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STP - STEP ONE CLOTHING LIMITED


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In reply to: the saint on Tuesday 26/02/08 05:16pm

Hi The Saint - the market did like the results - up nearly 9% for the day with around 5X normal volume. If the bean counters work throught this the trend could continue tomorrow. The Stericorp money made the bottom line look very nice - now they have to work at keeping the margins in double digits and lift the EPS. Before the Stericycle debacle it traded just under .60 - a lot of placements under the bridge since then, but starting to show some of it potential promise.

 

R/Ross

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In reply to: the saint on Tuesday 26/02/08 04:16pm

Hi 'the saint'

Agree, its a good news story.

 

I would call the sharps business a niche commodity, So far it appears to be a price maker but I'm wondering where further margin growth will come from in that business segment.

 

I do see in the future the hospitals being more focussed on infection control , a -ve from the hospital cost point of view but a necessary focus as patient (client) hygiene is one of the arbiters of hospital efficiency. So there could be some volume growth in the amount of infection control materials in the short term.

 

I am also encouraged by the comments that the business is looking for additional ways to leverage their furnace assets........ into managing other toxic wastes eh?.

 

There might be fresh fields in the most unlikely area's and so depending on your political leaning I offer the following.....

Work choices desk pads, public transport efficiency certificates, troop movement requisitions to Iraq, those special dictionaries which dont have the word sorry in them and so on.

 

Come on all, I'm sure we can all think of some uses of this flaming furnace.

 

cheers all,

 

phoenix_1

 

 

 

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  • 2 months later...

In reply to: phoenix_1 on Tuesday 26/02/08 07:41pm

well it looks like a take off of sorts. hit 10 cents on low volume (at that price).

My source tells me that share consolidation and a dividend are on the cards for 08/09.

 

chart looks encouraging, but it has for some time now

 

Cheers

simon

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  • 4 months later...

In reply to: the saint on Tuesday 07/10/08 04:15pm

it will have to be a very healthy dividend if our share holding is divided by 20 http://www.sharescene.com/html/emoticons/unsure.gif , I feel management should be able to improve the share price without a consolidation of our shares, it is still very early days for this company thus far. http://www.sharescene.com/html/emoticons/wink.gif

post-16-1223973505.jpg

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  • 12 years later...

Step One Clothing Limited (STP) commences Trading on the ASX  
 
Highlights: 

  • Trading in shares of Step One commences on the ASX today at 11.00 AEDT following a successful IPO to raise $81.3 million
  •  Primary capital raise to support future growth including international expansion
  •  Brand owner and digitally native direct-to-consumer retailer, focused on innovative, high quality, organic, ethically produced, and sustainable innerwear 
  • Founder-led business with highly scalable model and strong growth track record

 
Step One Clothing Limited, a leading online, direct to consumer, innerwear brand, will commence trading on the Australian Securities Exchange (ASX) today at 11.00 AEDT under the ASX Ticker STP. The listing follows a successful fully underwritten initial public offering, raising $81.3 million at $1.53 per share.  Primary funds raised will be used to support the Company’s growth strategies, including growing Step One’s existing customer base in Australia and the UK, and investing in establishing a presence in the US.
 
Founded in 2017, Step One is focused on high quality, organic, ethically produced, and sustainable products in the innerwear category. Company growth strategy is focused around three pillars: strengthening brand equity, product development to specialise in the innerwear market, and continued international expansion. This growth strategy will come to fruition through the recent expansion into the US, and the broadening of its product range into the sports and womens underwear market.  
 
Step One operates within a large global industry with the potential to capture further market share globally. Research by Frost & Sullivan reveals the global underwear market is worth approximately $150 billion and growing, with a clear trend towards increasing online sales, linked to increased adoption of mobile technology, and 24/7 convenience.  
 
Founder and CEO Greg Taylor said an IPO reflects the best option to provide the funding needed to support Step One’s next stage of growth, and its vision of becoming an innovative and ethical global brand:

Quote

 I am very excited that today Step One has listed on the ASX. I created Step One to solve the problems of chafing, ride up and managing sweat. In addition to creating an innovative product, it is also made from organic and sustainable materials.  I am looking forward to continuing to build the Step One brand as we expand offshore

Quote

I am pleased with our year to date sales performance in the lead up to the November Black Friday Cyber Monday sales event. I am also pleased to confirm our US launch commenced as planned during October. Sales are being fulfilled from a third party logistics provider in the USA and initial results are consistent with our expectations.

...... and on Day One, STP opened strongly, at $2.70 and now trading around $2.50

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  • 6 months later...

and here is a definitive pathway to bun investor capital.  Now 21c, which is a long way down in a short time. More than a 90% loss!!

Quote

Step One now expects sales revenue growth to be 15 to 20%, compared to previous guidance of 21 to 25%. Expected proforma EBITDA is revised to between $7.0 & $8.5m from $15m. 

Profitability has recently been impacted by the following factors in addition to the revenue decrease:

  • USA is experiencing higher than expected Customer Acquisition Costs and will return a loss exceeding $3.0m in FY22
  • Marketing and advertising costs are higher than expected, in both the USA and UK, and will be approximately 46% of revenue due to increased digital marketing competition and lower than expected ROAS (Return on Ad Spend)
  • Factory to warehouse logistics costs have increased, with recent cost inflation linked to the sustained COVID 19 lockdown in China and the war in Ukraine
  • Gross profit margin for FY22 is expected to be closer to FY21 levels, despite recent increases in selling prices

 
 

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