Jamie Murray
Zalando SE ADR
ZLNDY-OTC
TOP PICK
Oct 25, 2021
A European e commerce-focused apparel retailer. The last three years it pivoted to fulfillment. They help brands move on-line. The company is expanding aggressively into new markets and new products. The strategy is going to pay dividends in the next three years.
German online fashion retailer. Brands go onto their platform, and the shopper can shop in the one spot. Leadership position with data. A bit rich, so there could be some volatility. No dividend.
Leading European e-commerce apparel company. Building an online world department store, including fulfillment solutions and marketing services. Gross merchandise volumes grew over 26% over last 5 years; management expects over 20% growth over next 4 years. Target price of $50. No dividend.
(A Top Pick May 20/21, Down 63%) Revenue growth stalled. A German online retailer, focusing on high-end customers in Europe. Higher interest rates and the Russian war's impact on Germany hit. They remain the #1 German e-retailer. Remains a good stock.
(A Top Pick Oct 25/21, Down 66%) War in Ukraine, surging electricity costs, depreciation in Euro, low consumer confidence. Mismanaged inventory. He made a mistake in timing. Starting to tick back up. Company sees growth in back half of the year. Doing more service-based work, with higher margins. Growth could drive earnings a lot higher in 5-10 years.
(A Top Pick Oct 25/21, Down 75%) European eCommerce business that has been challenged with Ukraine tensions.
Shift away from eCommerce also affecting business.
Still owns shares in the company.
Believes there is a positive future for business in Europe.
Continues to take market share.
Moving into higher margins services (advertising etc.)
(A Top Pick Dec 15/21, Down 58%) Tech-ish, but really a leading e-commerce apparel company. Hard hit by Ukraine war, inflation, low European consumer confidence. Volume growth expectations taken down to 18% from 26%. He's reassessing its long-term prospects.