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Mothercare reborn and maybe worth a punt now (MTC)
ainsoph - 10 Feb 2003 09:04
I have been in and out of these a few times :-)) ..... bumping around their bottom but starting to bounce a little ..... closed @ 87/90p on Friday.
They have fallen from grace because of poor distribution probelens caused by poor management and an out of House warehousing system. THis is being sorted and new guys have replaced the old .....
Great brand name and selling could be overdone ..... anyway I am in for a few @ 90p and will let them ride for a while - not a t trade. Recent director buying around this price
ains
bought @ 90p - currently moving up at 141/145p 13/05 = plus 56.66% net
;MA(50);MA(200)&IND=MACD(26,12,9);RSI(14);VOLMA(60)&Layout=2Line;Default;Price;HisDate&XCycle=&XFormat=)
They have fallen from grace because of poor distribution probelens caused by poor management and an out of House warehousing system. THis is being sorted and new guys have replaced the old .....
Great brand name and selling could be overdone ..... anyway I am in for a few @ 90p and will let them ride for a while - not a t trade. Recent director buying around this price
ains
bought @ 90p - currently moving up at 141/145p 13/05 = plus 56.66% net
ainsoph - 23 Feb 2003 09:48 - 2 of 454
Baugur builds Mothercare stake
By Richard Fletcher (Filed: 23/02/2003) S Telegraph
Baugur, the Icelandic retailer, has acquired a 2 per cent stake in Mothercare, the beleaguered high street retailer which is already being circled by a number of potential bidders.
Baugur has bought more than 1.5m shares in Mothercare over the past three weeks, investing more than 1.3m in the retail chain.
Mothercare, which issued three profit warnings last year, has been linked with a string of possible suitors over the past 18 months. However, with the shares trading close to a record low, the stake-building by Baugur will increase speculation that a bid is imminent.
Jon Asgeir Johannesson, the chief executive of Baugur, believes that the UK retail sector is massively undervalued and has invested 50m in a number of quoted retailers, including House of Fraser, Big Food Group and Somerfield.
Johannesson is said to be particularly impressed by the strength of the Mothercare brand and its international franchise business.
Baugur's interest emerges as Ben Gordon, the newly appointed chief executive of Mothercare, is preparing to announce the outcome of a wide-ranging review of the business.
Gordon, who was appointed in December, has been attempting to find a solution to the distribution and warehousing problems that have crippled Mothercare. Just weeks after arriving at the retailer Gordon recruited Colin Astbury, the former logistics director of Laura Ashley, to sort out the mess.
Earlier this month The Telegraph revealed that Baugur had built a small stake in Selfridges, the fashionable department store chain.
Under Stock Exchange rules Baugur can acquire up to 3 per cent of a company before making an official regulatory announcement.
By Richard Fletcher (Filed: 23/02/2003) S Telegraph
Baugur, the Icelandic retailer, has acquired a 2 per cent stake in Mothercare, the beleaguered high street retailer which is already being circled by a number of potential bidders.
Baugur has bought more than 1.5m shares in Mothercare over the past three weeks, investing more than 1.3m in the retail chain.
Mothercare, which issued three profit warnings last year, has been linked with a string of possible suitors over the past 18 months. However, with the shares trading close to a record low, the stake-building by Baugur will increase speculation that a bid is imminent.
Jon Asgeir Johannesson, the chief executive of Baugur, believes that the UK retail sector is massively undervalued and has invested 50m in a number of quoted retailers, including House of Fraser, Big Food Group and Somerfield.
Johannesson is said to be particularly impressed by the strength of the Mothercare brand and its international franchise business.
Baugur's interest emerges as Ben Gordon, the newly appointed chief executive of Mothercare, is preparing to announce the outcome of a wide-ranging review of the business.
Gordon, who was appointed in December, has been attempting to find a solution to the distribution and warehousing problems that have crippled Mothercare. Just weeks after arriving at the retailer Gordon recruited Colin Astbury, the former logistics director of Laura Ashley, to sort out the mess.
Earlier this month The Telegraph revealed that Baugur had built a small stake in Selfridges, the fashionable department store chain.
Under Stock Exchange rules Baugur can acquire up to 3 per cent of a company before making an official regulatory announcement.
ainsoph - 24 Feb 2003 08:43 - 3 of 454
02/24 08:27
Mothercare Shares Gain After Baugur Buys 2.14 Percent Stake
By Paul Jarvis
London, Feb. 24 (Bloomberg) -- Shares of Mothercare Plc, the U.K. retailer being circled by potential bidders, rose as much as 6.3 percent after Baugur Group HF, Iceland's biggest retailer, said it bought a 2.14 percent stake over the last three weeks.
