Next (NXT LN, SELL, T/P 3700p) - First Black Friday participation and 70% price cuts negative
Next is running a Black Friday event for the first time today. This is fundamentally negative for two reasons – it highlights likely continuing weak sales performance since the 3Q IMS on 1st Nov 2017 and consequent forecast vulnerability and it is at least partly about the issues that Next has been encountering with clearing stock in its usual end-season Sales. This is fundamentally negative for its high margin model which supports its cash flow and capital re-patriation attractions.ASOS and its subsidiaries (together, the Group) is a global fashion retailer. The Group sells products across the world and has websites targeting the U.K., U.S., Australia, France, Germany, Spain, Italy and Russia. Co. creates and curates fashion, face + body products for every fashion-loving 20-something.
Whitman Howard is an independent institutional stockbroking and investment banking business focused on servicing the needs of our corporate clients and institutional investor base.
The company began trading in 2011 with a team of highly experienced market professionals and the goal of building a leading capital markets business in an entrepreneurial environment.
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