www.supergroup.co.uk

avoid unless you want to gamble on a high street fashion company where the management hold all the cards

Is this worth a short friday?

We all like a short Friday! :-)

SGP SUPERGROUP

Gone short on SGP. More fundies than tech. But tech is poor anyway. results yesterday very poor. More bad weather and I reckon they are in a real mess looking at those accounts.

Broker sell note out to clents today.

10 May SuperGroup PLC SGP Peel Hunt Sell 330.45 300.00 300.00 Reiterates

i don't disagree at all with the logic of shorting SGP EXCEPT it is very illiquid and thus a dangerous manoeuvre ..... rather like ASC but worse

Seymour Pierce
08-05-12 None 52.00 49.20 64.00 59.80 15.00
Peel Hunt
03-05-12 SELL 43.08 39.87 48.11 45.33
Panmure Gordon
30-04-12 HOLD 43.20 41.60 55.60 55.40 11.10
Numis Securities Ltd
20-04-12 SELL 42.90 38.50 10.00 62.40 55.90 25.00
Shore Capital
13-01-12 SELL 55.10 50.60 15.00 69.10 63.60 18.80

SGP stock on loan from data explorers....

proxy for shorting.....

.......... 11 May'12 - 15:20 - 4266 of 4267 edit


Intersting reading the premium
broker notes on the demise of this
company on the pulse.

SuperGroup Plc (SGP)Apr 20, 2012Chief Pulse Comment by Julian Dunkerton
As luck would have it, Wills arrives on Monday with carte blanche, says Dunkerton, to review "all internal controls". more
And the arrival of Susanne Given as chief operating officer and new finance director Shaun Wills will add experience. As luck would have it, Wills arrives on Monday with carte blanche, says Dunkerton, to review "all internal controls". That sounds ominous. Indeed, it explains why analysts are already braced for another profits warning, cutting 2013 forecasts by 20pc to £55m – despite SuperGroup insisting the fiasco will have "minimal impact" on next year

........... 11 May'12 - 15:22 - 4267 of 4267 edit


SGP Super Group

Premium Comment On the Pulse


SuperGroup Plc (SGP)Apr 20, 2012
Analyst Comment by KBC Peel Hunt
Downgrade to Sell by KBC Peel Hunt

more

Share this 0 read full story SuperGroup Plc (SGP)Analyst Comment by Panmure Gordon
Downgrade to Hold by Panmure Gordon

more

Share this 0 read full story SuperGroup Plc (SGP)Analyst Comment by Oriel Securities
Downgrade to Hold by Oriel Securities

more

The actual
nav is 151.31p forecast to rise to 223.70p
2012.

Therefore we have a retail company trading
on a Premium to assets of 53.5% and going forward
to 2012 31.3% (this figure subject to close scrutiny after last fiasco)


Way too high and far too expensive.

This has got to be the turkey of the year

SuperGroup shares ended July on 417p, up 80p (24%) from 337p at the end of June. But they're still way down from their 52-week high of 1,136p.

The longer-term collapse was in part due to a series of profit warnings caused by woeful accounting mistakes, a fact that the company confessed to in its annual report -- but the price had been badly over-hyped over the past couple of years.

Annual results showed a 32% rise in sales, with 26 new stores opening during the year and like-for-like sales up 2%. Internet sales are growing and accounted for 10% of sales.

Forecasts for Supergroup put the shares on a prospective price-to-earnings (P/E) ratio of around 9 for next year, falling to 8 for 2014. And though there isn't much of a dividend yet, that makes it look like this recovery is not over.

SuperGroup (LSE: SGP.L - news) sheds 0.6 percent as the owner of the Superdry fashion brand is dealt another blow, with the co-founder of the business, Theo Karpathios, abruptly quitting "to take on new challenges".

On Tuesday, Supergroup, the "too much, too soon" stock market story of recent years, takes another step in its attempt to repair relationships with the City.