Baugur last purchased Mothercare shares on Wednesday, spokesman Halldor Larusson said in an interview. Based on Mothercare's market value of 62 million pounds ($98 million) on Friday, the stake would have cost about 1.3 million pounds.
Mothercare has been linked with several possible suitors over the past 18 months and Baugur's buying will increase speculation a bid is imminent, the Sunday Telegraph said yesterday. Baugur also holds stakes in department store operators House of Fraser Plc and Selfridges and supermarkets Somerfield Plc and Big Food Group Plc.
``They will be buying more shares in the sector,'' Larusson said. He declined to say which retail stocks Baugur plans to buy.
Shares of Mothercare were up 5.5 pence to 93.5p at 8:20 a.m. in London, the biggest gain since Dec. 6. Before today, the stock had fallen 56 percent in the past year.
Mothercare Shares Gain After Baugur Buys 2.14 Percent Stake
By Paul Jarvis
London, Feb. 24 (Bloomberg) -- Shares of Mothercare Plc, the U.K. retailer being circled by potential bidders, rose as much as 6.3 percent after Baugur Group HF, Iceland's biggest retailer, said it bought a 2.14 percent stake over the last three weeks.
Baugur last purchased Mothercare shares on Wednesday, spokesman Halldor Larusson said in an interview. Based on Mothercare's market value of 62 million pounds ($98 million) on Friday, the stake would have cost about 1.3 million pounds.
Mothercare has been linked with several possible suitors over the past 18 months and Baugur's buying will increase speculation a bid is imminent, the Sunday Telegraph said yesterday. Baugur also holds stakes in department store operators House of Fraser Plc and Selfridges and supermarkets Somerfield Plc and Big Food Group Plc.
``They will be buying more shares in the sector,'' Larusson said. He declined to say which retail stocks Baugur plans to buy.
Shares of Mothercare were up 5.5 pence to 93.5p at 8:20 a.m. in London, the biggest gain since Dec. 6. Before today, the stock had fallen 56 percent in the past year.
ainsoph - 24 Feb 2003 11:38 - 4 of 454
Up over 7% on a little above average volume @ 93/96p 367K traded
ains
24 Feb 2003 10:21 GMT
UK's Mothercare hots up on Baugur stake
LONDON, Feb 24 (Reuters) - Shares in babycare retailer Mothercare Plc MTC.L enjoyed a rare bounce on Monday after Icelandic investor Baugur BAUG.IC bought a two percent stake, raising hopes of potential bid interest.
Baugur, which now has stakes in food retailers Somerfield SOF.L and Big Food Group BFP.L along with department store chains House of Fraser HOF.L and Selfridges SLF.L , is not thought to be planning a bid, but is continuing to build up its shareholdings in what it sees as "undervalued" companies.
A spokesman for Baugur said the company has spent about 1.5 million pounds buying a 2.14 stake in Mothercare over a period of three weeks.
Under stock exchange rules Baugur, Iceland's biggest retailer, may acquire up to three percent of a company's shares without making an official announcement.
Shares in Mothercare put on 5-1/2p or 6.25 percent to 93-1/2p by 1017 GMT in a broadly flat market -- still well short of their 12 month high of 265p and close to a year low of 84.5p hit earlier this month after a slump of 56 percent in a year.
"Thats all it needed," said one dealer. "The theory is Baugur or somebody else might make a bid. It's just stopped the selling."
The high street retailer specialising in clothing furniture and accessories for babies and young children is trying to steer its way to recovery under new management after distribution problems prompted a succession of profit warnings.
Last month both the chairman and chief executive bought shares in the company following the latest profit warning after disappointing Christmas holiday season sales.
New Chief Executive Ben Gordon, who started in December, is currently conducting a wide ranging review.
Baugur is thought to be taking an 18-24 month investment view, believing Mothercare is a strong enough brand to pull through.
Analysts at Deutsche bank said last month the UK general retail sector is "irrationally undervalued", trading at its lowest rating for 28 years.
Analysts expect Mothercare to chalk up a loss of about 12 million pounds for the year ending March 2003.
ains
24 Feb 2003 10:21 GMT
UK's Mothercare hots up on Baugur stake
LONDON, Feb 24 (Reuters) - Shares in babycare retailer Mothercare Plc MTC.L enjoyed a rare bounce on Monday after Icelandic investor Baugur BAUG.IC bought a two percent stake, raising hopes of potential bid interest.
