ALWAYS justified separation to support “strategic partnerships”. And he immediately turned the question to partnerships when asked on Tuesday.
Only recently has he mentioned separate listings. It may be that he combines the two, but by no means certain. Convinces a big US FMCG to buy a % at a significant premium, list at the same time, then growth driven by the FMCG would justify the premium paid to UK pricing and most likely immediately start to generate profit for the FMCG on their listed holding. THG will remain majority holder.
We can forget MBO’s and the like.
The only question on my mind is whether US PE, in the knowledge that this will be well developed, swoop in first and seek to take the whole and create the value themselves.
Lots of posters who were very vocal this morning seem to have gone very quiet.
Why? Because they talk absolute 💩
His best call yet, no doubt.
Very happy with progress. Beauty particularly looking strong after a weak H1.
MP seems to be being managed to flat revenue to focus on profitability. Fair enough.
Ingenuity pipeline… well, keen to see what develops here.
That’s because they’re actually pretty decent jcb208.
Plus there’s the conf call to come where hopefully some additional information on strategy will be forthcoming.
It’s interesting isn’t it, that the derampers have been bemoaning the cash performance for 2 years and when we generate cash (v v good news & the city will love this) they change tack to complaining about revenue 🤣😂
Oops, overslept 🥱
Agree with Manc - a mixed bag.
Positives:
- cash performance v strong, feels like we’ve grown up a bit and are prioritising the right things. Gives confidence in FY24 projections. Think the city will like this.
- Beauty has clearly returned to growth. That is good news.
- Capex projections for FY24 c25% lower than previously guided.
Negatives:
- Nutrition decline, somewhat unexpectedly given H1 performance and all the recent coverage of B2B wins.
- Can’t really see where the “good news” he referred to at the end of the last conference call is in these results.
- Strategy info a throwaway line. No information on expected timing or other details on possible alternatives that MM himself has suggested. Leaves us guessing again. Hopefully more info on that in the call.
That would be absolutely awful timing Manc, but obviously hope it is 😂
All we need Manc, is a coherent update on strategy.
The numbers will most likely be better but not standout else we’d have heard more on them a few weeks ago, I’d have imagined.
It’s absolute clarity on the strategy that we’ve been lacking for 18 months since the “strategic review” was announced that LA never came back on.
Either way, you don’t have to have sleepless night now you’ve reduced so at least you get to rest easy tonight 😴 😴
Brilliant post, love those that really give insight to the thinking.
I’ll be honest, I was marginally disappointed with the launch. I was hoping it’d have more of a food focus - type of place you could sit in or take anway, clean, air fried food - with the coffee and shakes more secondary. There seemed to be only 4 lunch menu options.
I also thought the range of stock seemed quite small, with only smaller bags of everything - personally I size up on everything but maybe that’s to appeal to casual shoppers who don’t want to walk around with a 5kg bag of whey all day. And my final point would have been to extend the opening hours in to evening and sweat the asset to pick up the evening gym-goers/office leavers.
There were some great things I loved though. The fit out is amazing, the way they marketed it with the influencers was unbelievable and I loved that they had the activewear concession. They have some really nice gear. I always wear Nike for my gym kit but I’m seriously considering trialling MP and see a lot more people in the gym wearing it now.
Anyway, not quite what I thought but I still got excited about it. Did some research on average footfall to these type of places, used the MP pricing, replicated it over a wider network and guesstimated a fairly small but well-placed network of these could maybe add £30-50m revenue pa. But was wondering about the cost of scaling and how long it would take?
This morning, Matt provides the answer. I love the store-in-a-store idea because it’d get our brand in front of millions of eyes it wouldn’t otherwise, and give us a route to sell more activewear. I’m guessing we could scale more quickly with this route too, potentially with up front capex covered by the retailer looking to offload space. It’s a fantastic idea and could blow my £30-£50m revenue out of the water if done with a large store or supermarket.
Really excited about the potential for this one and personally think Matt might be playing down exactly where they are with this. Suspect the old “I had low expectations, if it works we might roll it out” is more of a ruse not to give away how excited he is about this to potential partners.
Think they’re currently mulling over Brewman 🤣😂
What did he actually post about Thg? I didn’t see much tbh.
Whatever duff info he gave, he posted exactly what he said he would on his Instagram at the exact time, and about his trip to MM’s holiday home the following week - both of which turned out to be correct. So either said poster could predict the future, or it was indeed…