After a disappointing start to its float, things are starting to pick up. Since the release of results in December, the shares have steadily increased from 147p to 161p.

The group has a strong and fast growing market share and should perform well.

i'm in was tipped in shares mag as good one to have for 2005 seems
to be getting going also trading stmnt due ?

i'm in was tipped in shares mag as good one to have for 2005 seems
to be getting going also trading stmnt due ?

I worked with them for many years in a supply side role. I did like the company. Only anecdotal and not an indication of value but I've found that companies I respect have a tendancy to do better over the long term than those I don't.

alright lads, i decided to buy in today i'd been pondering it for a while, i think jessops should advertise they're website a bit more it's pretty good seeing as though online sales are all the rage.

not sure why it fell today stmnt looks as expected ?


RNS Number:3690H Jessops plc 14 January 2005

14 January 2005



CHRISTMAS TRADING STATEMENT

Jessops plc, the UK's number one specialist photographic retailer, today announces its sales for the 5 and 13 weeks to 2 January 2005, together with additional information on trading in the first 8 weeks of the current financial year.


5 weeks to 13 weeks to 8 weeks to
2 Jan 05 2 Jan 05 28 Nov 04
% increase % increase % increase
Total sales + 10.4% + 9.4% + 8.5%
Store like for like sales + 4.5% + 5.3% + 6.0%*
Direct like for like sales + 46.2% + 26.7% + 14.2%
Total like for like sales + 6.2% + 6.4% + 6.6%
* previously announced on 8 December 2004


Despite generally tough trading conditions on the High Street throughout the Christmas trading period, Jessops' sales held up well and showed particularly strong demand for digital cameras. Total sales increased 10.4% over the 5 week period to 2 January 2005 and total like for like sales were up 6.2%. Sales of digital cameras through all channels increased by 25.7%.

Within the total like for like figure, store like for like sales increased 4.5% in the period. This partly reflects the strong demand for digital cameras and for digital developing & processing (D&P), but is offset by lower analogue processing bringing total D&P sales down 4.1%. This change in sales mix has inevitably had a short-term impact on gross margins over the period but this is not expected to affect the results for the year as a whole. Historically D&P sales have their trading peak over the Summer months (August & September) rather than over Christmas.

Jessops operates a complementary multi-channel retail strategy, which in addition to sales through the stores, includes direct sales through mail order, telesales and the internet. Direct sales showed strong seasonal growth in the 5 weeks to 2 January 2005 and were up 46.2% on a like for like basis. Over the 13 weeks to 2 January 2005, like for like direct sales were up 26.7%. Direct sales accounted for 5% of total sales in the year to 30 September 2004.

The company's store expansion programme has continued on track, with nine new stores opened since the start of the current financial year, bringing the total number of stores at 2 January 2005 to 271.

Derek Hine, Chief Executive, said:

"Despite a generally tough retail environment, our trading over Christmas held up well against some very strong growth comparators both last year and in 2003. While it remains early days, trading in the first three months has maintained the momentum of 2004, with continued evidence of the strong demand for digital products. We are committed to driving the business hard and believe that we can deliver a good outcome for the year as a whole."

For further information please contact:


Jessops plc 020 7357 9477 (AM on 14/01/05)
Derek Hine, Chief Executive 0116 232 6000 (Thereafter)


John Crabtree, Finance Director


Hogarth Partnership 020 7357 9477


James Longfield/Rachel Hirst/Vanessa Orr

Notes to Editors:

Jessops is the UK's number one specialist photographic retailer with 271 stores nationally. It also operates via the internet, through mail order and telesales and its business to business and wholesale operations.

Jessops sells a comprehensive range of digital and analogue cameras, digital and analogue camcorders, binoculars, darkroom and studio equipment, film and photo imaging materials, as well as an extensive range of accessories for the photo imaging market including "Jessops" own brand products. Jessops provides developing and printing and digital imaging services in-store, via the internet and by mail order.

The company differentiates itself from its competitors through the combination of its national store portfolio, its broad product range, its customer service ethos and the in-depth product knowledge of its staff.


This information is provided by RNS
The company news service from the London Stock Exchange

Recent IPO Jessops unveiled a great set of Christmas trading numbers and investors took profits - sending the share price down 6.25p to 157.5p. The group said that, despite generally tough trading conditions on the high street throughout the Christmas trading period, sales held up well and showed particularly strong demand for digital cameras. Total sales increased 10.4% over the 5 weeks to January 2nd and total like for like sales were up 6.2%. Sales of digital cameras through all channels increased by 25.7%, it added. Seymour Pierce was upbeat on the numbers but moved its stance on the shares to an "outperform" from "buy" after the shares current strong run. The broker said it now sees the upside limited to 10%.

Since the positive trading statement, the shares haven't performed too well.

seem to be going back in the right direction again can see 170p level tested this week ?

AGM on the 15th Feb.

Reaching new highs after reassuring comments at the AGM.

does anyone know why there was a 8.75% drop today?

Jessops plc
21 March 2005



21 March 2005





JESSOPS PLC

Trading Update


Having benefited from the positive momentum in the digital camera market during
the first three months of the current financial year and throughout the
Christmas trading period, Jessops has experienced difficult trading conditions
in February and March. The general slow-down in consumer spending has
particularly affected sales of digital cameras. Although in this period Jessops
has been successful in maintaining its share of the digital camera market, sales
have been considerably below management's expectations. Moreover, there has been
a secondary effect on margins as retailers have sought to drive up volumes
through price reductions.

As a consequence, the Board anticipates that store like-for-like sales growth in
the first half of the year ending 27 March 2005 will now be around +1%. The
similar slowdown in non like-for-like stores and other sales channels will
result in total sales growth of around +4.4% in the first half.

Like-for-like growth rates in the second half of the year are expected to
improve from this first half level as a result of new product launches and
increased penetration of digital SLRs. However, in this more challenging
trading environment, the Board believes it is prudent to revise its sales growth
and margin expectations for the second half. Therefore the outcome for the year
as a whole is likely to be significantly below its previous expectations and
below last year.

There will be an analysts' conference call at 8:15 am today, 21 March 2005.
Please contact Hogarth Partnership for details.

ENDS

Whats up with this,no film in the camera these days .

what a disaster! the thing is that is shop and develop films at JSP and have always been very impressed at the knowledge of the staff and the pleasant atmopsphere of no pressure selling.

i am shocked by the drop today and would probably place alot of the responsability on management...overextended network? underfunded? too ambitious?

anyway...the future now looks bleak

Staff are different now - doing a dixons - minimum wage - fewer skills

ok, just not ay my local one then. if that is the case then they have no chance...thx for that

Classic example of venture capital firm squeezing the last drop of 'efficiency' out of the system before floating - and only just got away with it by reducing the price at the last minute.

and shareholders are left holding the bag...

and Shares Magazine has egg on its face as this was one of their top tips for the year !

says it all...

The whole retail sector is under pressure not just Jessops ,people are being careful with their money.I found the staff in my local branch very helpful and well educated about products.
db66

Bloody hell 4 hours later and still no better for the sp!!

By now it should of pulled a few shorters in for a quick return.

Blimey, what has gone on here then other than a por February and March?

Glad I dont hold...............

And me sw,,,,and me.

Bloody digital,,,,,,,,,,,,,bring back 35mm.

best of al worlds. 35mm and a cd!

Its to easy that ??

you get the photos and a disk...great negatives and digital.

not a JSP holdert but it was on my grass roots watchlist...

Still some value in the sp i think.

Probably represents much better value at this price than before. It's a well known fact that most IPO's are there as exit strategies for the previous holders.

I think if you want to get back some of your losses you may want to look into other similar aligned businesses in the retail sector. They may also be forced to warn at some point.

It cant be long now before i grab a few,and tuck them away.

dave the squirrel..............

works though dont it?

There`s nothing wrong with squirreling,now were`s them dam nuts!

ask the wife.......

just like the SEY banter of old...

This may be of interest to you Jessop's holders. From Killik's morning note:

JESSOPS Trading update



Another new issue that has succumbed to a profit warning within its first full year of public ownership is Jessops. Today, they announce that trading in the first trading in February and March has been difficult particularly in the sale of digital cameras and sales with sales well below management expectations. Margins have also become tighter in this environment which implies Dixons has been competing hard on price. New product launches are expected to assist a return to growth in the second half.



Current expectations are for profits of around 20-21 million and this is being cut back to 15 million by Seymour Pierce, the broker this morning. This equates to earnings of 10p per share a 30% reduction and the shares have fallen 26% in opening trade to 114p.



Analysts are also casting an eye over Dixons this morning as an obvious downgrade candidate on similar worries.

Well i`am in jessops now,come on you know it makes sence . Time to get my arse down to the shop and have a look around,point them in the right direction.

Now whats on my wishlist!!!!!!!!!!!I KNOW ,a leica m7 or a hasselblad 501,,,more likley a lowepro camera bag,,,more like a samsonite,after all what can you get for 15 quid!!!!!

not a lot.

Come on get down to jessops


you know it makes sence ,i want a quick return..

I would love to help you out dave but as i bought my current digital camera from jessops this time last year, the mrs wont be too happy if i trade this one in and buy a better one.

I did read that shares mag tipped these as one to watch this year and did think about jumping in but bought HMY instead.

Accord,i belive its about pixels with them digital camera`s this years 3 million,,will be next years 6 million!!!!!!!

Where it going to end,in a profit i hope.

I bought mine in Argos
GUS up - JSP down
Says it all

Dont own these shares but had them on my watchlist. Not just Shares magazine that tipped them. i seem to recall only about 1-2 months ago they were getting tipped everywhere. Just goes to show never listen to the "experts." Seems to me this lot are in a very price competetive industry. Dont know much about digital cameras but if i was buying one I would probably go into Jessops, try every one in the shop, soak up the specialist sales advice then buy it off the net from whoever had the lowest price.

Sliding away again...

ouch.

Surprised to see it slips so much this morning. It did take them two attempts to get to the market. I think they may get taken out if the price slips too far.

Drop is overdone.

If I had time I would watch the birdy and buy at bottom, but I can not guarantee being around to see this one so I will have to watch now and then.

Smacks of the same dramatics with EZJ last year.

Wont be much more to go imo see what happens today and look tomorrow.

Afternoon,just got back from my local {not the pub} seems fine in store,helpful,knowledgeable,good product range,,,a small negative,,very cramped & tight for selling space {god knows how they will get on when there busy} or am i asking to much.
To me with the summer on the way its just a click away so come on and get your camera`s out,,,,,,,nice photo!