Baugur, which now has stakes in food retailers Somerfield SOF.L and Big Food Group BFP.L along with department store chains House of Fraser HOF.L and Selfridges SLF.L , is not thought to be planning a bid, but is continuing to build up its shareholdings in what it sees as "undervalued" companies.
A spokesman for Baugur said the company has spent about 1.5 million pounds buying a 2.14 stake in Mothercare over a period of three weeks.
Under stock exchange rules Baugur, Iceland's biggest retailer, may acquire up to three percent of a company's shares without making an official announcement.
Shares in Mothercare put on 5-1/2p or 6.25 percent to 93-1/2p by 1017 GMT in a broadly flat market -- still well short of their 12 month high of 265p and close to a year low of 84.5p hit earlier this month after a slump of 56 percent in a year.
"Thats all it needed," said one dealer. "The theory is Baugur or somebody else might make a bid. It's just stopped the selling."
The high street retailer specialising in clothing furniture and accessories for babies and young children is trying to steer its way to recovery under new management after distribution problems prompted a succession of profit warnings.
Last month both the chairman and chief executive bought shares in the company following the latest profit warning after disappointing Christmas holiday season sales.
New Chief Executive Ben Gordon, who started in December, is currently conducting a wide ranging review.
Baugur is thought to be taking an 18-24 month investment view, believing Mothercare is a strong enough brand to pull through.
Analysts at Deutsche bank said last month the UK general retail sector is "irrationally undervalued", trading at its lowest rating for 28 years.
Analysts expect Mothercare to chalk up a loss of about 12 million pounds for the year ending March 2003.
ainsoph - 24 Feb 2003 13:17 - 5 of 454
volumes are picking up - shares now plus 10.23% - 7.5:1 in favour of buys - all mm's blue
ains
ains
ainsoph - 03 Mar 2003 11:16 - 6 of 454
New FD appointed - ex TESCO and Crown Sports
ainsoph - 03 Mar 2003 12:53 - 7 of 454
More reward for total abject failure .... Wonder how many dummies that would buy
ains
LONDON (AFX) - Mark McMenemy, Mothercare PLC finance director since April 2001, has been sacked and will leave the troubled maternity and baby products retailer with a pay-off well in excess of 225,000 stg.
"Mark's agreed to move on, but has gone at the request of the board so he will be receiving compensation," a Mothercare spokeswoman told AFX News.
She said details of his severance are being finalised.
However, she said that as he was on a one year rolling contract he will be entitled to one year's basic salary of 225,000 stg plus benefits.
A further sum will be added the reflect the period from July to December last year when McMenemy acted as chief executive following the resignation of Chris Martin.
His departure continues the re-shaping of the Mothercare team following the appointment of former Walt Disney executive Ben Gordon to the chief executive role last December.
McMenemy will be replaced by Steven Glew, a former finance director of Booker PLC and a Tesco PLC executive.
"Ben's keen to build a team that's right for the business and what he feels is that it really needs at this stage more turnaround expertise," said the spokeswoman.
In January, Colin Astbury was appointed as logistics director.
Gordon is expected to announce the results of a detailed operational review when Mothercare publishes its year to March 31 2003 results in May.
After a January profit warning analysts are forecasting a loss of about 12 mln stg.
Meanwhile, a report in yesterday's Observer newspaper said Mothercare is on the takeover target list of venture capitalists.
At 12.13 pm, shares in Mothercare were unchanged at 95-1/2 pence, capitalising the retailer at 67.5 mln stg.
james.davey@afxnews.com
ainsoph - 04 Mar 2003 07:41 - 8 of 454
Telegraph
Payoff for Mothercare finance chief
By Dominic White (Filed: 04/03/2003)
Mothercare, the baby products retailer, yesterday ousted Mark McMenemy as its finance director in the first stage of a much-anticipated shake-up by the new chief executive, Ben Gordon.
Mr McMenemy, who also acted as chief executive for much of last year, will receive compensation of as much as 300,000, equivalent to one year's base salary of 225,000 plus benefits.
He has been replaced by Stephen Glew, who was most recently finance director of golf and health club operator Crown Sports. Before that Mr Glew did the same job at Booker, which merged with Iceland in 2001. The majority of his pre-Booker career was spent at Tesco in finance and supply chain roles.
