Top Tweets for #CCCSA

Yesterday, $CCC.WA held a press conference for selected investors and journalists, which was uploaded to YouTube today (https://t.co/QLL8derOAJ). We highly recommend watching it — because while the company resorts to profanity and boilerplate denials, they end up inadvertently confessing and confirming many of our findings. Key takeaways include: - Store expansion delays: #CCC admitted it is significantly behind on its store expansion targets, lowering its guidance from 350,000 sq m to 325,000 sq m. In Q3 alone, it will achieve only 66,000 sq m out of the planned 100,000 sq m. - Margin contradictions: The company now claims that the gross margin with MKRI is “significantly lower,” directly contradicting its earlier statements about the Worldbox franchise from Q3 2023 and Q4 2024 earnings calls. - Hidden financing of MKRI: CCC disclosed that PLN 360M in receivables are tied to the insolvent MKRI. The company is effectively financing MKRI through undisclosed loans disguised as “paid sponsorships.” They even stated that these receivables will disappear once MKRI is consolidated — a remarkable admission. - Possible Bill-and-Hold Arrangement: CCC stated in the conference call that inventory “sold” to Worldbox remains stored in a CCC-owned warehouse in Gdańsk, suggesting the existence of an undisclosed Bill-and-Hold arrangement. - Conflict of interest via Arca REO: From the beginning, CCC explicitly set up Arca REO through an “external” law firm — which is, in fact, owned by CCC Chairman Wiesław Oleś — giving CCC the option to take control of the entity at any time. - Operational control over MKRI: CCC employees hold Power of Attorney over MKRI, and the company admitted that it dictates all key areas such as product management and store design — critical levers for any fashion retailer. As stated in the conference: “Jest wiele, mają wiele rzeczy, które sami decydują jako firma MKRI, ale jeśli chodzi o sferę produktową, wystroju sklepu, no to jest narzucone przez franczyzodawcę, nie? Także mamy troszkę takie sytuacje, kiedy no w tych nowych sklepach Worldbox wykonują jakby nasze zalecenia, a w sklepach, których my chcemy przejąć, no to jest pełna wyłączność, nie?” - Gun-jumping admission: When directly questioned about the gun-jumping allegations, the CEO lost composure and blurted out: “Ale ten raport to jest bullshit, tam nic się nie trzyma prawdy...” (“That report is bullshit, nothing in it holds true...”) Any investor or regulator can read our report and then watch the YouTube conference to see $CCC.WA inadvertently confess — in their own words. Why did they confess? Because they were bragging — without realizing they were admitting to the very issues they sought to deny. In the closing minutes, the CEO even admitted he hadn’t read the full report.