MD,when your out looking for new stores,,,,,,,,LOOK FOR BIGGER ,,square feet always helps.

Rent is stupid though in town centres. The high street is dying as a place to buy most products apart form clothes, coffee, cards and newspapers.

Agree with that,what insentive is there to come back in.

my local is on the finchley road and it is well stocked but also tiny.

true that summer should see a pickup in sales...otherwise...

high steet is just not well at the moment...what needs to happen is just smarten up areas to entice shoppers.

Its nice and clean in wales prop,if you just move the big issue sellers,,buskers,,traffic wardens,,badge collectors,,fly posters,,and the tramps ,,you can see the pavement then!

Just went in at just under 100p bid price - looks good value to me!
:>)

Roll on a take-over offer!!!!!!!!
:>)

I think i was a day early bunny !

Considering we are in a boom time for digital cameras this is not a good sign from jessops is it? People going elsewhere for their cameras?

internet, price comparison, ebay etc...

where JSP should market themselves is as the "knowledgable" seller...ie those who don't really understand digital cameras but want to buy one. that is why i would think John Lewis would do well in this market.

may buy soon but waiting at the moment

stockbunny
I'm with you got in today under 100p with the new SLR digital cameras getting cheaper and the new printers that can print with out a computer there are a lot more cameras and printers going to be sold leading up to the summer, and may also be a bid target. These shares are cheap.

My be even cheaper tomorrow!

Just a thought.

daves dazzlers
Hope so I will top up.

And me.

A 100 point fall on the dow tonight and you my see 90p,just a thought.

daves dazzlers
Have they got shops in the US I don't see the connection, I think we might see a bit of blue tomorrow.

Only 5 points lets see were we go today.

I think it will go down towards 80p

This is becoming a bag of nails,a 97 stoploss for me.

Director purchase of 50,000 annouced today. I haven't made an assesment on the company or valuation but have nipped in a bought some this morning.

And another of 25,000

Scrip

just run a very quick valuation of the company and a few concerns that i found

1) at flotation current debt was reduced from over 100m to 35m - why still maintain this high level of debt post-flotation as the servicing cost is still high in relation to the profit the company makes

2) asset value - the majority of their fixed assets is made up of intangibles and once stripped out the current asset value does not support the current share price

3) growing pension deficit

also looking at the broker forecast of profit of 15m (reduced from prior forecast of 21m), what level of profit is this referring to is - ie which side of exceptional costs and interest charges as i find it hard to believe they will have a clean pat of 15m

anyone else looked at the accounts for a true valuation?

will post more later when ive more time to look at in detail

Thanks, Hadn't thought of bouncing ideas with you. I guess I am so used to talking about horses and the like!!

I only have a token holding at the moment. I find it focuses the mind while you are researching.

My main area of concern is that this looks like a classic float from a private equity fund that has geared up the company and sought a quick sale. Will be having a closer look.

Fundy - thanks as always you are a mine of good analysis - cheers
and your points are indeed valid and worth keeping a close eye on.
:>)

I wouldn't buy in further, it appears stable at around 99p, but that
is solely the opinion of a bunny so DYOR!
Today's market is a horror and if it stands up today - possibility
of more of the same this afternoon as inflation in US not good according
to figs. - but if it can stand up at the 99p level or thereabouts
when so many are falling, and many by a lot more, it's doing OK.
:>)

bunny

i agree there may well be some upside from here - i just like to make sure that the valuation is fair and the balance sheet underpins the share price - am planning to look at this in more detail later

and you are right Fundy no doubt about that, at the end of the day
the figures have to add up, so you're right to put forward your thoughts
on the figures for them. Thanks again :>)

sd
Good point it is holding up well with these market conditions, definitely blue tomorrow if not today.

That would be nice, but don't be upset if the market is downbeat
until into next week - tomorrow is bound to be 'thin' on volumes
due to the holiday and people packing up early to get away. Next week
also may be thin on the trading front, bit like the summer holiday time.
:>)

sd
You know me I never get upset, did you see bos's comment about p/e hilarious.

Must have missed it - shame I like a good laugh!

stockbunny
Sorry stockbunny I'm getting my stockbunny's mixed up with my stockdog's over on seo.

According to a charting site;

"The last two candlesticks formed a Bullish Harami Pattern . This is a bullish reversal pattern that marks a potential change in trend but needs conformation."

Hopefully it will close up today and confirm this.

Thanks brian! :>)

I see KESA and TOPPS warned yesterday makes you believe that there must be some pressure on DXNS.

So many buys and the price hardly moves.

Shares mag have now excluded JSP from their tips of the year portfolio and report that JSP will not be the last retailer to issue a profits warning.

Shares mag got there timing wrong they should be tipping it from this point not excluding it.

In fairness, for years Jessops was really a 1-hour photo processor - so having a high-street presence was a good idea - the problem with photography "now" is that everyone is taking digital snaps and there is little real processing left. With Dixons and others having a small space devoted to cameras, they can compete with Jessops since most Buyers buy on price alone. Digital cameras are still changing quickly, so it would make sense to have a web-site dedicated to the buying of cameras IMHO - that way Jessops can offer a better deal. The problem is what pays the rent?
Secondhand camera gear is Bad News and most punters only want fuzzy pics of their children - so the "Amateur Photographer" is a minority.

I have to say I thought the 1.50 IPO was a bit steep, and am not surprised it's fallen - but it was somewhat soon and that surprised most folk, I guess.

Regards

From ADVFN

Three brokers have forecasts out in the last week;

..................................2005..................................... 2006
Broker,,,,,,,,,,,,,,, Date Rec Pre-tax EPS(p) DPS(p) Pre-tax EPS(p) DPS(p)
Panmure Gordon,,, 30-03-05 HOLD 14.78 9.77 2.80 17.55 11.60 3.20
Baird,,,,,,,,,,,, 04-04-05 NEUT 14.60 9.59 3.30 16.90 11.19 3.80
KBC Peel Hunt Ltd 04-04-05 HOLD 14.53 9.47 2.10 16.94 11.04 2.45

Presumably they've both had guidance from the company and time to do follow up research after the results.

Seem damn cheap if they are correct!

The RSI is also on the floor at almost 0 - and below 20 is often a good time to buy.

I'm not convinced, sorry guys. Digital-Retail is almost all price-driven and these cameras are commodities - (being brand names we all know) - so "what" is Jessops USP?
Why would you go there in preference to Dixons or some web-based supplier that specialises in photo-gear? I suspect you will look at price alone.

The JSP sp dropped to 100p and then Directors bough a few shares (not above my 50k "significant" level) and the sp has drifted a further 20% - investors know that Retail is missing out - and the new must-have isn't a digital camera - it's a camera-phone and these are largely sold by Networks Own shops (so the Punter has no real choice of on going costs).

It would be nice to think JSP can keep alive the traditions of photography - but I doubt they can be inventive enough to pull it off. Will the sp touch sub 60p? The FTSE isn't too strong and sadly, that affects all stocks. IMHO.

what level do these becoming interesting?

proptrade
Don't know may be 40p I got out at 99p at a small lose, but I have got my eye on them still.

Still got my 3 shillings and sixpence in there, even hopeful!
:>)

yup, bit of a falling knife right now.

Come straight to the point proptrade
;>)

(sorry in silly mood)

it is one of those afternoons...

:>)

Quite a range of thoughts on figures and possible sp levels - but no-on seems to be willing to look me in the eye and say what is JSP's USP - just why will future generations of buyers walk into the Jessop High-Street shops?
It's much the same problem Dixons has IMHO - the goods they sell are commodities and the shop offers little in respect of "Service" - it being usually better to deal with the manufacturer (or throw product away!) for all the "service " you get.(My perception).
I realise this is harsh, and I'd like JSP to succeed, however, it's not hope that will do it - it's having that "something" that makes people make that trip (when the easier option is to stay at home).
Furthermore, the whole nature of Digital cameras is that they rapidly become dead stock; when the next "must-have" feature comes out.
Personally I'm holding off (buying a digital camera), until the big Foveon chip comes out and then all my Nikon gear can be used with a "new" body. That's a way to "save" money as I already have the (lens) hardware. You need 12Mpix to equal 35mm negatives and big Foveon is expected (2006),to top 16Mpix, so should be equal to transparancies....yipee no dust.
/
So, where's their USP?

They dont have a USP.

Just got back in to photography,hope the pictures are excellent over christmas..

Had the pictures developed and guess what +8,its a nice feeling when the colours come up true.

Its worth having a punt on these after todays news.

They looka bargain to me especially when you consider the price they floated at just over 12 months ago.

Jessops enjoys strong Christmas

MoneyAM

Jessops, a specialist photographic retailer, said it enjoyed strong trading over the Christmas period.

THis was helped by higher digital camera sales.

Total sales for the five weeks to January 1st jumped 13.3%, while total like-for-like sales rose 9.4%.

For the 13 weeks to January 1st, total sales grew 8.2% and total like-for-like sales climbed 2.3%. However, first-quarter gross margins, although up on last year, were 'marginally below' its expectations.

A combination of exclusive camera deals and competitive pricing on market leading cameras were the key factors behind Jessops' strong sales performance, it said.

'Trading was particularly buoyant in the week either side of Christmas,' said CEO, Derek Hine. 'Despite this positive performance, it is still early days in our financial year and Christmas is not as significant for us as for some other retailers.

'With nine months trading still to come, we are mindful of last year's market conditions, although this strong start to the year does underpin confidence in our prospects for the year as a whole,' he added.

cheers GF.

This was my first proper trade in the world of buying shares back in January 2005.
I paid 1.58 back then so with todays good news maybe it won`t be long before i recoup my losses.
I have got to say i`m really surprised at how good the sales have been considering all the doom and gloom being broadcast about the retail sector.I think the company under played their prospects in the last trading statement which i think is a good thing and has given us a nice surprise a bit like Amstrad really.

dough
I hope you topped up at 75p

I wish,topping up doesn`t seem to work that well for me normally although i did use my xmas bonus to top up with some more Character Group so maybe my luck is changing.

dough
I think you will do well there with todays announcement from CCT.

DB, you deserve the luck and I hope you get it.

To be able to buy at less than the FLOAT price is a real bonus especially when institutions have had first call.

Not many times when that happens.

Winnies buddy the top retail expert is a big fan of these, watch out for them roaring on.

cheeers GF.

Lifted from another board Nick Bubb the retail Analyst as Jessops as one of his 3 tips for the year.........

