Reply To: 50k Bonus Point Retention After 4 Months

[JDB]

The problems with Amex Platimum in the UK sound rather like those of Soho House analysed in this week’s short selling report:-

“With the influx of new members and increase in membership price, it appears
that cancellation rates have increased over the past year … On previous
conference calls, management has been quick to disclose its strong retention
figures near 95% in 2021 and 2022 … Even more concerning, since this disclosure of
reduced retention rates in Q4 2022, SHCO has removed numerical references of
retention rates in all earnings calls, releases, and presentations.”