Asos Share Discussion Threads

[wolfofhounslow] 05/9/2024 06:51

FY24 Trading Update ASOS has made good progress on its Back to Fashion strategy, focused on bringing the best fashion and most inspirational experience to its twenty-something fashion-loving customers and delivering sustainable, profitable growth. For FY24, ASOS expects adjusted EBITDA at the top end of consensus estimates, sales slightly below guidance, and all other guidance as set at FY23 year end remains unchanged, subject to the impact of the Transaction. ASOS intends to update on its strategy and financial guidance at its full year results in the coming months. H2 saw continued progress on Back to Fashion strategic priorities to make ASOS faster, more agile and more profitable:· Improving our speed to market: Test & React, which brings product from design to site in less than 3 weeks, has reached its target for c.10% own-brand sales by end of FY24.· Flexible models continue to scale: Partner Fulfils now accounts for >4% GMV across c100 brands, bringing customers even greater breadth and depth of products.· Reducing the cost to serve: Using AI technology, personalisation and improved imagery, ASOS has improved the customer experience and reduced total and underlying returns rate year-on-year. These actions enable ASOS to continue to make free returns available to all customers in all our core markets, including:o Improvements to sizing and how clothing and accessories are displayed on product pages, including greater use of videos and 360 imagery;o Introducing AI to better understand and address reasons for return, creating a feedback loop for improvement; ando Introducing a net order threshold for free returns for customers with excessive returns in France, Germany, and the US earlier in the year. A similar approach is currently being rolled out in the UK.

[mortal1ty] 05/9/2024 06:49

Hardly an excellent RNS. I see a 40m profit hit from the loss of Topshop as well interest on the new convertible bond. Topshop valuation looks okay but not amazing.

Main positive is this lifts a massive overhang on the shares.

[wolfofhounslow] 05/9/2024 06:49

ASOS announces refinancing, Topshop and Topman joint venture and FY24 trading update Key updates · ASOS today launches a refinancing, which will include (i) an offering of approximately £250m Convertible Bonds due 2028 and (ii) a concurrent partial cash repurchase of the outstanding £500m 0.75% Convertible Bonds due 2026 issued by Cornwall (Jersey), with full details included in a separate RNS.· ASOS announces an amendment and extension of its existing facilities agreement with Bantry Bay Capital to May 2027 with an option for a 12 month extension.· ASOS has entered into a binding agreement with HEARTLAND to form a joint venture which will purchase the Topshop and Topman brands from ASOS. HEARTLAND will indirectly hold a 75% stake in the joint venture for £135m cash consideration.· The remaining 25% stake will be held by current Topshop and Topman owner ASOS Holdings Limited1.· ASOS expects FY24 adjusted EBITDA at the top end of consensus estimates2, sales slightly below guidance, and all other guidance as set at FY23 year end remains unchanged.· Good progress on ASOS' Back to Fashion strategy, hitting targets on Test and React, adding new and exciting third party brands and progress in lowering returns. Joint venture for Topshop and Topman ASOS is pleased to announce that, following an initial unsolicited offer and a competitive sale process, it has today entered into a binding agreement with a subsidiary of HEARTLAND A/S ("HEARTLAND") to form a new joint venture (the "Joint Venture") which will purchase the Topshop and Topman ("TSTM") brands (the "Transaction"). HEARTLAND (through its subsidiary, AKTIESELSKABET AF 24.8.2024 (the "HL Shareholder")) will hold a 75% interest in the Joint Venture in consideration for £135m, representing a total valuation of £180m for the TSTM brands. The remaining 25% in the Joint Venture will be held by ASOS Holdings Limited ("AHL"). AHL will have the right, at its sole discretion, to sell a further 5% interest in the Joint Venture to the HL Shareholder for £9m. After transaction fees, and pro-rata payment to Nordstrom International Limited ("Nordstrom") of its share of the consideration, this represents c.£118m net cash consideration for ASOS, which will be used to strengthen ASOS' balance sheet. HEARTLAND is an investment and holding company representing the interests of the Holch Povlsen family, and their family business BESTSELLER. HEARTLAND has invested in a diverse portfolio of companies including ASOS, while BESTSELLER operates an extensive wholesale and retail business with more than £4bn sales across its channels including c.2,800 retail stores in over 30 countries. The Joint Venture will grant ASOS certain design and distribution rights for the TSTM brands in return for a royalty fee to enable it to continue marketing and selling the TSTM brands online. For FY25, the Transaction is expected to have a £10-20m negative impact on EBITDA and to be increasingly EBITDA accretive over time. The Transaction is subject to customary antitrust approvals and completion of the Transaction ("Completion") is expected to occur in Q4 2024. The Board unanimously believes the Transaction is in the best interests of ASOS shareholders as a whole, as well as customers, and ASOSers, for the following reasons: · The Transaction ensures that ASOS customers will continue to benefit from access to Topshop and Topman products, alongside ASOS' £1bn+ revenue own brands business and c.900 partner brands.· The sale of a 75% stake in the Topshop and Topman brands aligns with ASOS' renewed focus on allocating capital more efficiently, thereby accelerating ASOS' core Back to Fashion strategy.· As part of the Transaction, ASOS intends to re-launch Topshop.com within 6 months of completion.· The new Joint Venture has the opportunity to expand Topshop and Topman's customer reach through selected wholesale partners - both online and offline - to bring customers globally the best that the brands have to offer.· The sale proceeds will significantly strengthen the Company's balance sheet, while retaining a stake in the TSTM brands (through the Joint Venture) ensures that ASOS can participate in the future growth potential of Topshop and Topman. It is the Board's intention to use the net proceeds from the Transaction to substantially increase the balance sheet strength and flexibility of the Company. By virtue of HEARTLAND's 28% indirect shareholding in ASOS, HEARTLAND is considered a related party of ASOS under the Listing Rules. The board of ASOS (the "Board"), which has been so advised by J.P. Morgan Cazenove, acting in its capacity as sponsor in relation to the related party transaction, considers that the Transaction is fair and reasonable as far as ASOS shareholders are concerned. The Transaction also constitutes a significant transaction under the Listing Rules. FY24 Trading Update ASOS has made good progress on its Back to Fashion strategy, focused on bringing the best fashion and most inspirational experience to its twenty-something fashion-loving customers and delivering sustainable, profitable growth. For FY24, ASOS expects adjusted EBITDA at the top end of consensus estimates, sales slightly below guidance, and all other guidance as set at FY23 year end remains unchanged, subject to the impact of the Transaction. ASOS intends to update on its strategy and financial guidance at its full year results in the coming months. H2 saw continued progress on Back to Fashion strategic priorities to make ASOS faster, more agile and more profitable:· Improving our speed to market: Test & React, which brings product from design to site in less than 3 weeks, has reached its target for c.10% own-brand sales by end of FY24.· Flexible models continue to scale: Partner Fulfils now accounts for >4% GMV across c100 brands, bringing customers even greater breadth and depth of products.· Reducing the cost to serve: Using AI technology, personalisation and improved imagery, ASOS has improved the customer experience and reduced total and underlying returns rate year-on-year. These actions enable ASOS to continue to make free returns available to all customers in all our core markets, including:o Improvements to sizing and how clothing and accessories are displayed on product pages, including greater use of videos and 360 imagery;o Introducing AI to better understand and address reasons for return, creating a feedback loop for improvement; ando Introducing a net order threshold for free returns for customers with excessive returns in France, Germany, and the US earlier in the year. A similar approach is currently being rolled out in the UK.