"Nick: So it's down at 80p and languishing on a PE of 8 even though it is a reasonably good business in a growth market, in digital cameras, where there's another market developing in the form of digital processing which they hope to exploit both in store and online and it's hard to know why the market hates it but I just sense that something will happen. Either trading will improve and investors will recognise that - or private equity. Probably a different private equity fund from the one who bought it before, or owned it before, will come in and I think at this level there's a lot of upside." ENDS.

Sounds very promosing.

cheers GF.

KBC PeelHunt Brokers reiterated their BUY recommendation on this one today.......

Jessops (JSP) Positive Q1 Trading Update FCAST: No Change, REC: BUY

Positive Q1 trading update. The 5-weeks to 1st Jan 06 saw Store LFL sales growth of +5.7% with a
corresponding 74.3% uplift in internet sales (albeit of a small base), a significant improvement over last year.
Q1 (13-weeks to 01 Jan 06) presents a more realistic picture of the underlying pattern of trade with store LFL
growth of +1.1% and internet sales up 51.5%. This is marginally ahead of our own estimate albeit this has not
been achieved without a small shortfall in gross margins though these remain ahead of last year. The most
encouraging news flow from the company for some time, a PER at 8.7x declining to 7.9x suggests further
downgrades which we do not believe is necessarily the case. Estimates unchanged at this stage
recommendation moved from a Hold to a Buy given more positive start to the year and relative discount to the
sector (PER: c15x).

cheers GF.

And we have more supporters of JSP, from last nights Groth Company Investor.

Jessops - BUY
Companies: JSP
09/01/2006

Like-for-like sales at specialist photographic retailer Jessops improved 9.4% over the five weeks to 1 January, with like-for-like sales from its website zooming up an astounding 74.3%.

Growth this year, even surpassing strong comparables from 2004, was driven by increased digital camera sales and Jessops gains seem to have arisen because of its early focus on digital photography, resulting in its strong links with manufacturers and a credible high street reputation. In order to compensate for difficult market conditions in 2005 Jessops established exclusive deals on some camera models, of which 16 were run over the festive period. These proved to be very successful, leading to the strategy being continued into 2006.

Jessops other price-led promotions over the Christmas period meant in-store products were competitive even with internet rivals and, although obviously lower-margin than normal pricing structures, are expected to stimulate increased return custom, particularly for photo development, which has much higher margins than hardware sales.

February was the period last year when sales collapsed and its possible that, post Christmas gift-giving, the latent demand for hardware has been soaked up. But, well behind that of analogue cameras, the current 50% household penetration of digital cameras still offers plenty of opportunity and Jessops has one of the leading processing offerings.

Results for the year to September 2005, released in November, showed pre-tax profits up 354% on the previous year to 5.9m on sales up 2.6%. For the full year 2006, brokers forecast 16.5m profits and earnings per share of 11p. The forecast p/e of 9.4 is not demanding. Buy.

Oliver Haill
Market cap: 105.92m
PE Forecast: 9.4
Share price: 103p


cheers GF.

Off to a fair start.

cheers Gf.

Thanks for the posts Goldfinger it all seems very positive,the start of 2006 has been good to me so far as investing is concerned ,long may it continue!

Glad to hear that DB. Heres a bit more Hype for Jessops...........

The Times January 10, 2006

Jessops presents rosier picture
By Elizabeth Judge



DEMAND for digital cameras has helped Jessops, the photographic retailer, to shrug off difficult trading conditions and fears about the threat from mobile camera phones.
The company, which reported a surge in internet sales, recorded an increase in like-for-like sales over the five weeks to January 1 of 9.4 per cent. Total sales were up by 13.3 per cent.



Jessops said that the growth, which will further encourage optimism before an intensive week of results for the retail sector, was driven by continued strong demand for digital cameras. Sales of the cameras were up 23 per cent on the same time last year, while sales of high-ticket single-lens reflex (SLR) digital cameras costing between 300 and 1,000 were up by a dramatic 93 per cent.

The retailer, which has 285 stores and plans to open a further 15 or 16 this financial year, said that its decision to promote a number of cameras offered under exclusive deals with manufacturers had helped to woo customers away from rivals.

The company also saw a large jump in sales over the internet. Within the total like-for-like increase, sales over the net and by direct mail jumped 74.3 per cent, compared with a 5.7 per cent rise in in-store sales.

Though the growth over December came at the expense of some fall in gross margin for the financial years first quarter which was marginally below Jessopss expectations analysts welcomed the groups performance and the shares closed up 6p to 103p.

Rhys Williams, an analyst with Seymour Pierce, said: Overall, this is a solid performance and gives us confidence for the group for the remainder of the year.

He said that although Christmas traditionally is less important for Jessops than the summer, the figures gave a good indicator of where sales were going and left the group strongly positioned for the months ahead.

In December Jessops reported a 1.2 per cent drop in like-for-like sales during October and November.

Chris Langley, chief operating officer of Jessops, accepted that the figures were a welcome respite from a difficult trading year, but said that it was still early days in the companys financial year, which started in October. Mr Langley said: The retail market is still quite volatile.

The group is also about to enter the traditionally difficult spring period, which last year saw a sharp drop-off in sales.

Last year Jessops, which floated in 2004, prompted fears that it was unable to cope with the consumer slowdown and competition from camera phones when it issued a profit warning. Underlying profits declined in the companys last financial year. Although digital cameras in British households have reached only 50 per cent penetration, Jessops has to compete not only with traditional rivals, such as Dixons and other photographic retailers, but with supermarkets. Furthermore, camera phones have presented a new challenge. Jessops said, however, that it was encouraged not only by the rise in sales of digital cameras, but by a move by existing owners to upgrade from their original digital cameras.

SNAPPED UP

Annual digital camera sales more than doubled between 2002 and 2005, to 70 million units globally
Sales will reach 92 million units in 2009
Digital camera penetration is about 50 per cent in the UK
Europe is the largest market, ahead of the United States and Japan

cheers GF.

A nice move up already this morning.

cheers GF.

And more Newspaper coverage from the telegraph. Its worth noting that 4 brokers have this as a STRONG BUY and 1 broker as it as a BUY.

Jessops clicks with demand for digital
By Caroline Muspratt (Filed: 10/01/2006)


Camera and photographic products retailer Jessops has reported strong growth in Christmas sales as digital cameras again proved popular gifts.



The chain negotiated exclusive deals with manufacturers where it was the only retailer to carry a particular camera in a certain colour, or was able to offer some new models two weeks ahead of rivals.

Sales across the company have been gathering momentum, up 13.3pc in the five weeks to January 1 after an 8.2pc rise in the 13 weeks to January 1 and a 3.1pc rise in the eight weeks to November 27.

Same store sales rose 5.7pc in the five weeks to January 1 while internet sales, which account for around 10pc of total business, jumped 74.3pc.

Derek Hine, chief executive, said: "It is a good outcome given that we were up against some pretty strong comparators from a good Christmas for Jessops the previous year.

"Trading was particularly buoyant in the week either side of Christmas."

However, Mr Hine added: "With nine months' trading still to come, we are mindful of last year's market conditions, although this strong start to the year does underpin confidence in our prospects for the year as a whole."

Jessops said that the growth was driven by an uplift in sales of digital cameras, which grew 23pc, with sales of digital SLRs up by 92.8pc.

It said a combination of exclusive deals and competitive pricing were key factors in the strong sales performance.

The company added that gross margins in the first quarter were "marginally below our expectations" but they were still ahead of last year.

The shares rose 6 to 103p.

cheers GF.

Blimey this one takes some moving. Not sure if thre is an overhang in the market but buys have been far higher today as they were yesterday.

cheers GF.

Off to a positive start.

cheers GF.

GF
Have you had a look at CCT sales up 60% with a very low M/Cap.

Will have a look Driver thanks for that.

cheers GF.

http://moneyam.uk-wire.com/cgi-bin/articles/200601120941538268W.html

Nice to see a Director Buying and putting his faith behind the company.

cheers GF.

Trading update set for release on Thursday 19th January. Fingers crossed!

Got these on my watch list cant believe they are still under 100p.

Quite dissappointing they`ve dropped below a 1, IMHO it`s unjustified based on the recent performance of the company.

Nice to see this one heading in the right direction. Im hoping stale bulls have finally unloaded their stock.

cheers GF.

Looking like this could be the start of it`s next leg upwards.

Indeed Dandu. Lets hope we dont get the late selling.

cheers GF.

Jessops confident about FY prospects; to roll-out new store format
AFX


LONDON (AFX) - Photographic retailer Jessops PLC said it is confident about its prospects for the year ahead after a strong start, although it repeated its previous qualifications that Christmas is not its key period and the broader retail environment remains difficult.

The group also said it would be spending an additional 5 mln stg during 2006 rolling out its new store format to up to 200 more stores, after trials proved successful.

However, it added it does not expect these format changes to impact profits in the current financial year due to the short-term disruption that will accompany the roll-out programme.

newsdesk@afxnews.com

tc


cheers GF.

Looks like we still have stale bulls holding this one back, but never mind patience is required.......

Jessops buys 3 stores from That Camera Place for 75,000 stg
AFX


LONDON (AFX) - Specialist photographic retailer Jessops PLC said it has bought three camera stores from Midlands-based company That Camera Place Limited for 75,000 stg plus the value of stock on completion.

The three stores - situated in Abingdon, Bicester and Evesham - will undergo a refit to the new spacemix standard and bring the total number of Jessops stores to 288, it said.



newsdesk@afxnews.com

vjt

cheers GF.

A move back upto the 100 level, fingers crossed we go on from here.

cheers GF.

Is this the day we finally break out?.

cheers GF.

Looks like it, Yipee.

cheers GF.

Nice spot Goldfinger. This has been on my radar for some time, but I haven't had any free resources to partake. The last three days should have been evry profitable for you.

Continues to rise despite the poor market conditions prevailing at the moment.

Cheers for the comment PL.

GF.

Seems to be stuck at the moment.

cheers GF.

I'm hoping for a close of that very large gap upside looks to be 3x downside as strong support around 100p now. Could go either way depending on trading statement due next week: 30th March I believe. Anything else worth following GF?

positive enough statement today. will they close that gap? some resistance at 115/6 to get over and we should be off and running all the way to 150+. IMHO,DYOR etc!

I agree bonfield. Heres the statement...

Jessops sees H1 profit in line; CEO Hine to retire UPDATE
AFX


(Adds IFRS adjustment for yr to Sept profit)

LONDON (AFX) - Photographic retailer Jessops PLC said its first half profits will be in line with expectations, and said its chief executive Derek Hine is to retire.

In a pre-close trading statement ahead of its first half results announcement on May 17, Jessops said Hine will be succeeded by Chris Langley, currently chief operating officer from that date.

