Asos Share Discussion Threads

[vanduke] 26/3/2024 07:20

Revenue is ego.+ cash is substance

[wolfofhounslow] 26/3/2024 07:17

Free cash flow improved by c.£240m compared to H1 FY23 due to improvements in underlying profitability and the clearance of aged stock. Despite the sales decline, H1 free cash outflow2 of c.£20m represents a strong outcome in a period typically characterised by significantly negative working capital (see chart below) and represents our strongest H1 cash performance since FY17.· As a result of this performance, we closed the half with a robust cash balance3 of more than £330m, an improvement of more than £20m from H1 FY23.· Full-year guidance is unchanged, including: 5-15% sales decline, positive adjusted EBITDA, inventory back to pre-COVID levels, and positive cash generation, reducing net debt.

[throgmortonstreet] 26/3/2024 07:16

WolfofHounslow and his many aliases desperately trying to put on a brave face.

[blackhorse23] 26/3/2024 07:14

Will drop below 250p

[vanduke] 26/3/2024 07:14

Looks like concentration on profits rather than revenue is working!!

[vanduke] 26/3/2024 07:13

They've seemed to have weathered the storm and are now + cash generativeStrong cash balance.All good for recovery

[wolfofhounslow] 26/3/2024 07:12

Free cash flow improved by c.£240m compared to H1 FY23 due to improvements in underlying profitability and the clearance of aged stock. Despite the sales decline, H1 free cash outflow2 of c.£20m represents a strong outcome in a period typically characterised by significantly negative working capital (see chart below) and represents our strongest H1 cash performance since FY17.· As a result of this performance, we closed the half with a robust cash balance3 of more than £330m, an improvement of more than £20m from H1 FY23.· Full-year guidance is unchanged, including: 5-15% sales decline, positive adjusted EBITDA, inventory back to pre-COVID levels, and positive cash generation, reducing net debt.

[mirabeau] 26/3/2024 07:11

Look at the FCF turnaround. You cannot say fairer than that. Sales reductions baked in

[blackhorse23] 26/3/2024 07:11

Sales decline 18% ???

[vanduke] 26/3/2024 07:10

Turnaround on track!!

[qantas] 26/3/2024 07:10

Short G-Y Bears running for the hills today.

Summary unaudited performance



· Sales1 declined by c.18%, broadly in-line with guidance that P4 FY23 trends were expected to continue through H1 FY24 as we annualise actions taken during FY23 to improve core profitability under the Driving Change agenda and with H1 intake c.-30% yoy as we right-size stock levels.

· Good progress on implementing the Back to Fashion strategy, including action to clear aged stock and transition to the new operating model by FY25. Ahead on plan to improve stock efficiency and reduce inventory to c.£600m by year end. Test & React is now tracking at c.5% of own-brand sales, bringing high-fashion product from design to site in 2 to 3 weeks increasing our agility in responding to rapidly evolving customer demand.

· Free cash flow improved by c.£240m compared to H1 FY23 due to improvements in underlying profitability and the clearance of aged stock. Despite the sales decline, H1 free cash outflow2 of c.£20m represents a strong outcome in a period typically characterised by significantly negative working capital (see chart below) and represents our strongest H1 cash performance since FY17.

· As a result of this performance, we closed the half with a robust cash balance3 of more than £330m, an improvement of more than £20m from H1 FY23.

· Full-year guidance is unchanged, including: 5-15% sales decline, positive adjusted EBITDA, inventory back to pre-COVID levels, and positive cash generation, reducing net debt.



A graph of a graph of a number of different colored squares Description automatically generated with medium confidence



José Antonio Ramos Calamonte, Chief Executive Officer, said:



"ASOS is becoming a faster and more agile business, aided by the incredible work of our teams to speed up all of our processes to deliver the fashion, quality and prices that our customers want, when they want it. I'm excited by the performance of our new collections, while we have also made great progress in monetising inventory that built up over the pandemic and in improving the core profitability of our operations. We have reconfirmed our guidance for FY24 as we lay the foundations for a more profitable, cash generative business from FY25 and beyond."

Please do your own research as always and follow FCA guidelines.

