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clock Created with Sketch. 22/01/23
23:16
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Originally posted by natnicnak:
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agreed; now to take that a step further -It is clear the sector as a whole was hit by excess stock and heavy discounting (see Torrid’s quarterly announcements in the US where gross margins also came off 10%+ knocking their profitability in 2022 as well - Torrid has said it expected to have largely dealt with it in Q4 - raft of others like Target USA saying the same thing recent quarterly trading etc).
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from a valuation perspective, I'm leaning on P/B to guide. I don't expect much pop from flow metrics from this group for a few years. TO might pull pwd a SP lift otherwise looking for the balance sheet to stabilise .
(20min delay)