Because I have some I want to move from another provider!
Boohoo is now in the app
They acquired the online businesses of fashion brands Karen Millen, Coast and MissPap.
What is the bear case though? Masses moving away from fast fashion for environmental reasons?
Trading update today: https://otp.tools.investis.com/Utilities/PDFDownload.aspx?Newsid=1349094
Boohoo group plc, a leading online fashion group, is pleased to confirm that since its half year end, trading has remained strong across its key brands with a record performance across the Black Friday weekend. Both warehouses have had a strong operational performance.
Our new brands, Karen Millen, Coast, and MissPap, have been successfully integrated onto our platform. Initial ranges have been very well received, and we continue to broaden our product ranges as we progress our multi‐brand strategy.
The group continues to trade comfortably in line with market expectations and will provide further financial information covering the trading period for the four months to 31 December 2019 on 14 January 2020
Shares up 2.8% despite most other shares being down today.
Down 6% today.
Ouch. I’ve been tempted to buy for a while and have massively regret not doing so especially with the recent jump, but looks I’ve dodged a bullet not having bought in the last couple of days.
The long term trend is still very strong though so I wouldn’t worry too much about the last month’s volatility.
Oh don’t get me wrong I’m still very tempted (although I doubt they’ll be able to reproduce the present growth they’ve had so far), just meant that I’m glad I didn’t buy due to the 6% dip I’d just have been hit by! But this would be a good time to buy as it’s a 6% discount
Read all about it
Teen fashion retailer Boohoo said it now expects full-year revenue to be 40 per cent to 42 per cent ahead of last year at slightly higher margins.
The Manchester-based group, which only sells online, had previously been expecting sales growth of 33 per cent to 38 per cent at a margin of around 10 per cent before interest, tax and depreciation. The medium-term guidance of 25 per cent sales growth each year remains unchanged.
Can someone please explain what the yesterdays (20/01/2020) RNS (attached) says in layman’s terms Thanks
1359992 (1).pdf (143.1 KB)
Baillie Gifford sold some shares that took their % from 5.04% to below 5% of the company
Sold my Boohoo shares @ 3.00£, made 30% since I bought them. Now I’m trying to get back in and got 5 attempts rejected by FT.
I have recently installed a competitive app so I tried buying a single share there and the order went through straight away.
Boohoo was quite a popular share on FT? Did anyone stay invested? At what price will you buy back?
Since it is an online retailer, why is it still falling?
- It was so much overpriced?
- People are not going out so they don’t need clothing?
- Supply routes are impacted, because the borders are closed?
Guessing because fashion is discretionary spending, which I suspect people are dialling back on in the current climate, plus when you’re stuck at home may as well wear your onesies.
Its audience is the low end of the market, people whose jobs are under particular strain as many can’t work from home.
Got one share for free thanks to FT and sold after listening and reading about many controversies on their production line being rather unethical to come out with these competitive prices and basically 0 care for the environment.
Boohoo is eyeing opportunities to acquire brands that have fallen victim to the coronavirus downturn, as its own profit and sales continue to grow.
“The priority over the past few weeks has been the safety of our employees and team,” said finance director Neil Catto. “But definitely, we have got the ability as we go forward to look at opportunities that may arise and acquire brands that may need to be helped through to the other side of the crisis.”
Last year, Boohoo acquired the Coast and Karen Millen brands — though not their stores — out of administration and has since integrated them with its own supply chain. The downturn across much of the fashion sector is expected to result in a spate of business failures.
Earlier this month, Oasis and Urban Warehouse, which were once part of the Coast and Karen Millen stable, went into administration. Cath Kidston followed on Monday, while Laura Ashley was an earlier casualty.
Boohoo, which also owns PrettyLittleThing and Nasty Gal, had net cash of £241m at the end of February. Rival Asos recently raised more than £200m in an equity issue — showing that well-positioned retailers can still access capital markets.