[vanduke] 26/3/2024 07:09

Free cash flow improved by c.£240m compared to H1 FY23 due to improvements in underlying profitability and the clearance of aged stock. Despite the sales decline, H1 free cash outflow2 of c.£20m represents a strong outcome in a period typically characterised by significantly negative working capital (see chart below) and represents our strongest H1 cash performance since FY17.· As a result of this performance, we closed the half with a robust cash balance3 of more than £330m, an improvement of more than £20m from H1 FY23.· Full-year guidance is unchanged, including: 5-15% sales decline, positive adjusted EBITDA, inventory back to pre-COVID levels, and positive cash generation, reducing net debt.

[jim rockford] 26/3/2024 07:09

Excellent results... turnaround firmly on track.

[wolfofhounslow] 26/3/2024 07:08

Free cash flow improved by c.£240m compared to H1 FY23 due to improvements in underlying profitability and the clearance of aged stock. Despite the sales decline, H1 free cash outflow2 of c.£20m represents a strong outcome in a period typically characterised by significantly negative working capital (see chart below) and represents our strongest H1 cash performance since FY17.· As a result of this performance, we closed the half with a robust cash balance3 of more than £330m, an improvement of more than £20m from H1 FY23.· Full-year guidance is unchanged, including: 5-15% sales decline, positive adjusted EBITDA, inventory back to pre-COVID levels, and positive cash generation, reducing net debt.

[vanduke] 26/3/2024 07:08

Free cash flow improved by c.£240m compared to H1 FY23 due to improvements in underlying profitability and the clearance of aged stock. Despite the sales decline, H1 free cash outflow2 of c.£20m represents a strong outcome in a period typically characterised by significantly negative working capital (see chart below) and represents our strongest H1 cash performance since FY17.· As a result of this performance, we closed the half with a robust cash balance3 of more than £330m, an improvement of more than £20m from H1 FY23.

[factsandfigures] 26/3/2024 07:06

Sales declined by around 18%, which is slightly worse than previously forecast by ASOS.

Declining sales are expected to continue throughout the first half of Full Year 2024 as the cost of living crisis continues.

Expectations for the Full Year include annual sales to DECLINE by between 5% and 15%.

[sellhighandbuylow] 26/3/2024 06:54

​There’s still no sign of a turnaround at ASOS, with the share price drifting back to the lows of summer 2023.

​It’s hard not to exaggerate the decline and demise of ASOS. For a while, it looked like ASOS could be a clothing titan and an international success story.

Unfortunately, the problems began long before the pandemic, with the shares slumping from their 2018 high of more than £78 per share to a low of £10 when Covid-19 hit. Lockdowns provided a brief respite, and lifted the ASOS share price, but this proved to be a very short-lived phenomenon.

​Since early 2021 the shares have been on a relentless downtrend, and after a brief revival in the summer of 2023 have now slipped back to below 400p.

​Pre-tax losses have ballooned, while the company has become the target of short-sellers, who have unsurprisingly seized on the 89% decline over the past five years. Many shareholders are now just pinning their hopes on a take over.

Source: IG.COM

[sick of it] 26/3/2024 06:50

How desperate are you to post that 17 minutes before the actual RNS?

[seedoftongo] 26/3/2024 06:48

Congratulations to all shorting this .
You have done exceptionally well.
You have money that the likes of Qanny used to have .
👍👍

[sellhighandbuylow] 26/3/2024 06:43

Maybe you need a dose of reality !!

Take a look at the 3 year ASOS share price chart

[rivingtonstreet] 25/3/2024 22:14

ASOS has 4.4 billion in revenues. People clearly shop there. I think the bears need to get over themselves and quit the hate campaign. Value at this price imo

[qantas] 25/3/2024 21:14

Toast agree tomorrow will be Brutal on the G-Y shorts doomed to failure.

Please do your own research as always and always follow FCA guidelines.

[havinthelasttoast] 25/3/2024 19:52

So boys I told you on December bad things were. I consistently reminded you.

Market already knows. Has it priced it in? I don’t know but tomorrow will be brutal TU. You can bet your slice of toast in the morning on that.

Lovya loads ya daft mugs