Asos Share Discussion Threads

[ajseabright] 17/4/2024 08:01

Can anyone advise why this has opened up.Wow

[qantas] 17/4/2024 07:55

Fun fact says it all you are just a G-Y Bear Trolls along with Throg.

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

[ajseabright] 17/4/2024 07:55

Maaaaaaaaaaaatttttte hahahahahahahahahahahahahahahahahahaIt's ok pal everyone is laughing at me really#notsobright

[throgmortonstreet] 17/4/2024 07:55

Despite Chief Executive, José Antonio Ramos Calamonte claiming that ASOS’s turnaround strategy is working, its latest half-yearly results would suggest otherwise.

The costly £30 Million “brand building” exercise first announced in November 2023 has largely failed to help it to return to growth.

With most shoppers reluctant to part with their cash, ASOS’s sales turnover fell by 18%, with expectations of further falls of between 5% and 15% for Full Year 2024.

ASOS shareholders can expect plenty more bumps in the road, including the massive threat to ASOS’s future sales coming from rival clothing retailers, SHEIN and TEMU who are both eating away at ASOS’s market share

Revenue fell to £1,505.8 Million

Loss before Tax of £270 Million

[tomboyb] 17/4/2024 07:53

Looking like a weak day today -

May well fall below 300p -

[factsandfigures] 17/4/2024 07:51

I make no comment. I can neither confirm nor deny any trading positions that you ASSUME that we may or may not have in any stocks listed on any global Stock Exchanges.

[qantas] 17/4/2024 07:49

Fun fact you work on margins get a life and please don't be such a bad loser.

Anyway you will soon be gone.

Please do your own research as always

[ajseabright] 17/4/2024 07:47

You short then mate. Really?Wow

[factsandfigures] 17/4/2024 07:46

You don't get Margin calls when you are so far in profit, dimwit

[qantas] 17/4/2024 07:43

Shorts G-Y Bears muppets so doomed to failure they are the lowest of the low.

THROG
FUNFACT
ETC

We are ready to see you all deep fried with unlimited losses due margin.

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

[throgmortonstreet] 17/4/2024 07:25

QANTAS you only have yourself to blame for your financial losses on ASOS.



There have been plenty of warnings posted on ADVFN about ASOS, its falling sales, its cashflow problems, and its huge piles of unsold and unwanted stock.

You've been taught another invaluable financial lesson, and that is NEVER TRY TO CATCH A FALLING KNIFE !!!.

[qantas] 17/4/2024 07:23

Throg so desperate will be gone soon.

17 April 2024



ASOS plc
("ASOS" or the "Company")



Appointment of CFO and

Appointment of Independent Non-Executive Director



ASOS is pleased to announce the appointments of Dave Murray as Chief Financial Officer ("CFO") and Executive Director and Christine Cross as an Independent Non-Executive Director of the Company.



Dave joins ASOS as CFO and Executive Director with effect from 29 April 2024. Sean Glithero, who is the current Interim CFO will leave the Company following a handover period to ensure a smooth transition. Dave has more than two decades' experience across a range of finance roles in the retail and ecommerce industry. He spent a large proportion of his career at Sainsburys and Amazon in the UK, before holding senior finance roles at Farfetch and most recently was CFO of MatchesFashion.



Christine Cross has been appointed as an Independent Non-Executive Director with effect from 16 April 2024. She will Chair the Remuneration Committee and will also serve as a member of the Audit Committee. Christine has more than 35 years' experience in global multi-channel retail, initially at Tesco where she spearheaded own-brand development and reinvigorated the clothing brand as Trading Director. Since pursuing a plural Non-Executive career, Christine has served on the Boards of numerous listed, private and PE-backed businesses including Next plc (UK), Woolworths plc (Australia), Sonae plc (Portugal), Zooplus AG (Germany) and Clipper Logistics plc (UK). Most recently, she has served on the Boards and was Remuneration Committee Chair of Hilton Food Group plc (UK) and Coca Cola Europacific Partners plc as well as acting as Board Advisor to Unilever and River Island. Christine is currently a Senior Advisor at Inverleith LLP, an Advisor at Interpath Advisory and is an Independent Non-Executive Director at the Pollen Estate Trustee Company Limited.



José Antonio Ramos Calamonte, ASOS CEO, said:



"I am delighted to be welcoming Dave to the management team. His wide-ranging experience in the retail sector, notably in senior finance positions in several major retail, fashion and e-commerce businesses, will make him a valuable partner in the next phase of ASOS' journey to becoming a faster, more agile and more profitable business."



"I would also like to express my sincerest appreciation to Sean, who has played a pivotal role in driving change across ASOS to make it significantly stronger and more resilient than it was a year ago. Sean will remain with the business until a full handover is complete and we wish him the very best for the future."



