Member Info for Ubik_Fresh

Fashion giant Inditex, owner of Zara, has reported a suresulrge in sales and profits but booked a substantial provision for the costs of Russia’s invasion of Ukraine.

Inditex posted revenue growth of 36% to €6.74bn (£5.73bn) in the quarter to April 30, when net income profit of €760m (£646m) was up 80% year-on-year.

Looks like the quality of the posts on here correlates closely with the SP.

I think the CEO news will come out official some time soon. I think market's have yet to react to this. It's definitely looking more steady at the moment.

Okay, found a non-paywalled article. New CEO is José Antonio Ramos Calamonte, a former exec at Zara-owner Inditex, and has been with Asos for 17 months. Interesting choice, not mega splashy, but it's someone who knows the organisation and the sector.

https://www.retailgazette.co.uk/blog/2022/06/asos-line-up-chief-commercial-officer-jose-calamonte-for-ceo-job/

Hey Dimi, source for the new on Asos new CEO? I can't find anything online, last I can find is an article in January touting Andrew Robb.

Shanghai set to ease it's Covid restrictions, which can only mean good things for supply chains.

Tbh, impressed this has held up. I expected worse today.

I think it's partly the handouts, partly the US markets rallying on retail stocks. I'm sure we are about to come crashing back down today.

Kentboy, markets have rallied on Sunak's support package and energy windfall tax.

Yun, not knocking it, just trying to be a realist. it will shed 4-5% over next few trading days at least. Just how it is, macro factors unchanged.

Don't worry, drop incoming tomorrow I expect. LOL. But yeah, healthy reminder how volatile this can be on good news.

None of us could have predicted this. I bought £500 in the 13s yesterday. Had it been more, I'd be selling right about now and re-buying when it goes down again tomorrow. Weird, weird **** right here.

Tempting to day trade to mitigate some losses, but unsure I have a) the nerve b) the spare capital.

I think it may bounce between 1,295.00 and 1400.00 for a while, at least that's what I'm hoping. As long as we don't break below recent lows!

Yes, that one also had me scratching my head.

I suppose the good thing is, there's nothing that's fundamentally changed about the business other than supply chain issues, which they seem to be managing well, i.e. that higher spend on stock in Q1. Macro issues are hitting many many businesses.

Keep holding folks. GLA.

@Scallop, it has been a bit brutal hasn't it? At least most of us are in a similar position and people here have been great to chat to.

The markets feel like 'opportunity overwhelm' at the moment. So many things look cheap. I think I'll gradually average down in £500 chunks as I have spare cash. At this point, in for a penny in for a pound. GLA.

Kentboy, agree... but just wondered how others were feeling / approaching this.

Hey folks.

So, I keep considering averaging down at current levels. Everything I read suggests the we have more pain to come this year in terms of markets dropping what with Inflation, Ukraine and supply chain issues (China). I've already got a good chunk of Asos in my portfolio, averaged at about £23.

Part of me says, stick to Index Funds / ETFs for now, but I'm tempted to chuck in a bit more cash to get my average price down. Optimistic me says, yes, great ideal. Pessimistic me feels like it could fall further and I'm left bag holding.

So, is this the bottom. Do I wait patiently, or should I start drip feeding? Opinions welcome.

Standing strong during a market wide rally? Not sure this is anything to shout about.