Jessops said profit for the six months to April 2 will be in line with its expectations.

It said trading over the Christmas period was 'strong', with sales for the five weeks to Jan 1 up 13.3 pct overall and up 9.4 pct on a like-for-like basis.

Since then, it said it has 'performed in line with its plan, in what remains a tough retail environment'.

Total sales for the 25 weeks to Mar 26 were up 6.5 pct, with like for like sales up 2.6 pct.

Store sales actually fell on a like for like basis by 0.2 pct in the 25 weeks to Mar 26, with the decline in the 13 weeks to Mar 26 widening to 2.2 pct. The company attributed this to Easter falling outside the period this year.

Gross margins during the period improved by approximately one percentage point compared with the first half of 2005, as a result of further exclusive merchandise deals and the continued focus on higher margin developing and printing and own brand accessories, it said.

Direct like for like sales increased by 51.0 pct during the six month period.

Jessops said digital camera sales in the first half were up 15 pct by value, with digital SLR camera sales up 52 pct by value.

Jessops also detailed the impact moving to the new IFRS accounting standard would have had on its year to Sept results. Jessops said pretax profit would be 9.9 mln stg under IFRS, compared with the UK GAAP figure of 5.9 mln reported. The difference stems chiefly from changes to the treatment of goodwill amortisation.





newsdesk@afxnews.com

ra/jm



cheers GF.

looking good today, had a broker's rec, Cazenove I believe.

and we're off! 150+ in a matter of weeks i reckon. Watch this space......

Really breaking out now. Just shows patience pays off... NICE.

cheers GF.

Yes GF slowly but surely i`m recouping my losses.
DB66

When did you buy them DB ?.

Im on paper 25% up since buying them.

cheers GF.

Jan 2005 paid 1.58 ! oh well i`m sure i will get my money back in the near future.

Good call GF i did think about buying some more when you got in but didn`t didn`t have the courage of my convictions .
Have you noticed TMN today one of your old picks,i do flag it up sometimes as i think it is worth a mention although internet stocks are one hell of a gamble due to lack of assets .
Cheers DB66

I think 150p is on the cards medium term DB but were still getting some resistance from stale bulls.

holding up heroically in this panicky market. All hopes rest on tomorrow's Interims. Better be an up day...

As soon as I heard Jessops were going to float about 2 years ago, I knew it was a dog. Their shops were filled with no hoper staff. Can't see them surviving the next 2 to 3 years without much blood on the carpet.

well that's a relief, onwards and upwards :--).

Yup a solid set of results....

Jessops reports solid first half
MoneyAM
Jessops reported a solid first half performance with total sales up 10.4% and earnings before interest and tax (EBIT) rising 15.2%.

The company said total sales were 178m, up from 161m in the same period last year, while like-for-like sales rose 2.3%. Direct like-for-like sales from the internet and mail order jumped 51.9%.

Jessops said EBIT rose to 6.5m while pretax profit excluding one-off costs were up 52% at 5.1m from 3.3m last year. The company proposed an interim dividend of 0.75p per share, up 7.1% on last time.

The company said current trading is in line with expectations and despite an expected tough retail environment, it believes Jessops is on track to meet its expectations for the year.

They had better close their high st retail operation if they want to see more growth.

Wrong thread.

Right one now.......

What The Brokers Say

Strong Buy 5
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 5

If the brokers are saying buy, then they must be holding stock they want to dump. So its still a big sell.

......

get a life toby.

Hes not Henry Matisee is he from advfn????????????????????.

Jessops appoints Robin Whitbread as commercial director
AFX


LONDON (AFX) - Jessops PLC, the photographic retailer, said Robin Whitbread, currently a non-executive director, is to take up the position of commercial director with effect from July 3.

Whitbread, a former J Sainsbury PLC and Somerfield executive, will be responsible for day to day commercial operations, including stores, buying, marketing and developing and printing (D&P).

Jessops said Whitbread will remain on the board but has stepped down from his position as chairman of the remuneration committee. A new non-executive director will now be sought.



newsdesk@afxnews.com

jdd/slm

Strength coming back here, glad I kept my nerve.

Looks like its going on a run from here despite other retailers having a bad summer JSP as done this business I here.

Forward P/E of a miserly 9.8 and PEG of 0.8 to end sept 2007.

Derd cheap.

Jessops plc
08 September 2006


8 September 2006

Jessops plc

Notification of Pre-Close Trading Update & Preliminary Results

Jessops will be announcing its Pre-Close Trading Update on
Friday 29 September 2006. Preliminary results for the year
ended 30 September 2006 will be announced on 30 November 2006.

Breaking out.

Continuing its move upwards.

And still further up we go.

Looking good at the moment.

Ticking upwards.

Lookingto recover from some fairly bland remarks on results day. Personally I thought they were in line.

Moving up nicely this morning.

And again.

Moving up nicely. Got to get past 131p.

Im told by my chartist buddies a break above 131p is significant, lets hope and see.

Doing well this afternoon.

Nice and steady as she goes.

Up she goes again.

Onwards and upwards.

Sp recovering after the last cautious RNS.

Going very well now.

Continues to break upwards, now a 50% return on this and its a retailer.

Still very cheap, trades on a forward P/E of just 12.1 and a PEG of 1 to end of sept 2007.

Profit warning, thats me out for a 27% gain.

Cant see this one recovering this year after todays statement.

Must be good news for Canon though if they can't churn them out fast enough anyone knows who owns them and where they are listed?

Another PW...oh dear, - yet I can't say I'm surprised - a bit of competition from just about everywhere sure hits their bottom line.
Indeed I'm surprised anyone thinks this is a good business to invest in.
-When was the last time you paid full-price for any photo-gear?
Yet JSP are charging silly proices for SD Memory - about 38/1G I think....and I got some Kingston (Lifetime g'tee) for 12 locally.

Jessops prices are too expensive...their cameras can cost 3 times more than other internet sites...no wonder profit warnings hit them again and again...SELL down to 50p.

I don't find it is so much their cameras, though I do live in Guernsey where the VAT is taken off, but their ancillaries that are extortionate such as memory cards filters tripods flashguns. 7 day shop is much better value for them

It is no wonder that when Jessops float in October, 2004 at 150p per share, its value has hardly stayed above that value.

Disappointing sp I was in these briefly, I like what they sell and their shops but it looks a bit grim at the moment.

jessops have been here b4 only worry is the bank overdraft ??????????

hlyeo98 - it seem yr 50p suggestion has come early! (nearly there).
Given that most of recent posters have been saying the JSP bits are too expensive JSP has two options IMHO:-
1) Drop all but flagship shops (saves rent and wages) and
2) provide a customer-based web-offering which can be more dynamic on price etc...and could allow them to branch into PC's perhaps as the new wave of free-software hits traaditional PC suppliers who are tied to Microsoft.
[I think Google and Linux together will soon make expensive software a thing of the past - we shall have only a browser on a PC saving HDD storage and Memory - so soon a pc on the move can be solid-state - you save yr files at Google. If Vista is mis-handled it could be the boost Google needs if they can write a basic Operating system - I don't think it needs to be as complicated as full-Linux, although that platform is "free", it still uses too much memory and HDD space....By cutting out the HDD and reducing memory (and boosting the graphoics card) most users will find only benefits. Encryption would be offered to prevent loss of sensitive data... The consequences for the PC industry will be dire so sell: Microsoft, Dell, HP (other than printer-sales etc.)...]

Driver: - I agree the shops/staff are OK - but what does the future hold ...can JSP ever charge profitable-prices, when the likes of Dixons has thrown in the towel?

I rest my case; but I didn't think the slide would be this quick...today there are many small Buys - I suppose these are punters averaging down - a tad too soon, I fear. Nevertheless, good luck.

this is such a disappointing share. One would expect with a competitior like Dixons throwing in the towel, they'd be getting more business not less!.

I got shaken out lof these last year in May at about 109 havign ridden them up from the 70s but banked a respectable profit. Was cussing when it went to 150 ish. Tempted back in at these levels, could be tempting for the private equity boys. I reckon a bid around 75p could be on based on cashflow, enterprise value etc. BWTFDIK?

In at 53.5 what the hell.

Going Down

A lot of buys at this price.

Noticed on passing their store today they have a half price sale on memory cards, which makes them priced to the competition. I find their staff generally knowledgeable and helpful but this attentiveness can lead to other customers waiting excessive times. It looks like they are oversold now. Have not done the sums but there must be appoint when they become below the NAV if not already and therefore very undervalued.

Memory cards are a quarter of the price on ebay I paid 25 for a 4g for my phone they should be about 70 it's the same for camera cards as well, memory cards are not going to save Jessops

http://photography.search.ebay.co.uk/memory-cards_Digital-Camera-Memory-Cards_W0QQfromZR34QQsacatZ18871

It's possible that the improvement in phone cameras has improved to the extent that a point and shoot digital camera is no longer worthwhile. Jessops does have an established internet business though so it can quickly change prices. I think its new printing service of uploading from home to their system and getting t shirts, calenders and mugs made is quite good especially when you can pick up the items from the most convenient store. I have just bought 10,000 at 54.5 and hope ihave grabbed a knife that's landed rather than one that is still falling...

Falcothou
I agree I think they are good value at that price, should bounce tomorrow, good luck.

to put this into perspective they floated at 160p
I think they will fall further and worried about them going pop so this is high risk..

Not sure about going pop? -this is a business that was very strong in the "photographic days" - now with digital cameras, JSP didn't realise it was about to explode (and prices imploded!) - this combination's been their downfall, IMHO.
I have bought some as a punt at 52.95 - must be near the bottom- the stock is oversold.
The next question is what are they good at?
=With shops they are able to push specific brands and this should be used as a lever....also they have excellent D&P facilities and for some years (before I went digital), I would get them to scan a film to CD - so I was getting experience in Software editing long before the digital camera was bought.

I think they should do photography/video courses (for customers) and maybe Competitions....very cheap to operate and prize photos go on their website with the possibility of selling-on.
There is no doubt that prints from Jessops are a lot better than injet prints done at home (although slightly more inconvenient, but for some folks planning to shop nearby - it's no inconvenience).
+JSP has a good turnover, despite the current figures and profit margins are not all that bad. I suspect that at sub-50p they are a Bargain...currently about 1/2p more than I paid, I'm happy to hold at least until they declare their hand - will that make things worse?...I doubt it. They still have a fantastic brand and good staff.
The news (here) about memory is "good" - I imagine they weren't selling too many at the full price, whatever the "qulity aspect".
If I make a few-hundred out of the bounce, that will pay for a decent SLR =from JSP of course; as I don't trust on-line stores, other than High-Street names...and prefer to see 'my' camer working, before handing over the money....
_Will they reach 40p? - - - it's possible and we've heard little from the Company - but Markets usually 'over-react' and that's the basis of my Punt.
Good luck.