Jørgen Lindemann, ASOS Chair, said:



"I'd like to welcome both Dave and Christine to ASOS on behalf of the Board. Christine's experience across her career as a retail executive and as a Board member and advisor, including as Remuneration Committee Chair for several PLCs, will be invaluable to ASOS and we look forward to working with her."

Please do your own research as always and follow FCA guidelines

[throgmortonstreet] 17/4/2024 07:20

A statutory loss of £270 Million is still a MASSIVE FINANCIAL LOSS, no matter how much you try to camouflage it.

Latest website traffic data and visitor numbers for ASOS's website up to and including 31st March 2024 show declining visitor numbers, which ultimately means less sales.

Marketing spend up and sales down, isn't a recipe for success, that is for sure

[qantas] 17/4/2024 07:14

Fun fact shorts doomed to failure with unlimited losses.

Please do your own research as always and follow FCA guidelines

[factsandfigures] 17/4/2024 07:11

At what point do you LOSERS want me to start saying:

[qantas] 17/4/2024 07:11

Wow Throg so doomed to failure with all the G-Y Bears.

Ready to hammer up Hello Kitty says York Yoda.

Strategic update and results summary

· Strong progress on Back to Fashion strategic priorities to make ASOS faster, more agile, and more profitable:

- Delivered c.£240m year-on-year ('YoY') improvement in H1 free cash flow (outflow of c.£21m) through disciplined inventory and cost management, representing our strongest H1 cash performance since 2017.

- Ahead of plan on stock reduction with £593m stock at H1 (vs. FY24 objective of c.£600m). Approximately half of the stock reduction came from the clearance of stock over 12 months old.

- Sold through c.83% of AW23 stock in H1, representing a 17ppt YoY improvement and resulting in two-thirds reduction in volume of AW stock carried forward vs. prior year.

- Increased stock turn on newness by more than 40% YoY with a c.10ppt YoY improvement in 12-week sell through - indicative of better and more relevant product under the new model.

- Flexible models scaling well: Test & React running at c.5% own-brand sales and already above 30% in launch category (ASOS Design Jersey Tops); Partner Fulfils running at c.5% of partner brand GMV.

- Structurally improved profitability with cost to serve4 down 120bps to 41.5% of sales despite volume deleverage over fixed costs and UK brand marketing investment.

· As previously announced, H1 FY24 sales -18% as we annualised 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.

· Over 60% of sales from product now excluded from promotions. However, adjusted gross margin down 260bps YoY due to planned discounting to clear old stock. Further clearance activity planned in H2 to unlock the full benefit of the new commercial model from FY25. Gross margin drag in H1 from heightened mix of old product sales estimated over 5ppt. Consequently, adjusted EBITDA ('AEBITDA') loss of £16.3m in the half.

· Reiterating guidance for FY24 sales decline of 5 to 15%, positive adjusted EBITDA and cash generation. Further clearance activity planned in H2 to unlock the full benefit of the new commercial model from FY25.

· AEBITDA for FY25 expected to be significantly higher than FY23 and FY24 driven by: (1) materially higher gross margin following removal of old stock and higher full-price sales mix of flexible stock models; and (2) ongoing transformation of the business following cost action already taken in FY23 and H1 FY24.

· Further strengthening of company leadership including appointment of new CFO detailed in separate RNS.



ASOS plc

Global Online Fashion Destination



Interim results for the 26 weeks to 3 March 2024

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

[havinthelasttoast] 17/4/2024 07:10

Duster

Into the 200,s today.

Operating loss even after huge cuts is still circa 250m. This business is going
Bust at this rate very soon.

Superdry anyone ?

[throgmortonstreet] 17/4/2024 07:05

Despite Chief Executive, José Antonio Ramos Calamonte claiming that ASOS’s turnaround strategy is working, its latest half-yearly results would suggest otherwise.

The costly £30 Million “brand building” exercise first announced in November 2023 has largely failed to help it to return to growth

With most shoppers reluctant to part with their cash, ASOS’s sales turnover fell by 18%, with expectations of further falls of between 5% and 15% for Full Year 2024.

ASOS shareholders can expect plenty more bumps in the road, including the massive threat to ASOS’s future sales coming from rival clothing retailers, SHEIN and TEMU who are both eating away at ASOS’s market share


Revenue fell to £1,505.8 Million

Loss before Tax of £270 Million

[amaretto1] 16/4/2024 23:11

And your point ??? ASOS Will hit 1.50 !!

[robertbarns1] 16/4/2024 22:52

200p fair value not sure we will see 150p this year

[robertbarns1] 16/4/2024 19:29

i will risk a top up at 250p




even if we see lower price eventually as the shorters will have 2 exit at some point