Analysts said Mr Glew's appointment signified the determination of Mr Gordon, who joined in December, to implement a long-awaited revamp, even though many remain unconvinced of his ability to turn the ailing group around. Mothercare has issued four profit warnings in just over a year and has suffered from a clutch of embarrassing distribution glitches.
Mr McMenemy took over as acting chief executive in July, when Chris Martin was ousted from the top position after the company came out with its third profit warning. Mothercare shares fell 0.5 to 95p.
Mothercare loses director
Chief continues shake-up
Richard Wray
Tuesday March 4, 2003
The Guardian
Embattled baby care retailer Mothercare yesterday ditched its finance director Mark McMenemy after less than two years. He is likely to receive a payoff
under his one year rolling contract in excess of 250,000.
The departure of Mr McMenemy, who was appointed in April 2001, is the latest change to the business wrought by new chief executive Ben Gordon.
Mr Gordon, a former Walt Disney executive, joined Mothercare last December and is building a team of turnaround specialists with a view to resurrecting the fortunes of the ailing retailer, which has warned on profits four times over the past year.
Mr McMenemy will be replaced immediately by Steven Glew, who helped to sell Booker to Iceland during his time as finance head of the cash and carry operator.
His appointment follows the arrival of Colin Astbury as Mothercare's logistics director in January.
Mr Gordon is undertaking an operational review of the Mothercare business and the results are expected to be unveiled in May when the retailer announces its annual results.
Mr Gordon may not, however, be given much time to turn the business around as it is already understood to be in the sights of several predators after a dramatic slide in its share price. Following four profit warnings shares in the company have dropped from over 3 in the summer of 2001 to well under 1.
In its most recent announcement, just six weeks ago, Mothercare warned of a 1.1% drop in like-for-like sales in the 13 weeks to January 10. The poor trading performance pushed Mothercare's shares to a new low of just 83p.
"Clearly this is an unacceptable performance and my priority is to fix retailing basics," said Mr Gordon at the time.
Payoff for Mothercare finance chief
By Dominic White (Filed: 04/03/2003)
Mothercare, the baby products retailer, yesterday ousted Mark McMenemy as its finance director in the first stage of a much-anticipated shake-up by the new chief executive, Ben Gordon.
Mr McMenemy, who also acted as chief executive for much of last year, will receive compensation of as much as 300,000, equivalent to one year's base salary of 225,000 plus benefits.
He has been replaced by Stephen Glew, who was most recently finance director of golf and health club operator Crown Sports. Before that Mr Glew did the same job at Booker, which merged with Iceland in 2001. The majority of his pre-Booker career was spent at Tesco in finance and supply chain roles.
Analysts said Mr Glew's appointment signified the determination of Mr Gordon, who joined in December, to implement a long-awaited revamp, even though many remain unconvinced of his ability to turn the ailing group around. Mothercare has issued four profit warnings in just over a year and has suffered from a clutch of embarrassing distribution glitches.
Mr McMenemy took over as acting chief executive in July, when Chris Martin was ousted from the top position after the company came out with its third profit warning. Mothercare shares fell 0.5 to 95p.
Mothercare loses director
Chief continues shake-up
Richard Wray
Tuesday March 4, 2003
The Guardian
Embattled baby care retailer Mothercare yesterday ditched its finance director Mark McMenemy after less than two years. He is likely to receive a payoff
under his one year rolling contract in excess of 250,000.
The departure of Mr McMenemy, who was appointed in April 2001, is the latest change to the business wrought by new chief executive Ben Gordon.
Mr Gordon, a former Walt Disney executive, joined Mothercare last December and is building a team of turnaround specialists with a view to resurrecting the fortunes of the ailing retailer, which has warned on profits four times over the past year.
Mr McMenemy will be replaced immediately by Steven Glew, who helped to sell Booker to Iceland during his time as finance head of the cash and carry operator.
His appointment follows the arrival of Colin Astbury as Mothercare's logistics director in January.
Mr Gordon is undertaking an operational review of the Mothercare business and the results are expected to be unveiled in May when the retailer announces its annual results.
Mr Gordon may not, however, be given much time to turn the business around as it is already understood to be in the sights of several predators after a dramatic slide in its share price. Following four profit warnings shares in the company have dropped from over 3 in the summer of 2001 to well under 1.
In its most recent announcement, just six weeks ago, Mothercare warned of a 1.1% drop in like-for-like sales in the 13 weeks to January 10. The poor trading performance pushed Mothercare's shares to a new low of just 83p.
