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.

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 .