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.

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...++