Pretty ,much agree with your comments hangon. I have been talking to a few punters re Jessops today. One had a video recorder that expired out of ~Warranty. jessops helped with getting it repaired foc despite this, try that with an on line firm. Another who teaches photography got a D200 with tidy lens from them for 800 it was a return (bargain). I had a memory card that became unwriteable after the camera switched off and jessops helped re-format it. I bought a pentax optio a while back from pixmania which gave the best internet price at the time, this came with a French manual which is really bad news as to get the best out of even a simple camera like this you need a manual. They also bombarded me with e-mails about special offers and refused to reply to an email for another manual. You also run the risk of paying by card on line SLR's are of course even more complex and it is handy to be able to drop in on a shop for queries. I find my printer at home very unreliable in terms of producing good prints and so a lab with a printer that uses a superior one is an option.
I think they have expanded too fast and in Oxford for example they have 2 shops in the city centre which is wasteful imho. The helpfulness of the staff can cause problems with slow service but the automated processing machines help reduce this.
I expect a lot of stop losses have been triggered that have knocked the sp. as well as the market crash. The knife seems to have stuck in something for the time being

Hi,well this has seen better days what a drop off,must be some other mugs about bar than me,,bought today.

They could make cost savings by re-locating their lab and distribution centre offshore e.g. Guernsey. From there they could sell prints/ accessories under 18 vat free. This is what 7 day shop and its subsidiary Photobox (privately owned) do, and they make a killing

Hi Falcothou. I visited my Local JSP and saw the Mem reductions but not enough to buy more ( have another 1G that barely used). What I do need is a spare battery for that day when the original croaks, but I shall put this off a while.
Not sure that off-shore/distant printing helps - they have a good hook with 1-hour photos and need to compete with ASDA et al.....and JSP quality is Good. Also it draws yu into the sales area....I suspect any marginal saving would be countered by the loss of passing trade...or did u mean internet-based processing?
Also there is delivery cost and even for c20-worth of prints handling is quite a lot...and I like to collect my prints, so ensure they don't become "lost" or damaged should it rain the day the Postie delivers. What would they replace the print-counter with?
So what did you think about the Courses idea?

Back to sp....this is a disaster for anyone that thought 1.60-ish was right..... can't say I was ever impressed (at that price, as OXB was only 30p - now abt 50p).
I have some misgivings at 52p.....but at least we have seen 1.50 only a few weeks ago; so this has to be excessive selling, probably by those who are being burnt right now.
Will it rise to 1plus? There is no reason it shouldn't recover...(this PW was caused by lack of one camera-Stock)....and with some Exec. clean sweeps we could see recovery close to floatation. However, I think that price was optimistic given the state of the business and the Market was looking at Energy and Oil in particular...shifting surplus cash into the likes of BP.
I'm wondering if the video-in-phones won't affect them also - that they offer a range of phones is good - very good.
However, there is no reason why JSP cannot offer web-based processing, so perhaps you should sugest they look into it? It all adds to turnover and intially they could share the work amongst their retail outlets (at no cost)...gradually developing an appropriate-size works later.

Hi Hang on the competition and courses thing is a good idea and a way to keep loyalty and move on surplus stock. A combo of internet offshore processing and in shop processing would provide a good service and save cash. Will be interesting to see how the management adapt

Quick intake of breath could be worse.

Check out the chart after The Sept 2005 advice The Telegraph gave. How can anyone take them seriously after that. Glad I did not short then. They have probably been waiting for 18months to say I told you so

The Telegraph reiterates keep selling on Sunday...

Jessops stays out of focus

In September 2005 we suggested that readers sell shares in Jessops (53.25p), the camera retailer, when they were trading at 82.5p. The company had floated just one year earlier at 155p.

At the time we said that the depressed share price indicated that investors were anticipating further profit warnings, much to the chagrin of the company.

Last week the company issued such a warning, blaming poor trading and increasing margin pressure since the turn of the year.

The company said that pre-tax profit for the year ending in September would only be 6.5m, compared with 17m last year. "Investors will despair of the management, given the history of disappointment," says Nick Bubb, retail analyst at Pali International.

Jessops said that digital compact sales are down by almost 11 per cent, memory cards are down by 14 per cent and camcorders are down by 17 per cent.

Total like-for-like sales are down by 3.4 per cent in the last seven weeks.

Analysts believe Jessops's problems are two-fold. Firstly, the retailer has reduced prices, and therefore margins, to drive sales. Will this work?

Secondly, some analysts have questioned the size of the company's store estate given its obvious trading woes.

We reiterate our advice to bring the shutter down on Jessops. Keep selling.

looks like good advice to me, though not sure i would open a fresh short at this juncture as sp has already been hammered due to forced sales etc ...... however, may well be worth watching in the event of a decent bounce

As Falcothou suggests, this business needs some minor changes to capitalise on its Presence and Brand image (ie professional). The question is; will mangement react? If they do nothing (or tinker only at the edges) then I think we could see a further lowering of SP. However, the Market is paused for now - 50p being the magic limit - i.e. awaiting some evidence, either way.

I have bought at this level and hope Management will change, PDQ.
It is a pity that the AGM was only weeks before the PW....a tad careless and I suspect we may see a cull where there finger of blame points....Finance and Sales execs batch-it!

Don't let's forget that many people have bought their first digital-camera/camcorder, so their need to buy is increasinly difficult...that's why having "Customer services" is an essential part of their business and Very Cheap Promotion (compared with advertising in the National Press)....I suspect most people know "Jessops" - now Management just need to ensure they visit once every-so-often, to keep p-to-date etc. etc.

could you not find some quality recently-whacked share to buy instead oif this flakey bunch?

I think they could make money by collaborating with mobile phone companies. Ie by printing images that people have on their phones uploaded by 3G, or have a certain number of free prints with every month's contract.

does one care? ..... my money would not go anywhere near them

Most people like printed images...and there are few who can print at home in anything like acceptable quality...I believe JSP has good coverage in the Market-place and needs to concentate on the service side - making photography exciting again....if price is the only issue then JSP is on a hiding to nowhere ....as a holder, I hope they trade on their strengths...and the sooner the better.

I would have thought you can already print from a mobile phone -have you tried one of Jessops consoles? I'm not sure the quality will bet that good as you normally see only a tiny image...but if that's what you want...why not?

I saw a 20 digital camera in Woolworths yesterday - a nice bit of kit for the money - uses SD memory so not expensive and no zoom, but at 20 you could rip it open and make an adaptor for a microscope...or use it to view SD memory chips...considering it comes with a USB-lead and viewing software....and a box, case etc. wow it so good I'm tempted as a fun camera!
(Oops this is JSP-thread, sorry)
Bye-ee.

ITS NOT THE FIRST TIME THEY HAVE TIPPED IT ...THEY TIPPED IN AS SHARE OF THE YEAR IN 2006 ALONG WITH PIXXOLOGY AT THE SAME TIME BOTH DOWN ABOUT 75%....

42p is looking cheap to me...this busness has a strong brand AND presence on the High Street......maybe the influence of the internet is overdone....as Jessops sell more kit, they will be able to negotiate better prices with their suppliers.

JSP was overpriced at floatation, but I suspect this was because they had many years of trading behind them....but, at the moment they floated, the digital market was in turnoil....except no-one appeared to notice.

I was never convinced that Pixology had any barriers to entry; since image manipulation has been arround for many years - even before digital cameras, computers were used to "improve" scanned film-based images. So, just what was it that made investors think Pixology had somethin that would make their fortunes?

I hold JSP from recent falls.

Well cynic you were right and am surprised that putting in a stop loss at 20% has paid off this time. I am surprised that it has fallen off a cliff so soon though, a shorter's paradise, don't think I'm brave enough to pltch in this time
Jessops plc
28 March 2007


28 March 2007



Trading Update and Board Changes



Market conditions have continued to deteriorate since the Group's last trading
update on 28th February.


Market data just received for February confirms that UK digital compact camera
sales by value were down 16.3% and camcorders down 21.7% compared to 2006 - a
deterioration compared to January. These market declines have been driven mostly
by significant falls in average selling prices in the UK, causing further
pressure on sales and achieved margins.


Jessops has continued to gain market share in the camera hardware categories,
driven by the competitive pricing and strong promotional activity outlined in
the last statement. However despite this, like for like sales in the four weeks
since the 28th February were down 5.2%. Gross margins in the first half are now
expected to be around 4 percentage points lower than in the first half last
year, reflecting continuing price deflation and the more aggressive stance on
pricing to drive volumes.


Against this background, the Board expects Jessops to report a first half loss
in the region of 8.5m. As a consequence, the Board will not be declaring a
dividend for that period. The Board will review the position relating to the
full year dividend at the appropriate time.


The second half of the year includes Easter and the important summer trading
season. Following continued tough trading conditions in March and the apparent
further deterioration in the camera market, the Board anticipates further margin
pressure in the second half. Accordingly, the Board now expects to report a
profit of around 3.5m for the second half, resulting in a full year loss of
around 5m. Consequently the Board's current expectation for the year end debt
balance is approximately 52m. The estimated full year results and the year end
debt figures are stated before any exceptional costs arising in the second half
from the strategic review set out below and any related restructuring. The Board
anticipates that there will be a seasonal working capital uplift requirement in
the autumn in excess of available banking facilities and the Board will explore
all options to address this. The Board re-confirms that Jessops has the
continued support of its bank and discussions are ongoing with regard to the
company's future funding requirements.


Strategic Review


To address the challenges currently facing Jessops, Chris Langley, Chief
Executive will lead a strategic review of the business, with the results and key
actions being communicated to shareholders as soon as practicable. This review
will examine strategic options to reconfigure the business taking into account
changing market conditions.



Board Changes


Jessops today announces the following Board changes:


- Gavin Simonds, Non Executive Chairman, has informed his fellow directors that
he considers that the group will for a period require more active leadership of
the Board than his other commitments permit. He has therefore indicated that he
will step down from the Board but has agreed to stay with the company until the
time of the interim results announcement in May. The search for a replacement
has now started.


- Robin Whitbread, Commercial Director, who was responsible for day to day
operations, has resigned from the Board and has left the business. The Board
would like to thank him for his contribution, and wishes him well for the
future.


