Global women’s wear brand focused on providing occasion wear and dressy casual wear primarily for 16 to 35 year olds and offers clothing, footwear and accessories.
Pre Close Trading Statement For The 6 Months To End September 2017 – Group revenue up 35% (online Revenue is up 204%) to £56.1m vs £41.5m last time. Gross margins remain in-line with expectations.
Up 10% in the past week ahead of this statement (insiders?), on a PER of 24.6 I am slightly tempted to get involved here.
22-Nov-2017 – 157.5p – £196.3m – PER 21.5
Interim Results For The 6 Months To End September 2017 – Nice all round rises of 30%+, Revenue, PBT and EPS – Online revenue is up 200%+.
This latest update seems about in-line with forecasts. It’s actually quite an encouraging update and even on the current PER, it looks worth a closer look.
Subsequent Note: Could see nice figures in H2 if Christmas sales are good for it’s “glitzy” range.
10-Jan-2018 – 150p – £188.8m – PER 20.1
Christmas Trading Update – Strong trading in-line with expectations – A 31.2% (CC) Revenue increase for the 7 week period from 19 November 2017 to 6 January 2018. On-line Revenue was up 119.0%.
This is an impressive enough update, wondering if this could be a bottom now (since the IPO it’s drifted down). Going on my Watchlist, 150p.
After falling to my Watchlist price level of 150p decided to go Neutral here. Looks OK but just no real firm figures or broker updates available.
12-Apr-2018 – 150p – £186.3m – PER 18.4
Trading Update For The 12 Months To End March 2018 – Revenue up, in-line, 30% to £116.4m. Gross Margins in-line but Operating costs slightly higher.
Revenue increase nice but with no mention of profits in this update (Why Oh Why Oh Why) and with no broker updates available – I have to sit on the side-lines here.
5-Jun-2018 – 178p – £221.1m – PER 22.2
Preliminary Results For The 12 Months To End March 2018 – Revenue up 30% with Underlying EBITDA up 24% to £12.7m (FY 2017: £10.3m), Maiden Dividend proposed (0.8p).
Up 14% yesterday I hope this is good news for those on the inside. I still can’t get past Neutral myself.
5-Sep-2018 – 167.5p – £208.1m – PER 19.6
AGM Trading Update – On track to deliver FY market expectations.
Looking more attractive but I remain Neutral.
11-Jan-2019 – 35.5p – £44m – PER 6.6
Trading Update For The 6 Weeks To 5th January 2019 – Revenue up 8.4% (this is below expectations), margin down, challenging conditions. FY Revenue to be circa £133m (below current market expecations), Gross Margins down from 62% to 60.5%.
Even on a single digit PER I cannot find myself interested here at present.
7-Mar-2019 – 32p – £40m – PER 9.2
Trading Update – Things do not seem to be improving.
Still not cheap enough for me to take any more interest at the moment.
11-Apr-2019 – 17.4p – £21.6m – PER 5.8
Trading Update For The 12 Months To End March 2019 – Revenue up 12%, EBITDA to be circa £4.5m.
Looks OK but just too many if’s, but’s and maybe’s here for me.