In terms of B2C via website I am no longer including any expectation in my valuations. The B2C ball appears to have been well and truly dropped from the announced daily revenue that got me excited, to the shutdown, and subsequent (premium) reopening of the store. If anyone is in any doubt over the effect of paying for shipping, note 67% of online retailers offer free shipping, and tbh, if I wasn't a registered ZNO fanboi, I would not have followed through with my order. Back to my point; I now see B2C as a nice addition if it happens, but it wont effect my target price unless announcement surprises in that area.
However... they have done an absolutely sterling job on B2B, where they excel. The growth here has been exceptional, and made up for all the shortfall I had previously projected from B2C (the 150k daily that is). I am going in to July announcement with a baseline expectation of $50 mill 19-20, a pro-rata run rate of $132m, with an annual 20% uplift thereafter. More than happy if the 20% uplift comes from B2C, AH...
ZNO Price at posting:
$3.03 Sentiment: Buy Disclosure: Held