Chris Langley, Chief Executive commented:


'Jessops is experiencing unusually tough trading conditions, driven by severe
price deflation in the camera market leading to pressure on both revenues and
margins. Against this backdrop, I have initiated a strategic review of the
business and will report back on this as soon as practicable.'


ENDS


For further information please contact:

Jessops 0116 232 6000
Chris Langley, Chief Executive
Ian Harris, Finance Director

Hoare Govett 0207 678 8000
Sara Hale
John Fishley

Hogarth Partnership 020 7357 9477
James Longfield/Rachel Hirst/Georgina Briscoe




This information is provided by RNS
The company news service from

It doesnt look like its going to bounce either.

I hope you got out hangon and anyone else for that matter, they say profit warnings come in 3's ...

Board Changes looking grim but will it bounce


Jessops today announces the following Board changes:


- Gavin Simonds, Non Executive Chairman, has informed his fellow directors that
he considers that the group will for a period require more active leadership of
the Board than his other commitments permit. He has therefore indicated that he
will step down from the Board but has agreed to stay with the company until the
time of the interim results announcement in May. The search for a replacement
has now started.


- Robin Whitbread, Commercial Director, who was responsible for day to day
operations, has resigned from the Board and has left the business. The Board
would like to thank him for his contribution, and wishes him well for the
future.

Jessops issues third profit warning in 3 months UPDATE
AFX


(Adds detail)

LONDON (AFX) - Jessops PLC, the photographic retailer, has warned on profits for the third time in less than three months, blaming a further deterioration in the UK camera market, sending its shares crashing 55 pct.

The group, which trades from 218 stores and employs 4,000 people, has sacked Robin Whitbread, its commercial director responsible for day to day operations, and has launched a strategic review of the business.

Jessops is now forecasting a first half loss of about 8.5 mln stg and expects to report a profit of around 3.5 mln stg for the second half, resulting in a full year loss of around 5 mln stg.

Before today's statement, analysts were expecting a full year pretax profit of about 6.5 mln stg, down from 17 mln stg last time.

No interim dividend will be paid and the full year payout will be reviewed.

The retailer said it has continued to gain market share in camera hardware but still saw its like-for-like sales fall 5.2 pct in the four weeks to Feb 28.

Its gross margins in the first half are now expected to be around 4 percentage points lower than the same time the year before, reflecting continuing price deflation and a more aggressive stance on pricing to drive volumes.

Jessops' current expectation for its year-end debt balance is approximately 52 mln stg.

It said a seasonal working capital uplift will be required in the autumn in excess of available banking facilities, noting the board will explore 'all options' to address this.

The group re-confirmed it has the continued support of its bank and talks about its future funding requirements are continuing.

'To address the challenges currently facing Jessops, Chris Langley, chief

executive will lead a strategic review of the business, with the results and key actions being communicated to shareholders as soon as practicable,' the company said.

'This review will examine strategic options to reconfigure the business taking into account changing market conditions.'

The retailer also announced that Gavin Simonds, its non-executive chairman, will step down in May.

It said Simonds felt the group required 'more active leadership of the board' than his other commitments permit.

At 1.26 pm, shares in Jessops were down 25-1/4 pence at 21-1/4 pence, valuing the business at just 22 mln stg.

The stock floated at 155 pence in October 2004.

newsdesk@afxnews.com

Buy order set at 7p .

is that BUY or GOODBYE

"...Chris Langley, Chief Executive commented:


'Jessops is experiencing unusually tough trading conditions, driven by severe...etc..."

Surely this market condition was obvious a year ago?
As new cameras replace old, the market price of the new matches, or even undercuts the old model (list)...so the old model has to be discounted to shift 'em. Problem is that the new model removes some of the defects in the earlier version, such as battery life, zoom range, screen size etc - so many punters feel the new model is the better camera - so the old-model is destined for deep discount.
This situation has been on-going as manufacturers get to grips with what is possible in miniaturisation. Gone are the days of aspiring to a brand of camera and building a system of dedicated lenses, flash etc....today it's almost always all-in-one and then wait for the next model.

In that scenario JSP really needs to have a USP - but apart from good shops and staff they haven't - so the staff are having to compete on price with internet shops. I think they need to offer basic club-facilities for aspiring photographers with competitions and so on. Then get some OWN-branded cameras which they can sell and even provide an up-date route, or in the wake of farepak - maybe a Xmas saving club with a release of a new model just prior tpo the Xmas festivities - JSP would be in a good position to get a bulk discount and if this was sucessful they could try a second club for the summer-holiday snapper.
But I'm wary that the execs are old-school photographers and not sufficiently connected to this new digital-age which is seeing low-res acceptable from phones, although they have a good line in printing booths.

Cynic was right, as an Investment - but what are yr thoughts at this new sp-level(sub 18p)...bearing in mind we know the dividend has gone?

certainly not to buy ..... there's a pretty strong argument to bite the bullet at and sell, though with end of the tax year only a week away, your CGT posiiton may determine whether to do so now or in 10 days time ..... probably too risky to short at this stage, though might be worthwhile with a senisble stop-loss in place

Well, cynic I've sold - never let the tax get in the way of a sensible investment decision ....this was a weak buy ( when I did at 53p) and so I've only myself to blame now at 15p...still it hurts -FOR- I could have bought one of JSP's shiny digital cameras for the loss - several -
Really irks when a Co fouls up this much - I understand there is nigh-on 53m of debt and little prospect of sufficient sales to turn a profit - so it seems to me that the begging-bowl could come out, just to pay the interest charges.
It's not good...and one wonders what the Full Market Regulators ( Yes!), were doing allowing such a poor investment to be listed so highly in the first place...maybe 15p (not 1.50) was nearer the mark....
Two execs have walked the plank...let's hope they never work again.
Grr - severely browned off!
++all IMHO - DYOR etc...++

what annoys me is that all too often the execs still walk away with very fat wallets and pensions ...... Eric Nicoli is a good example of a CEO who has screwed up totally twice and walked away fortunes richer and Tiphook (many years ago) was a case of blatant abuse by the directors

dont mention marconi..................lord simpson should be in jail...........and he lost more than 10,000 jobs on top of busting the company almost overnight

Hate to disagree, esp. since I lotalot on Marconi - but LS was only the instigator...admittedly he did the Deed over several years, but he was encouraged by City types who (let's not forget) ..Make money on the way Up as well as Down. The City (it is rumoured) wanted to see ( GEC as then) become an international player to make them lots of money - and why not find a sap to spend the fortune Lord Weinstock had amassed?
Well LS spent like there was no tomorrow, except he and his like didn't tell retail investors that for every 1, they were getting barely 20p (Unlike Lord Weinstock who got six beans in exchange for five).... as long as the Telco bubble was inflated no-one looked...too hard
Then it all fell down and some respectable investments fell out also - but Marconi was seen in its true light - a company with masses of debt, lots of outgoings (wages, rent etc) and no sales potential and er little asset-value. Hence the debt for equity grab by the Banks.
I agree that LS should be in jail for he was able to stop the madness - but then so were many of his ilk =the exec. hangers-on at Marconi who now have spread themselves into other FTSE companies (at increased salaries no doubt) - look at the historic jobs of many of Invensys Execs - I say no more; but it surprises me that no-one creates a web-site of past deeds so that crooks, rapists, murderers (and failed execs) can't be named, shamed and kept away from my other investments....
Needless to say my holding in ISYS is quite small since I made the connection...I bought at 13p, sold at about 20p (prior to consolidation) so managed to make something out of their reincarnation....ISYS was in doggy-do for some time but I'm not able to track the movement of GEC/Marconi Execs - but it looks a really good company to me and I'm no fool, am I?

JSP is potentially another debt-for-equity swap - if the Banks think they can run a high-street photo-shop. The real profit comes from prints and for that a kiosk is about as much as you need, maybe at the main-line railway station. If national advertising is what pulls in punters....why bother with an expensive shop? Make the price attractive, decent web-presence (this is a rarity - indeed I can't think of any company whose web-presence is better than: "so you make..."..and NO, I don't want yr emails...)..
However, JSP is my largest loss in five years, so maybe I'm losing my marbles - whatever tempted me to invest - no I still don't know.....maybe that poster was right - 7p? However, by then it will be obviously heading for insolvency.....a shame for it was a well-run family business operating from an ex-railway station in Leicester (the line closed in 1890, but Daguerre missed it!)...but the flotation was a dog and really should never have been launched in its condition, esp. with digital cameras coming in to wreck their historic pitch. It's a latter-day Dixons in reality...(investment-wise).....yet I still wish their staff well, but execs not.

Ah well.
The reason Execs walk briskly is that remaining execs are paying for "silence". ?The whole company is probably rotten and they want to keep the lid on it; hoping that overseas order will come in and the shipyard will prosper etc etc.

back on the way up, can see to be made.get in quick.

Sorry Dave, but how many shares will I need to make a 1.

Heard today that there is a bid for Jessops

on the tube? ..... in the local greasy spoon? ...... not impossible i guess, especially if they own any freehold properties

master - Can you tell me where you have heard about a possible bid?

Chatting to city traders on the west coast commuter train to London Bridge this morning

solid and reliable info then!
a bit unkind i know(lol) and certainly sp has shot up again this morning, but that might very well be bears closing their positions with significant profits.
old and valid adage is that one should never buy just on the hope of t/o .... far too dangerous especially with a flaky company like jessops

Gutted bought 20k @70p watched the drop bought back in 50k @ 12.5p sold at 16.5p to reduce my loss , but looks small profit after cassenove gave them a boost saying that the bad news may all be out and the brand has value, bought another 50k @17.5p so am holding 70k and they are looking better

count your fingers

Up 25% today - but that was from a low start...obviously somone want these shares.

Re a poor exec register.... "Shares" helps in this respect, being able to keep punters up-to-date but what we need is a dedicated web-site to cover such persons...might be a useful place for good execs to be recruited....anyone want to develop this?
I understand LS was given 2m as a reward - to further his pension pot. Tell that to our WW1/WWII brave war-pensioners, whose quality of life is dire!

cynic
what do you mean count your fingers ?

Brand has value, eh?
Well maybe from the consumers' viewpoint...it's nice to ses a familiar shop, all the stuff laid out, helpful staff...but then you get to the paying bit - and realise the same camera can be bought for 50 less, maybe including a larger memory card. No when you're paying 1000 for a camera this amount may not concern you, if you think the after-sales service is worth having....but I can't recall Jessops ever having a repair shop - OK they used to collect all the s/h cameras and give 'em a clean.
However, the modern camera is unlikely to fail (other than being dropped!). So what added-value do you get "after" the sale?
The JSP memory-prices are horific and even at their "half-price" they look expensive to me. Along with Woolworths, there is very little margin on the High Street....large shops need to be shifting stock - (whatever they sell) so the pattern really is supermarkets, aiming at the average bulk-purchase.