"Clearly this is an unacceptable performance and my priority is to fix retailing basics," said Mr Gordon at the time.
ainsoph - 04 Mar 2003 07:43 - 9 of 454
March 04, 2003
Finance director departs troubled retailer
By Sarah Butler TIMES
MOTHERCARE has parted company with Mark McMenemy, the finance director who spent six months running the troubled retailer last year while it was searching for a chief executive.
Mr McMenemy, who oversaw the distribution system that has been blamed for many of Mothercares problems, is set to receive a payoff of more than 300,000, including one years salary of 225,000.
He will be replaced by Stephen Glew, the former finance director of Crown Sports, the health and leisure club operator, and Booker, now part of the Iceland group.
Mothercare said Mr Glew had the necessary turnaround experience from his days at Booker. He also spent 15 years at Tesco, the UKs biggest supermarket operator, where he was finance and supply chain director at the Irish operation.
Ben Gordon, the new chief executive of Mothercare, said he may hire more top managers. He said: I am building a team for the turnaround of Mothercare.
Stuart Rose, Mr Glews former boss at Booker, said: Stephen has the right credentials for the stage Mothercare is in. I have high regard for him and am sure hell do well.
Shares in Mothercare fell p to 95p.
Analysts doubted whether the appointment of Mr Glew would have much impact on the loss-making group. One said: This is a business which has been through more management teams than most companies. It needs to do something more drastic to get back on to an upward trajectory.
Mothercare is expected to tell investors how it will reorganise its distribution in the next few months. The company is understood to have sought quotations from distribution companies to take over from Tibbett & Britten, the operator of Mothercares problematic Daventry warehouse.
Finance director departs troubled retailer
By Sarah Butler TIMES
MOTHERCARE has parted company with Mark McMenemy, the finance director who spent six months running the troubled retailer last year while it was searching for a chief executive.
Mr McMenemy, who oversaw the distribution system that has been blamed for many of Mothercares problems, is set to receive a payoff of more than 300,000, including one years salary of 225,000.
He will be replaced by Stephen Glew, the former finance director of Crown Sports, the health and leisure club operator, and Booker, now part of the Iceland group.
Mothercare said Mr Glew had the necessary turnaround experience from his days at Booker. He also spent 15 years at Tesco, the UKs biggest supermarket operator, where he was finance and supply chain director at the Irish operation.
Ben Gordon, the new chief executive of Mothercare, said he may hire more top managers. He said: I am building a team for the turnaround of Mothercare.
Stuart Rose, Mr Glews former boss at Booker, said: Stephen has the right credentials for the stage Mothercare is in. I have high regard for him and am sure hell do well.
Shares in Mothercare fell p to 95p.
Analysts doubted whether the appointment of Mr Glew would have much impact on the loss-making group. One said: This is a business which has been through more management teams than most companies. It needs to do something more drastic to get back on to an upward trajectory.
Mothercare is expected to tell investors how it will reorganise its distribution in the next few months. The company is understood to have sought quotations from distribution companies to take over from Tibbett & Britten, the operator of Mothercares problematic Daventry warehouse.
foale
- 04 Mar 2003 08:57
- 10 of 454
I live in Bristol...Mothercare is the only store thats closing this month and leaving our large shopping Mall complex
Staff tell me co. does not want to pay the new increased cost of new lease
Problem with this co is became conplacent in the 90's
Other stores like H&M have taken its lower cheaper market away...and made it trendy
Other smaller boutigue stores...and John Lewis have taken the premium end
Baby Gap etc
Its does well on prams, buggies cots...but thats all IMHO
Its a bid and break up target...thats your best bet for value
Staff tell me co. does not want to pay the new increased cost of new lease
Problem with this co is became conplacent in the 90's
Other stores like H&M have taken its lower cheaper market away...and made it trendy
Other smaller boutigue stores...and John Lewis have taken the premium end
Baby Gap etc
Its does well on prams, buggies cots...but thats all IMHO
Its a bid and break up target...thats your best bet for value
ainsoph - 04 Mar 2003 09:23 - 11 of 454
Not sure I would go as far as you but agree they have lost their way .... poor management despite a captive audience .... needs someone to pull it together - sort out the stocking situation and move forward in a new way .... at current prices I see a win /win situation
ains
ains
ainsoph - 04 Mar 2003 15:30 - 12 of 454
New FD at baby products retailer
By Larry Schlesinger [04-03-2003]
Troubled baby care products retailer Mothercare has appointed a new finance director to take charge of the loss-making group.