[mortal1ty] 05/9/2024 06:47

Positives and negatives. Wonder who will win out today.

[wolfofhounslow] 05/9/2024 06:46

Excellent rns

[qantas] 05/9/2024 06:42

Amazing shorts doomed to failure today how will they her out ???

ASOS announces refinancing, Topshop and Topman joint venture and FY24 trading update

[sellhighandbuylow] 04/9/2024 19:01

Jon Smith posting as QANTAS and WOLF of LOSERVILLE and WOLOLOL and AJ NOT VERY BRIGHT and RIVINGTON STREET and LOSSES

(Same location, same IP address, same LOSER)



The failed share ramper from London, usually refers to macroeconomics and the state of the economy as part of his failed message board share ramping.

[qantas] 04/9/2024 17:53

Shorts deep fried today and desperate.

[wolfofhounslow] 04/9/2024 09:18

Tick tick tick tock Close them shorts

[qantas] 04/9/2024 08:03

They are at 4.88%

[wolfofhounslow] 04/9/2024 08:00

Shorters in trouble

[sellhighandbuylow] 04/9/2024 06:15

ASOS'S PROBLEMS JUST GOT EVEN BIGGER !!
=========================================

[qantas] 03/9/2024 15:53

Great news shorts closing now at 4.88%

[qantas] 03/9/2024 11:45

sell how desperate are you.

[sellhighandbuylow] 03/9/2024 11:40

QANTAS
Member since: 23 Oct 2002 (and losing money ever since)



MOVE AWAY FROM THE COMPUTER CLOWN BOY !!

[qantas] 03/9/2024 06:02

Troglodyte G-Y bears Yoda say Hodl.

Ready to hammer up

[qantas] 02/9/2024 15:59

Shorts doomed to failure and closing.

Now at 4.98%

[millennialinvestor] 02/9/2024 15:13

oh wow its hammering up.

[qantas] 02/9/2024 15:07

Share price hammering up.

[robertbarns1] 02/9/2024 12:20

SOS SOS SOS is the one that everyone is talking about

[qantas] 02/9/2024 06:52

Ready to hammer up

[robertbarns1] 02/9/2024 05:52

SOS SOS SOS is the one that everyone is talking about

[qantas] 01/9/2024 15:59

Rob how much have you lost on your pretend short.

robertbarns1 6 months old baby in nappies

Member since: 06 Feb 202

[robertbarns1] 01/9/2024 09:00

ASOS TRADING OVER 30% more than its target price





300p is the target price set by Barclays

[qantas] 01/9/2024 07:02

I am not interested how much you have lost loserville

You are still in nappies

robertbarns1

Member since: 06 Feb 2024

Member since: 06 Feb 2024