My local Tesco is nearer than Jessops - and has a reasonable range of cameras - not too many but probably those where the margins are best.

So what is a brand?
A brand is what is left when you strip out all the bits that you can get elsewhere.
Thus you can buy a calculator for 3 or you can go to a fancy shop and buy the same thing branded Ferrari - now unless you are a fool you must realise they are the same product. However, if it has a natty slide-cover that protects the display, or it alone has a stopwatch function, lap calculator etc then the branded calculator is "more" -it is bang-on for sports meetings etc. The fact that it is now four times (or ten times the price is of little concern - you are buying that something "extra" you believe the branded product will provide. In this case it is an extra calculation routine and some mechanical protection.
Now consider the Jessops brand....just what are you getting that you need for that extra money? In the days when watches needed a service, adjustment and care it made sense to buy from a local watchmaker, repairer - although I can never remember them making watches....but you couldn't send your watch anywhere else.....so you paid the price and each town had two so prices were kept in check.
I don't disagree that JSP has a brand....but that doesn't mean it has value....well not until it is supported by something....historic performance and service are Good - but most folk want the Here and Now.....and on that score JSP has nothing other than shops- and that is the very thing that pushes up prices as long as volumes remain low.
Digital cameras are commodities and most folk have them. I don't see JSP can return to good sales - they need to trim their overheads to the reducing volumes.........
"Count yr fingers"? - I wondered too - - perhaps he's suggesting wait a little while....
i.e. do we think the next RNS will be bumper profits?
....(Up a further 15% today, but still very low prices....this could get nasty IMHO. But I've been burned once.)

i am suggesting that falling knives tend to be very sharp

700202
Well Done for having the balls to get back in and trade at a profit.
You derserve some luck
Cheers
Amar

Rumour of KPMG-involvment, but no RNS at 14.45 so that looks a tad careless.
/

My guess is it's a debt-for-equity swap, or slightly less worse, a major placing (ie no benefit to shareholders).
Retailers have been saying Easter was poor and one has to assume that JSP was no better - they have been advertising recently in the Nationals, but until costs come down I can't see the shop-overhead being covered by reduced margins.
I hold only a token having lost considerably believing there was value in the shops - now I think it is the shops that detract from value.....oh dear.
(Monday, today): dipped to c. 15p and has recovered slightly but is still down on the day. I suspect we may not see 25p for some time.....oh dear, again.
Any positive views, - perhaps those who are buying at these levels?

cynic , i think you are right on this one . The sp is going down again , i guess to a new low .

DOES ANYONE KNOW IF THEY HAVE ANY FREEHOLD PROPERTY ?

article in the nottingham evening post on monday 16th april. Action on jessops. The bankers of struggling camera retailer Jessops have called in the business recovery specialists. Pricewaterhouse Coopers to examine options for the group. Reports say. HSBC is understood to have made the move after the Leicester - based company warned last month that debt would swell to 52m, the newspaper reports say. Jessops have been struggling to cope with cheaper prices for digital cameras, which as put the pressure on sales and margins. The company and JSBC were unavailable for comment although the bank said it "continued to be supportive" of the firm. Chief executive Chris Langley is leading a strategic review of the company to address the challenges faced by the firm. The overhall of the business is likely to involve the closure of some of the firm 315 stores. Jessops expect to post losses of around 8.5m for the first half of the year to the end of march, resulting in a full year loss of 5m. Good luck to all holding.

sounds like the same death knell as when the footy club chairman says the manager has his full support etc!

Thanks Janetbennison; so it's PWC as advisers....that won't be cheap but in reality the "closures" you mentioned look like sense - in a few towns they have multiple outlets. The sad fact is that folk don't value good prints and JSP doesn't appear to be able to communicate with loyal customers....or shareholders for that matter (altough recently I guess they fear any Regulatory issues as well).
I wish I could see some value there, burried beneath the market reaction - some do but not this dry crust. (oops, give-away!)

Something up today...judging by the share price movement rise
and going into auction at 19p


Predator perhaps?

Foale, over the weekend was this news

Merchant Equity Partners, the private equity owner of MFI, the furniture retailer, is considering a bid for Jessops, the struggling camera retailer. News of Merchant's interest comes as Jessops prepares to announce the closure of 80 stores this week as part of a strategic review. MEP has been looking closely at the UK's largest photographic chain for more than a month, says the Telegraph

You could have made 20% in the first 10 minutes. 17p at 8am 20p offer 10 minutes later, unusally generous of the mm's, wish I hadn't just watched from the sidelines

Blue lady...thanks for that... very informative...

thought it had to be news related with such a spike...

please post any breaking news you hear...

Good for JSP holders, well those that bought at 16p and ignore the spread etc. - but this Equity Group is the same one that bought the MFI stores (for a notional 1 I think)....
So I suspect they got a lot of nearly nothing....therefore, I wonder if they would be prepared to pay current Mkt Cap for JSP?
Aren't they likely to be looking for a down-an-out bargain?

Damn missed another 10% gain for the first 15 minutes of trading again!

I would not worry about missing your 10 percent gain, as it could well be the shares will go up later on in the day. I think the news went down well and then there could be a takeover offer in the offering. The firm interested in making an offer for this company said they were waiting for these results to come out. So I am haning on. I have 60,000 shares. good luck to all holding.

janetbennison

whose likely to takeover

if i had a spare 30M i would buy this company....i only have a spare fifty quid...anyone lend me the rest?..the size of tunrover and the brand name etc means should be fairly easy to turn around

someone could be stakebuilding

Treblewide
If I had a spare 30M I would sit on the beach and watch Jessops go down the pan no one wants there products there is to much competition having said that they could still pull through, on my watch list.

no one wnats their products? mmm.....i woudl argue against that...they need to exploit their brand on the web more i would think but digital camera market still growing by volume

everyone likes a nice camera to use. The company could turn around quite quickly now. Jobs cuts. Reducing shops. etc. reducing overheads nd liabilities. The bank has had their assessors in to evaluate the situation and are still backing the company. will be interesting to see what the private equity firms would now offer for the company which could be sooner rather than later. Good luck to all holding.

janet ..... whistling in the wind i am afraid ....... retail trade is generally dire ..... unless JSP has a load of freeholds, which i doubt, then wouldn't touch the share ..... even if it is taken over, the best that could be hoped for is signs of recovery in 18 months ..... in a word - rubbish!

It has however been a great volatile short term trading opportunity in the 15-23p range. Buying in at 17 p and ditching at 20p a few times would have seen some excellent profits.

This site is all about making money from Trading stocks, however, if you get involved in the Companies then it helps to understand their potential.
JSP has good shops, almost all rented and their business is in discounting cameras - oh dear do I sense another PW? . ( DYOR ).
The reality is that their Shops are their life-blood, although I doubt the Directors see it that way - having been caught unawares recently, with the comming of the Digital camera - at a stroke BANG! went all those sales of develloper, paper, lenses and so on - the development of digital cameras is hand-in-hand with computers and what JSP has singularly failed to see is that they could become the trendy place for consumers to go for advice, + a good price and more kit -

However, JSP think they are "A camera-shop" and continue in their well-worn groove. . . . . if it stays like this, they will close more shops and with that their profit-centres (= printing from camera-memory ) - - the quality is far better than inkjet and yet - they do not promote this, it's a "take it or leave it" attitude IMHO.

JSP needs new Directors and a new slant on their Direction.....plenty of ideas, thanks...keeping them to myself.

Just to add to your comments - i think the strategy of the directors / managers in not fully taking advantage of the potential of internet sales channels to compliment their shops brought about their much talked about recent under performance, leading to having to re-finance et al...

Now that they are closing some of their shops, this should reduce their operational overheads to enable them to give some focus to the online sales channels; that said, it depends whther this was factored in at the time of re-financing .....

............

does one assume that the reported imminent bid in mid June never materialised?

Hmmmm!

Down 30% + dead cat bounce Rumoured to be in breach of banking covenants, HSBC getting twitchy

what happened to the supposed t/o, or did the suitors take one look and run?

Doesn't look imminent now

I have lost a lot on selling this; although my own fault as I thought they were overpriced, but joined-in anyway. ! ah Ha!
Now though I read JSP is trying to rebrand itself, . . . . to demonstrate its advantages to shoppers.....and this might be the bit they forgot. For when digital customers turn-up they're unaware of all the earlier silver history - they wanted a snapper and out.

Therefore the price was the only consideration and that caused JSP some pain with models changing and deep discounts. The falling price of memory also means you need to be a volume-player (quick turnaround) - so your next delivery still shows a profit. Any shop with memory on the shelves is in "bad country", (er IMHO).
The impending credit squeeze will affect both business loans and customer spending...so I'm not sure this is the bottom yet. My remaining holding is of trivial value now.

hangon
I agree but it does look temping at this price.

Bought a camera from this lot online last night. Very pleased as the model is not officially out yet. Good one Jessops.

SECRUOSER
Yes but have you received it .

LOL. No, ordered it too late for next-day delivery (~10:30pm). It is due to arrive on Tuesday.

Good news - camera arrived this morning.

Presumably you're happy with the camera, but did you get a good deal on price - this is the nub of the problem for JSP - if the customers get good deals, they won't be ordering anything too soon - yet they are a bad customer as far as JSP profit is concerned. I wonder if they tried to sell you other stuff and whether they will be trying to clinch another sale fairly soon. My own experience was they gave in on price and two years later I've heard zippo! SO much for trying to keep customers and milk 'em. I agree it's a fine -line but if they need a new Exec, I would change the way the treat customers, so they become long-term buddies.

If there is a credit-squeeze, then 10p won't be the bottom.

No - camera was defective!

Taking it to the local Jessops store tomorrow night, lets see how it goes.

All sorted. Although I had to justify it despite my statutory rights and the obvious fault.

SECRUOSER, - glad to read yr camera is now OK.

As with items like disc-drives; I'm not a great fan of postal delivery - shocks to delicate innards ( OK less so for most digi-cameras ) - will not necessarily show up immediately - but shortening the life of a HDD means that what should be 10-years may end up being 2-3 - - - long enough to have lost the reciept and to have plenty of photos/letters/tunes on the disc.
- At that point you have to start arguing that YOU didn't give it a knock - in other words: you made a small saving, but pay for it in the long-run. I had one HDD delivered in a poor package and even that took ages for a refund. My data is more valuable than the small saving. Now, I buy at Computer-fairs looking carefully at the vendor's handling....