Link: For more company ws
Steven Glew takes charge of the finances today, after the company said goodbye to Mark McMenemy after just six months in the role.
Glew is described by Mothercare as having an 'an excellent track record in senior financial roles in the retail and leisure sectors'.
His recent positions include group finance director at Crown Sports. and Booker plc, where he was part of the executive team, that helped with the merger with Iceland Plc in 2001.
He also spent 15 years at Tesco, rising to become FD of Tesco Stores Ltd and FD at Tesco Stores Ireland.
By Larry Schlesinger [04-03-2003]
Troubled baby care products retailer Mothercare has appointed a new finance director to take charge of the loss-making group.
Link: For more company ws
Steven Glew takes charge of the finances today, after the company said goodbye to Mark McMenemy after just six months in the role.
Glew is described by Mothercare as having an 'an excellent track record in senior financial roles in the retail and leisure sectors'.
His recent positions include group finance director at Crown Sports. and Booker plc, where he was part of the executive team, that helped with the merger with Iceland Plc in 2001.
He also spent 15 years at Tesco, rising to become FD of Tesco Stores Ltd and FD at Tesco Stores Ireland.
ainsoph - 09 Mar 2003 11:50 - 13 of 454
Sounds promising and will clearly help to get the share price moving
ains
Mothercare to tighten supply chain
9 March 2003, Mail on Sunday
STRUGGLING retailer Mothercare is close to striking a deal ending the chaos in its distribution system that has triggered a string of profits warnings. As recently as Christmas, it seemed the company would scrap the arrangement under which its goods go through a state-of the-art depot in Daventry, Northamptonshire, run by logistics specialists Tibbett & Britten.
But costs at Daventry have already been cut and Mothercare's new chief executive, Ben Gordon, wants to give the operation another chance to prove itself. The company is keeping open the option of severing its links with Tibbett & Britten.
Problems with the warehouse meant that many of Mothercare's 240 outlets did not receive adequate supplies of the right goods. Extra staff were hired to sort out the chaos and the firm struck a deal with Tibbett & Britten's rival Exel to handle some goods through a warehouse in Coventry.
Running two warehouses has added 3 million to annual costs.
ains
Mothercare to tighten supply chain
9 March 2003, Mail on Sunday
STRUGGLING retailer Mothercare is close to striking a deal ending the chaos in its distribution system that has triggered a string of profits warnings. As recently as Christmas, it seemed the company would scrap the arrangement under which its goods go through a state-of the-art depot in Daventry, Northamptonshire, run by logistics specialists Tibbett & Britten.
But costs at Daventry have already been cut and Mothercare's new chief executive, Ben Gordon, wants to give the operation another chance to prove itself. The company is keeping open the option of severing its links with Tibbett & Britten.
Problems with the warehouse meant that many of Mothercare's 240 outlets did not receive adequate supplies of the right goods. Extra staff were hired to sort out the chaos and the firm struck a deal with Tibbett & Britten's rival Exel to handle some goods through a warehouse in Coventry.
Running two warehouses has added 3 million to annual costs.
ainsoph - 26 Mar 2003 08:08 - 14 of 454
market seems to like this
LONDON (AFX) - Mothercare PLC said it has decided to remain at its current facility in Daventry with Tibbett & Britten as principal contractor and has signed a revised contract.
This conclusion was reached after a thorough financial and operational review of a wide range of options, which included changing both site and contractor.
In a statement to the stock exchange it said it would remain at Daventry because the warehouse is working effectively and costs are beginning to reduce.
It added the contract with Tibbett & Britten has been amended to a two-year rolling contract with a management fee that includes an element payable against the achievement of performance measures.
It also said remaining at the Daventry site is low risk as Mothercare will avoid the disruption and costs which would arise from another warehouse move.
Ben Gordon is currently undertaking a fundamental operational review of the business, including the Supply Chain, it said.
Ben Gordon, Chief Executive, Mothercare, said: 'We have worked with rigour and speed to reach this conclusion. We have considered every option and looked for the most appropriate solution to support the business at this time.
'We believe that the decision to remain at Daventry with Tibbett & Britten gives Mothercare stability now and the flexibility to review our requirements in two years time and to accommodate the conclusions of the supply chain work we are undertaking.
'Working closely with Tibbett & Britten, we are making good progress in improving the cost structure and performance of the warehouse and continue to meet customer needs effectively.'
rn
LONDON (AFX) - Mothercare PLC said it has decided to remain at its current facility in Daventry with Tibbett & Britten as principal contractor and has signed a revised contract.