Chief Executive and co-founder of SuperGroup Theo Karpathios abruptly quit his position in the middle of August to 'take on new challenges,' having presumably got fed up dealing with the surfeit of "old challenges" at the trendy clothing firm, which has had more than its share of teething troubles since floating on the stock exchange.

To make matters harder for the firm, the trading statement covers the first quarter (Q1) of its financial year, which last year was a bumper period for the fast-growing firm, in which like-for-like (LFL) retail sales growth of 14.4% year-on-year was achieved.

"We forecast retail sales growth of around 15% and wholesale sales growth of around 5% for Q1 2012/13, which implies group quarterly revenue growth of c.11%," Panmure Gordon said, adding that it thinks the market is slowly regaining trust in the company's management.

The broker reckons the shares are worth holding, if you already have them. "We await further evidence that our gut feel (of stronger management in the form of a new FD [finance director] and, especially, a new COO [chief operating officer) is correct before moving to a more positive stance," Panmure Gordon's Jean Roche said.

Just as fellow fashionista Burberry was falling on an effective profit warnings, SuperGroup -- the owner of the Superdry brand -- saw its shares perk up by 33p (6.2%) to 564p. Again, it was an interim update that did it, but this time it was all positive with total sales for the first quarter up 10% to £59.7m, and the company is on course to meet its financial objectives.

The shares are still way down on the year, but since the middle of June they've more than doubled from a 2012 low of 264p.

Moving up nicely now

Sold my holding

Results tomorrow....

SuperGroup Plc (SGP)Nov 23, 2012Analyst Comment by Frederick George at Seymour Pierce

Seymour's retail analyst Freddie George, who knows and holds Sutherland "in high regard", reckons the company behind the SuperDry brand has significant potential to develop and boost profitability overseas with the likely tidy up of its complex international make up. more
. It comes on the back of a change to its board as Minnow Powell, a former Deloitte partner, and Euan Sutherland, current chief operating officer at B&Q owner Kingfisher ( LON:KGF) were appointed as non executive directors. . Seymour's retail analyst Freddie George, who knows and holds Sutherland "in high regard", reckons the company behind the SuperDry brand has significant potential to develop and boost profitability overseas with the likely tidy up of its complex international make up. .

From IC week ahead....

A recently steady performance at fashion retailer SuperGroup (SPG) should allow the group to reveal a decent set of half-year figures on 12 December. In particular, the company has been expanding its UK store portfolio and is looking to improve profitability overseas while also boosting internet sales. In fact, a second-quarter trading update last month reported that group sales had increased 20.3 per cent on the same period last year, as cooler weather boosted sales of coats and hoodies. Second quarter retail like-for-like sales rose by a healthy 5.8 per cent, while the wholesale unit's sales, on a constant currency basis, grew 14.4 per cent in that period. At 609p, the shares have slipped around 12 per cent since mid-November and, trading on 12 times broker Seymour Pierce's full-year EPS estimate of 51p (2012: 37.9p), aren't demandingly rated for a decently performing retailer.

SUPER results.....

Highlights



· Group revenue up 16.2% to £158.2m.

· Retail revenue up 26.4%; like-for-like2 sales growth 3.9% (2011: 4.0%).

· International expansion: 37 franchise and licensed stores opened including the first franchise store in India.

· Internet now represents 10.2%3 of Group revenue (2011: 8.2%).

· International websites launched in Canada, Switzerland, Spain and Italy.

· 90 bps gross margin improvement, reflecting falling cotton prices and improved supplier terms.

· Underlying1 PBT up 13.1%.



Current trading & outlook



In the six weeks since the end of the period the Group has performed broadly in line with internal expectations and generated positive like-for-like retail sales.



Although the consumer climate remains challenging and the Group is trading against a strong December sales performance last year, which saw like-for-like sales at +9.3%, the Superdry stores are well positioned ahead of this year's peak trading period.

http://www.investegate.co.uk/supergroup-plc-(sgp)/rns/interim-results/201212120700073064T/