Does anyone know why the shares have fallen today despite Christmas coming, past year's increased trading and new stores opened?

Clinton dumps Birthdays
Business Financial Newswire

Clinton Cards has today put its loss-making subsidiary Birthdays into administration.

Clinton said there is little prospect of it generating a profit in the near future.

Birthdays' Irish subsidiary, Birthdays (Ireland) Ltd, has not been placed into administration and will continue to trade as normal.

Clintons purchased the Birthdays' business in December 2004.

Birthdays has continued to incur losses since that time and, although its sales performance has been improving, Clintons has had to continue to provide a significant amount of financial support.

The 332 Birthdays' stores, employing approximately 2,100 people, will continue to trade as usual while the administrators explore all options available to secure the future of the Birthdays' business.

Clintons said like-for-like sales in the 13 weeks to 3 May were flat.

This comprised a slight decline of 0.6% for the Clinton brand and an increase of 2.3% for the Birthdays brand.

OVER 22p.(why did theY buy BIRTHDAYS)

Clinton buy a total of 196 stores from Birthdays, acting by its
administrators, Zolfo Cooper. GBP3.25m of the GBP3.5m consideration will
be discharged by way of a reduction in the amount owed by Birthdays to Clintons.The successful purchase of a large proportion of the Birthdays stores
thereby ensuring employment for 1,450 people.

Since the Interim Management Statement on 13 May 2010 the Group has experienced weaker trading. Total sales are expected to be about 2% behind the Board's previous expectations, impacted by the disproportionately poor performance in 13 stores trading in Southern Ireland.

As a result, the Board now expects that the Group adjusted operating profit for
continuing operations will be similar to last year.

However, we continue to work with significant headroom across all of our
banking covenants.

==========================

So, less than 2 months on from their last statement they are having to chop their expectations. Doesn't say much for management awareness. Not surprising that the share price lurches around month by month.

FWIW, I think this stock is held by a family so the management is somewhat blinkered from the Market gnerally. They will believe things will return soon and that "everyone has a birthday"
However, as folk lose jobs there will be fewer office leaving do's and fewer birthday collections etc (every office has an organiser), put that with the oversupply of cheaper cards in the High Street and you have dead stock on shelves.
Clinton has expensive shops to maintain and their cards aren't cheap either.
Indeed I'm surprised it's this high with little to drive UK plc into profit for the next 3-4 years....What do others see...?
EDIT -(7Jy10)-Skinny, yes and I recall seeing two "Card Factory" shops at each end of at least one High Street - don't let's forget that small shops can sometime negotiate very low rents, to "tidy-up" the area.

With the likes of the Card Factory, I can't believe these are still around.

XMAS IS ON IT WAY THIS COULD BE THE BOTTOM. 30p

Profit warning.

I'm not buying this till March.

"I'm not buying this till March."

I'm not buying Mitzy -):

lol Stan..

Chimp share to buy.

For a banana ? :-)

lol skinny.

last time it eas 5p it hit 50p within 12 months.

Off again when will it finish.

As I said in post 37 - I can't believe they are still around!

I may buy @5p whether they can go to 50p again its 50/50.

Big faller today.