This conclusion was reached after a thorough financial and operational review of a wide range of options, which included changing both site and contractor.
In a statement to the stock exchange it said it would remain at Daventry because the warehouse is working effectively and costs are beginning to reduce.
It added the contract with Tibbett & Britten has been amended to a two-year rolling contract with a management fee that includes an element payable against the achievement of performance measures.
It also said remaining at the Daventry site is low risk as Mothercare will avoid the disruption and costs which would arise from another warehouse move.
Ben Gordon is currently undertaking a fundamental operational review of the business, including the Supply Chain, it said.
Ben Gordon, Chief Executive, Mothercare, said: 'We have worked with rigour and speed to reach this conclusion. We have considered every option and looked for the most appropriate solution to support the business at this time.
'We believe that the decision to remain at Daventry with Tibbett & Britten gives Mothercare stability now and the flexibility to review our requirements in two years time and to accommodate the conclusions of the supply chain work we are undertaking.
'Working closely with Tibbett & Britten, we are making good progress in improving the cost structure and performance of the warehouse and continue to meet customer needs effectively.'
rn
ainsoph - 26 Mar 2003 13:40 - 15 of 454
Up 2.53% on the day
Mothercare shrugs off warehouse woes
Mothercare has put teething problems at a new distribution centre behind it after agreeing to extend its stay at the facility.
The company endured a difficult start to life at the warehouse in Daventry, Northamptonshire after its stores ran out of products in Christmas 2001 and the costs of the operation remained higher than expectations.
But Watford-based Mothercare has decided to stay put after reviewing its contract with supply chain management company Tibbett & Britten.
It has reduced a five-year fixed contract to a two-year rolling one and introduced performance bonuses as part of the deal.
Ben Gordon, who reviewed the contract in one of his first tasks as chief executive, says there are signs the warehouse is working more effectively.
One of the options considered was a move elsewhere but Mr Gordon says this would have been disruptive.
He added: "We have considered every option and looked for the most appropriate solution to support the business at this time."
Mothercare, which has 247 stores, has been battling over the last year to improve its fortunes but said in November warehousing and distribution costs were a "major impediment" to its recovery drive.
Mothercare, which is due to announce annual results on May 22, endured another difficult Christmas in 2002 with like-for-like sales in the 13 weeks to January 10 down 1.1%. Shares rose more than 2% to 101.5p today.
Story filed: 13:15 Wednesday 26th March 2003
Mothercare shrugs off warehouse woes
Mothercare has put teething problems at a new distribution centre behind it after agreeing to extend its stay at the facility.
The company endured a difficult start to life at the warehouse in Daventry, Northamptonshire after its stores ran out of products in Christmas 2001 and the costs of the operation remained higher than expectations.
But Watford-based Mothercare has decided to stay put after reviewing its contract with supply chain management company Tibbett & Britten.
It has reduced a five-year fixed contract to a two-year rolling one and introduced performance bonuses as part of the deal.
Ben Gordon, who reviewed the contract in one of his first tasks as chief executive, says there are signs the warehouse is working more effectively.
One of the options considered was a move elsewhere but Mr Gordon says this would have been disruptive.
He added: "We have considered every option and looked for the most appropriate solution to support the business at this time."
Mothercare, which has 247 stores, has been battling over the last year to improve its fortunes but said in November warehousing and distribution costs were a "major impediment" to its recovery drive.
Mothercare, which is due to announce annual results on May 22, endured another difficult Christmas in 2002 with like-for-like sales in the 13 weeks to January 10 down 1.1%. Shares rose more than 2% to 101.5p today.
Story filed: 13:15 Wednesday 26th March 2003
ainsoph - 27 Mar 2003 00:06 - 16 of 454
March 27, 2003
Mothercare in warehouse deal
By Sarah Butler TIMES
MOTHERCARE, the specialist retailer, is to retain the warehouse that has been at the centre of its financial problems over the past two years.
After an operational review, Mothercare has renegotiated its contract with Tibbett & Britten, the logistics company that runs its Daventry warehouse. It said yesterday that the new contract would give it greater flexibility because the duration of the contract has been cut from five years to two.
Mothercare has also linked Tibbett & Brittens fees to performance targets, which City analysts argued should already have been in place.
The retailer is understood to have sought quotes on alternative facilities but was eventually forced to renegotiate with Tibbett & Britten because of the costs of terminating its contract and relocating elsewhere.
