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I am quite bearish on Asos' results tomorrow, the last 3 quarters have been mediocre at best factoring in a lockdown- my god. Boohoos Q1 success was largely due to joggers and general loungewear, both cheap and affordable, unfortunately, that isn't the case at Asos. Be interesting how to market responds (to poor Asos results) from a BOO perspective, could see it going either way...
Unfortunately, I am very bearish on Asos' results tomorrow, the last 3 quarters have been mediocre at best factoring in a lockdown- my god. Boohoos Q1 success was largely due to joggers and general loungewear, both cheap and affordable, unfortunately, that isn't the case at Asos.
Ted baker and Boohoo two completely different ends of the spectrum, one has a horrible balance sheet one has an amazing balance sheet. One has been a massive loser in the death of the high street, one has quite possibly added to the death of the general highstreet shops. Boohoo is still quite new, if you think, as bad as it sounds, negative press regarding factory conditions would stop these 16-26 year olds buying boohoo then you are incredibly naive. I only see there Q2 results being better than Q1 which earned broker target ratings >450. Why? The pubs are re-opening, peoples social life is slowly returning translates to massive increases in sales.
I wonder if Boohoo are plotting some sort of announcement be it an earlier than expected trading update (like Asos) or something material, hence the 0 director deals in the past few days (as they would be inside for that period until released)
I agree Splice, ASOS will be a good indicator.. one of the surprising things with the Q1 results for Boohoo was the massive rise in sales volume for joggers, stay at home casual clothing which contributed to unbelievable sales numbers- I suspect Q2 will be more of the same but this time sharp increases in not just stay at home casual clothing but going out clothing given the re-opening of the economy, bars, pubs and traditional retail increases in sales volumes over the summer months- very excited!