Ellies issues loss warning

[Jan]

Ellies tanks on loss warning

Ellies share price tanked on Friday after issuing a warning to shareholders that it expects to report a headline loss of between 6.49 and 7.77 cents per share.

Last year the company reported headline earnings per share of 9.19 cents.

 

[GMAN03]

Feels like deja vu. They were circling the drain in late 2019 and then had a recent recovery. but sadly the inevitable may happen. Not sure how much market there is for rebranded Chinese goods when there are plenty of importers undercutting them.

 

[saor]

Ja nee, one of the kakkest shops out there imo. Disorganized, badly stocked, mission to pay.

 

[Petec]

First order of business should have been to fire the entire "marketing" staff. Then get the powers that be, to actually listen to the new blood.
Just like CNA, they pissed away their market share and retail footprint.

 

[Thor]

You'd think the Ellies Cube would have saved them, such good device.

 

[RudderVator]

You'd think the Ellies Cube would have saved them, such good device.

But how much does the non ellies branded cube cost directly from China?

 

[RonSwanson]

Considering the industry, this company ought to be showing a strong profit. But BEE.

 

[Sapphiron]

I am waiting for a brand like Ellies to collate the best Ewelink and Home Assistant compatible Smart devices and bring in a complete range of smart switches, motors, etc. Become the default choice for low cost home automation.

 

[TheChamp]

You'd think the Ellies Cube would have saved them, such good device.

It's not about the product, just like in car manufacturers, designing a good product is useless if you can't sell it. Their business model is just wrong.

 

[Johnatan56]

I am waiting for a brand like Ellies to collate the best Ewelink and Home Assistant compatible Smart devices and bring in a complete range of smart switches, motors, etc. Become the default choice for low cost home automation.

I'm kind of doubtful it would happen though, it will require quite a bit of investment and pivoting of the business. Also unsure of the market size in South Africa as you'd need more tech minded people or people who can afford to pay others to set it all up.