Member Info for Goldenyears.

PMoran I’ll let T4G tell you how it’s “correct” as he will reconcile for us the 94m visit / month for Asos shown on similarweb to the 3billion visits (web and app) that Asos give in their annual accounts

I don’t get why T4G is calling me a liar as I’ve been clear where the source was

Also t4g the only lie told here is you adding words to what I said!

It’s a bit annoying that we haven’t seen a fund top up it’s holding at these levels

Octopus were buying heavy at over £8

My point is T4G is how can you even know the US warehouse will be a good things if you’ve no idea what the EBIT margin is likely to be? That’s a key part of investing

Also just to clarify in the cuts from September it has the cuts from May which shows you exactly what I said re Missguided. I never said what you claim I said. You still have the old habit of adding words to other people it seems

Also how can you claim similarweb is any good I’ve just told you it’s out massively vs the official number provided by both Asos and boohoo. How is that diligent what you are saying?

That’s not a THG site at all

Fine but teh original point stands that Similarweb data isn't worthwhile as it's wildly out. It doesn't reconcile to the actual figure at all so it discredits your original point however you cut it

Also you haven't answered re the margin on Asos US business. Do you know what that is?

Re missguided we went through this around Sep time and I cut and paste for you what I said and it was nothing as you claim

Here's the message from 28th of Sep

"I never said the point about superior customer base. You can't keep adding things to make others wrong. Missguided consistently posted revenues above £200m so there clearly was loyalty

The bits you're saying are "mendacity" you won't find as I never said them. They were elements you just added to my quotes to try and say I was wrong!

You won't find them. The only one who never shows up with the goods is you"

and heres the other

""I think it’s a good move. Cost nothing extra to run it as you can just run this through the boohoo infrastructure (warehouses etc)
Also Missguided is a popular brand in the US which is where boohoo needs to win (hard). This brand, being popular in the US is another which de risks the big US warehouse investment
Goldy"

I said it's popular (which it was) but the point being it's extra GMV to cover the costs of that US warehouse. I haven't said it was a gamechanger. Good to see you've not changed and still either moving goal posts or putting words to people taht they didn't say!"

Hope this helps

I’ve re-cut your statement for you

“Asos get over 90m visits per month per similarweb” so which is it as in the last post it 1bln a month which doesn’t tie to boohoo’s accounts or Asos so it can’t be that

Please clarify or keep moving the goal posts like you always do

I never said Missguided had a superior brand (you’re doing that thing again where you add words that I never said - we’ve been through this and I thought you might have grown up)

Those competitors don’t even retail boohoo’s core products at the same price points how are they competitors? Particularly over peak Christmas trading? Sports direct doesn’t sell dresses. Tk mass doesn’t sell trend (it’s old season and a higher price point)

T4G once again you aren’t very diligent 90m visits is 1bln. A quick look at Asos annual report will tell you that visits were over 3bln

So again when you claim others haven’t done research it seems you haven’t either (again)

In terms of competitors you’re listing sports direct (which doesn’t sell fashion except very old season Nike so no dresses etc), new look (which could compete but has been struggling for years) and tk maxxx which doesn’t sell items which would compete with boohoo or PLT offer and likely isn’t the same demographic

So what really drove the U.K. decline?

Who is it on the high street that boohoo and PLT is competing with? Zara? No. H&M? No

Different styles and price point. So who?

Re US I wouldn’t be so sure. Do you know what margin Asos makes on its US operations? Also website lead is useless for Asos as it’s c.15% of traffic (told you this several times)

Is the point not that U.K. revenue was a 4% decline and now an 11% decline

The excuse for the USA is poor customer service proposition so what’s the excuse for the worsening U.K. sales?

Also Shein raising ANOTHER $3billion it looks like

Oke you need to look at the metric quarter on quarter. THG was up sales by 11% for beauty at H1 and then ended 3% up

So the maths shows that’s a huge slow down. Year on year results are poor for the point you’re making. Better to get a spreadsheet and do quarter to quarter for true trends

Sorry not to be negative (I know I can be at times) but I don’t know how much upside THG will see from this drop as for one we have the cycle the whey bought earlier in the year and second I think MyProtein will have to invest in pricing (AGAIN) to win back market share

I know we invested in prices to hold or grow market share but that clearly didn’t happen so we need to get back on track if the business is to see growth

Or they were mislead by management all the same

@stock because Steve Whitehead told us so in an update. Obviously there are bits and bobs elsewhere (Nutrition might need a new machine for bars etc or maintenance capex at Bentley labs) but the big capex programmes are all Ingenuity

The big one we need is nutrition manufacturing in asia so that we can match the forex but this was always told as "medium term" and I suspect even longer now

Oke £2bln could net £24m to £48m of EBITDA

The £100m yesterday was to do with the main divisions missing by a mile. MM has then bridged back with the £20m but in reality we should hit £100m even with the £20m loss making divisions

More jobs and cuts and fast!

GMV works like this (roughly)

If it’s the end-to-end service THG charge 4% of GMV. So of the £1bln THG would get £40m which is the revneue number THG show in their accounts. The GMV number doesn’t show

Ingenuity was sold at IPO as being a 60% EBITDA margin business, when it scales. As we aren’t scaled I’d say slash that by 50% to be prudent

So the £1bln GMV gives you between £12m to £24m EBITDA

The £46m is revenue and not GMV for GMV (estimate) you’d have to gross this up

FCF achieved wasn’t actually an underlying FCF for H2

Stating £1bln of GMV to be added is just hot air and a throw away statement there’s nothing for investors to hang their hat on. Particularly against previous updates

That's the point though 2phevs you think we are in the same league but I'm no POSTI/FACTORY WORKER

Would be nice if you were mature enough to be humble

Just remember who did a dedicated post "One more golden axe to grind before the RNS" to mock someone

and then reflect on who's sanctimonious :)

But (and this being sanctimonious) I'm 3 and 0 with you now
- Options - you got that all sorts of wrong
- Partnership with Gordan Ramsey - it's a lease of a building
- Last night - egg on face

2phevs ladies and gentleman...

"You seem extra concerned about cash-flow here though, what are your view on Ocado"

Is THG Ocado? Do they have to move in unison?

I care about THG and the numbers don't change "because ocado"

what do you think they have done?