How Zoe Foster-Blake was able to buy back Go-To and save her millions
However, last week’s full-year guidance range had a midpoint of just $14 million – no higher than its semiannual figure. It’s a big year-over-year decline, but investor updates emphasize that flagship brand Sukin is still increasing sales by 24 percent to hit a three-year high. Sukin is thus unlikely to be a problem child. As such, Go-To may not yet achieve the $19 million revenue in financial year 2022 previously estimated in internal documents. The downgrade created some pressing problems for BWX’s balance sheet, and the $23 million upgrade felt rushed. While 50 percent discounts are not uncommon on Sukin products, their extension to the parent company’s share price is worrying. The stock was lowered by just 60¢ – no more than the price paid for the first half of the Go-To. Given that BWX paid dividends of about $4 million a year ago when its stock price was $5.31, this is an unfortunate “sell low, buy high” cash management strategy. But, the wea...