My own digi-camera, bought 2005 from Jessop shop, has image stabilisation ( a glass disc that spins) - so I think that is reason enough to avoid postal delivery.

For many parts, memory etc there is probably no issue....but then JSP isn't the cheapest source.

[[ Note I'm not suggesting a shop-bought product is superior to a delivered part - rather than shocks can be given without any evidence that would make you reject it.
Some while ago a co ( in USA) developed a shock-aware part - like a small glass tube - but somehow it never caught-on . . . . . such a device might help to reduce the possibilty of delivery-shocks. HDD's can withstand amazing shocks ( many G's) - but we are unable to relate this to "everyday" handling. When a HDD is built-in then the mass increases, so a bang to a PC-case represents a very small shock to the HDD. For the same reason a "portable" is still at risk from much smaller shocks. Ideally a portable HDD would be surrounded in soft rubber so it could be dropped safely from (say) 6ft - but most of the design effort goes into styling the case!]].

Cheers hangon.

The fault was actually a white dot/dots on the image, presumably a fault in the CCD sensor, so unlikely to have been caused by the transit.

When I bought the camera (Canon Powershot A720IS) in late August it was only available from Jessops website. The good thing is I found a 10% off web voucher code and in addition I got a 50 cashback from Canon. This means I ended up paying just below the price for that camera now on the cheap websites such as Pixmania etc, so quite fortunate really!

One thing I have noticed about Jessops is the massive difference in price of memory cards compared to online retailers. I bought an Extreme III 2Gb card from Play.com for 16 inc. P&P and the same card is priced at 69.95 in the Jessops store!

Secruoser, sorry for the delay in reply - have just looked at JSP after today's 20% rise ( tad lower, now), on large volume of Buys about 250-worth....can't see why - - - at least wait for the Post-Xmas Sales to start, eh?

(yr comments):-JSP memory is getting on for twice the best On-Line price - do they think all humans are stupid, or only those that come into their shop, oh dear! Are you sure your's is the genuine III-version? Yr price is competitive - but JSP(quoted) is way-off, IMHO.

Did you get an explanation about the white dots?
...If it was black dots I'd say it's dust, dislodged in transit ( presumably the camera was OK when it left the factory, etc.), still it may be you'll never know the full story as shop assistants can tallk the most dreadful c&b just to please the sap/customer.
However, I think yr experience reinforces my view that single items should not be posted! Even if you get a nice on-line experience from "who knows where" - at least JSP is just a bus-ride away! That's something they fail to capitalise upon.
I went into my local JSP today and whilst it was pretty with lights there were only the usual no. of customers. I looked to find a BBargain, but it seems they've sold-off much of their "tired" (my word) stock to 3rd parties........now this seems like dumb to me - when somweone buys a fancy camera JSP should give them a voucher to buy one of these ( older specs) at a discount, so the snapper gets one for themselves and JSP makes a very good friend. You could argue the cheapo-sale destroys another sale - but if the snapper is keen they'll soon enough want something better.
The trouble with selling-off is 1)JSP gets a poor bulk-price and 2) they fuel an argessive competitor.
-The sooner JSP management is replaced the better - If I was a mind to I\'d replace [WLW] Execs also - for both stores have the same "Techno" issues ( ie no USP ) ...of course WLW has plenty of domestic day-to-day sales also.
-Interesting that for "twice a JSP share" you can buy WLW and get an 11% dividend.....if WLW ever gets better ( or a Bauger T-O), that will look quite smart.....whereas I can't see anyone wanting JSP, other than a camera/printer manufacturer(but why not set-up their own?)........and unfortunately JSP has been very weak on computing/image manipulation.........indeed apart from doing prints, you'd think their customers have no interest in "digital imaging" - Well JPS, I think you are so very wrong.............
-Ah that feels better.
Must lie down, ....Nurse, the tablets!

Have they managed to turn around the company?

That is what I think:
Results today with large losses as expected, but sales have turned positive last three weeks and company has change direction on clearing old stock and having the right product and product availability and selling them for a profit. The Turn is here

chart with a breakout and ready for UPTREND

This is with Candlesticks this afternoon

Panmure Gordon reiterated its 'buy' rating and 30 pence price target for JSP

The broker said the business is being cleaned up, although theres much more to do.

Panmure noted that net debt is well within the borrowing facility limits, inventory has been cut back, gross margin is improving, although sales continue to be tough.

It said Jessops is a high-risk investment, but the broker remains convinced that the business has a sustainable future.

It continues to believe that Jessops equity is a highly geared option on the company not going into administration.

In other reaction, ABN Amro said that although there remains a lot of work for Jessops ahead, at this stage the business is on track with its plans. It said there are some early signs of encouragement and it would leave its 2008 outlook unchanged.

any fool can sell 10 notes for 9.00 ...... have you not got eyes? ..... how many high street shops do you see closing down? ...... have you not read about falling sales of digital cameras with everyone (not me actually) preferring to use their mobile phones now that many of these have 5 mbp defintion?

Understanding why we go UP and then down ( short term

On looking at short term trading help by the Movement of stochastic on the -- 5 DAYS chart - Yesterday early afternoon, we reached peak on the scale and since has been going down to reached bottom ( most likely after 11 / 12am ) then most likely we will be for a positive movement UP again ( and that is the cycle short term ) up and down, provided that when it goes up, it does it on higher % than when it goes down its OK )

5 days

cynic own Biography
an opinionated pain who neverthless refuses to take himself too seriously and rarely gets upset by acid retort from those whose feathers he has ruffled.


Stop looking into the mirrow if you not want to see a BIG FOOL

Selling 10 notes for 9.00 days are over, if you bother to read the last report

when Jessops reaches 100 in double-quick time, then by all means call me a fool.
meanwhile, the market (while i accept it is pretty much in free fall) remains singularly unimpressed with the prospects

This business has 60M of bank loans and operating losses prior to key Xmas season. Don't know what covenants are linked to the bank facility but may be tight and with the pension fund having seen it fit to take a second charge over company assets the chances of failure must be high. IMO for brave gamblers only.

Share price on the WAY UP.

There are good signs of this happening today:

1st - the bid has move up this morning
2nd - since yesterday the nibbling is much stronger at this lower prices
3er - the double bottom charting scenario is becoming more of a reality by the day.

The buying at Plus Market is good and size also, 22K, 67K and 6K the last 3 deals

sorry to contradict (actually i'm not sorry at all!) but this company, it's product (digital cameras etc) and the sector are all to be AVOIDED

The graph shows it all.

cynic is right,( see graph!), yet Tesco sells Digical Cameras etc - do you think they don't make a profit?
I think new management at JSP would help, but they need to see the digital future, rather than all the olden-days when JSP was a "proper photographers"

I'm willing to stand for that position, and have several ideas ready, for when/if I get the call.

Tesco also has the clout to buy very cheap and sell at minimal margin .... a specialist retailer does not have that luxury

One of the funniest stories I heard about Tesco was when they found their main distribution centre surrounded by a fleet of articulated lorries owned by one of their contracted haulage firms who they had refused to pay, nearly forcing the poor guy out of business. Fortunately it gave them some bad publicity and the firm was paid their dues. Not nice people to do business with which perhaps explains their success.

Trading statement early next week maybe..

TSCO - did the haulage co. ever get another Tesco contract?

There is always the possibility that a co will use its economic strength for good, but only rarely for Bad - however, being on the receiving end of Bad is no good at all and this is something large companies like TSCO should guard against.

The contractor was partly to blame, IMHO - for they allowed their business to be dictated by one Contract, rather than off-set it by forming a consortium (etc.)....it's tempting to take-on more and more business; but one customer should never represent more than 20% of your committment/or turnover.

Much the same with shares - never let one investment be greater than 10% shall we say?
If it comes good, then top-slice to keep things in balance . . . . oh. I don't, of course!

JSP - in Shares today. . . . .
. . . . repeating what we already know that you can buy branded goods on the Internet cheaper.
However, I disagree about TSCO being able to buy cheaper - I suspect TSCO shelf-cost is lower( than JSP's), and TSCO stocks fewer models - - JSP is a volume-buyer and I suspect their unit-cost is somewhat similar, certainly no worse than ( say), internet competition . . . indeed JSP could introduce an On-line store where price is King; but you'd not get any other benefits. . . . . yet I suspect few of us want these extra benefits as we're much more able to buy what we want, read Reviews etc.... that's why the Internet is bound to be a success.
- That doesn't mean JSP cannot be profitable - after all the on-line businesses don't appear to be going out of business, just yet.

how dumb can you get? ..... not much dumber is my guess if you think JSP is viable and will perform like Lazarus

Have to agree with cynic's view. Retailing is in the doldrums and is likely to get worse. You cannot eat cameras and Jessops will find it more difficult with the background of falling discretionary expenditure. This is not one I would pick from a contrarian or recovery viewpoint.

i wouldn't pick my nose with it!

Odds on that this one will go bust.

small caps movers update

Photographic retailer Jessops added 1.05 to 8.15. Last year the company issued three profit warnings, but this morning it said it has returned to underlying sales growth over the Christmas period.

Earlier on this morning update of CHRISTMAS TRADING STATEMENT ........

Jessops returns to underlying sales growth

LONDON (Thomson Financial) - Jessops PLC, the troubled photographic retailer
that issued three profit warnings last year, said it returned to underlying
sales growth over the Christmas period.
For the seven weeks to Jan 6 2008 sales on a like-for-like basis, which
strips out the impact of new and closed space, increased 0.3 pct.
Total sales were 20.6 pct lower, primarily due to the previously announced
closure of 81 stores.
For the 14 weeks to Jan 6 like-for-like sales fell 4.7 pct, while total
sales were down 24.4 pct.
Product margin rate for the 14 weeks was ahead of last year by 0.2
percentage points.
Jessops, which now trades from 233 UK stores, claimed it reinforced its
position as the nation's leading digital camera specialist with sales of DSLR
(digital single-lens reflex) particularly strong, reflecting both new product
launches and improved product availability.
The retailer said its stock clearance programme was completed in October.
Since then the group has managed stock levels and product sell throughs tightly.
Stocks as of Jan 6 were 34.0 mln stg, down from 62 mln stg at the same point
last year.
"We were prepared for a tough Christmas trading environment and managed the
business accordingly," said executive chairman David Adams, who joined the
business last May.
"Much work remains to be done to return the business to sustainable
profitability and this performance over the key Christmas period is an
encouraging step."