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Started buying Boo at the same time he started buying Currys, so it looks as though a bid is in the offing from big Mike before too long imo. He now owns more shares than Kamani. I think he'll go for control and go for the 30% and it could be quick! my views.
So MA has accummulated more shares to take Frasers to 23%. Nailed on, MA's going for it. 30% he has to make a bid at a min of the highest price over the past 12 months. Less than 30%, he can bid what he likes, but the Board might well reject it. Consortium bid, and it gets interesting. Whatever, it does look as though Ashley is going to make a go for Boohoo, and I suspect there have already been talks with the Boohoo Board. Remember, all that customer data is worth an absolute fortune. Things are hotting up folks!
when will this govt finally get what it has done? companies delisting from the stock exchange in droves, companies moving out of the uk after the brexit hammer finally fell, consumers having to pay higher prices all round for everything, what's economic or competitive thats left for the uk? nothing, sunak and his cronies have closed britain and its isles down, most companies now have a base in a tax friendly regime, kamani and his family now spend most of their time in dubai, no one can be ****d with the high taxes, and high inflation that the uk continues to deliver. sunak now talks about offering tax incentives for people to stay here, but it's too late, he's offering it half heartedly after the horse has bolted.
the kamanis offered employment to leicester and beyond, in areas deprived of the chance to work, and in the end, this hapless govt forced the business to close the factories and put people out of work, who then become onerous on the state for benefit. why is sunak and this govt so so short sighted? don't even answer. they've closed the uk down, it's no longer open for business, and anyone with any sense will move their operations out of the uk. my views.
“For us to move out of Leicester, it’s very easy for us to take all our production offshore,” he said. “Lots of people in the fashion industry have moved offshore. We are still here and sometimes, sometimes, it feels like we get punished for it, just sometimes.”
With concerns among campaigners and industry sources that Boohoo was looking to move more of its supply base abroad, Kamani did not answer directly whether he had been looking to do this."
source: The Guardian 2020
who could blame him if he did? The Tories have driven all manufacturing businesses out of the UK. Brexit sealed the fate, as the import charges to get materials in to the UK has been a crippling cost for many.
"The group is now well positioned to return to growth, and we are focused on ensuring that growth is both sustainable and profitable. We will host a capital markets day in due course to provide more detail on our strategy, key growth drivers and the longer-term outlook for the Group".
source: yesterday's rns
"The group is now well positioned to return to growth, and we are focused on ensuring that growth is both sustainable and profitable. We will host a capital markets day in due course to provide more detail on our strategy, key growth drivers and the longer-term outlook for the Group".
source: yesterday's rns
"We have a highly loyal customer base and throughout the year we remained focused on maintaining our position as an industry leading, fashion-forward group with brands that deliver on-trend, high quality fashion at great value prices. The strength and diversity across our core brands means the Group is well placed to serve a global customer base across fashion, beauty and home."
source: yesterday's rns
Thanks JWB, let's see if it can motor there pretty sharpish :)
Yuri, do we believe you, or Boohoo's accountants who know the financial position inside out, and their auditors? I think I trust the latter more than you! If they are optimistic, then so am I! They are not alone in having issues since Brexit, and transitioning is painful, but its clear they are now sailing in to calmer waters, so hoist the sails!
Shorts, you're all in trouble, the bottom was hit today, it will be up from here. Every move up must be frightening for you all, but you had your chance to flee this morning and didn't take it. The only way is UP now, todays news will have been digested, and many will see that it's not as bad as first thought. If analysts are giving it a buy rating and looking at 75p, then upwards we will go and that 75p won't be far away, in fact, I'd say it's pretty much in touching distance. Let's see what tomorrow brings, but we sure don't need the nappy brigade here tomorrow.
I will tell you what is happening imo. This is borne out of what is happening in another company that a friend of mine is dealing with at present. The company that my friend is dealing with was UK based, imported raw materials from India to here to make up goods for sale here and to export to Europe and the US. Unfortunately, Brexit impacted the business, and this is a multi million pound outfit, so no fly by night operation. Brexit has made it impossible to service the UK and Europe, so the outfit which my friend is associated with, have shut down all of their operations in the UK, closed their manufacturing factories here in the North, lots of jobs gone, and have moved operations out to Poland, which has become their European arm, from where they can operate sufficiently to drive the market forward in Europe, and they are not so bothered about the UK now. They have even moved their bankers out of the UK to Europe and US.
So I imagine the same transititioning needs to happen for BOO, they will no doubt leave the UK, and base themselves in Europe, from where it will be easier to manage European sales, and also avoid the massive hike in import taxes now imposed here by taking operations elsewhere. Sadly, it appears a lot of manufacturing businesses are lining up to do the same, high inflation, crippling taxes, Brexit killed manufacturing in the UK, and the North will be very badly hit. my views, but I suspect BOO will wind down business here and concentrate more on Europe.