Mothercare claimed that the Daventry facility is operating more efficiently, but admitted that it would continue to use a back-up warehouse in Coventry at least until 2004. A spokeswoman said: Mothercare has taken some costs out, things are running more efficiently now but there are more to go.
She said that renegotiating the contract gave Mothercare stability while it assessed its total supply chain and had the freedom to quit Daventry in two years if it was necessary.
Analysts welcomed Mothercares decision to stay put at the Northamptonshire storage facility, saying that it was positive for the business at this stage. Iain McDonald, of Numis, the brokerage firm, said: This is good news. I am sure Mothercare would rather it didnt need the additional capacity but the bottom line is that it has got to get stock into the stores and this ensures it can deliver that. He added: It has enough going on in the business right now with product and store development and they need to put this issue to one side and get on with running the business.
Mothercares shares rose 2p to 101p yesterday.
Mothercare in warehouse deal
By Sarah Butler TIMES
MOTHERCARE, the specialist retailer, is to retain the warehouse that has been at the centre of its financial problems over the past two years.
After an operational review, Mothercare has renegotiated its contract with Tibbett & Britten, the logistics company that runs its Daventry warehouse. It said yesterday that the new contract would give it greater flexibility because the duration of the contract has been cut from five years to two.
Mothercare has also linked Tibbett & Brittens fees to performance targets, which City analysts argued should already have been in place.
The retailer is understood to have sought quotes on alternative facilities but was eventually forced to renegotiate with Tibbett & Britten because of the costs of terminating its contract and relocating elsewhere.
Mothercare claimed that the Daventry facility is operating more efficiently, but admitted that it would continue to use a back-up warehouse in Coventry at least until 2004. A spokeswoman said: Mothercare has taken some costs out, things are running more efficiently now but there are more to go.
She said that renegotiating the contract gave Mothercare stability while it assessed its total supply chain and had the freedom to quit Daventry in two years if it was necessary.
Analysts welcomed Mothercares decision to stay put at the Northamptonshire storage facility, saying that it was positive for the business at this stage. Iain McDonald, of Numis, the brokerage firm, said: This is good news. I am sure Mothercare would rather it didnt need the additional capacity but the bottom line is that it has got to get stock into the stores and this ensures it can deliver that. He added: It has enough going on in the business right now with product and store development and they need to put this issue to one side and get on with running the business.
Mothercares shares rose 2p to 101p yesterday.
ainsoph - 28 Mar 2003 09:42 - 17 of 454
Bernard Cragg appointed non exec - brian Hardy steps down
shares are 100/103p up way over 10% since we started
ains
shares are 100/103p up way over 10% since we started
ains
ainsoph - 31 Mar 2003 09:30 - 18 of 454
Mothercare said that it has appointed Bernard Cragg as a Non-executive director to the Board with immediate effect. Bernard Cragg is Chairman of Datamonitor and a Non-executive director of Bank of Ireland, U.K. Financial Services and Bristol & West. Brian Hardy, who is currently a Non-Executive director will step down at Mothercare's Annual General Meeting in July 2003.
ainsoph - 04 Apr 2003 12:30 - 19 of 454
Legal and General announce a notifiable interest of 3.97% :-))
Still @ 100/103p against the buy @ 90p :-)) - Will add a few more as funds materialise from my ENIC venture
ainsoph
Still @ 100/103p against the buy @ 90p :-)) - Will add a few more as funds materialise from my ENIC venture
ainsoph
ainsoph - 10 Apr 2003 08:02 - 20 of 454
Moving up fast ..... in symathy with selfridges I suspect :-))
ains
ains
ainsoph - 17 Apr 2003 11:22 - 21 of 454
On the move again .... over 3% up intraday @ 106/110p .... showing a 15% net gain on these over 9 weeks
ains
ains
ainsoph - 25 Apr 2003 14:33 - 22 of 454
Ticking up lots on no volume - 5 month high @ 110/115p
ainsoph - 25 Apr 2003 16:58 - 23 of 454
nice close @ 117/119p on relatively modest volume .... up 30% net since we started and 9% today
ains
ains
ainsoph - 28 Apr 2003 09:43 - 24 of 454
A mini bout of early morning profit taking was soon squashed and we are on the move northwards again ..... 118/123p up over 2% intraday on high volume of nearly 200K
ains
ains
ainsoph - 01 May 2003 12:36 - 25 of 454
M+G have added another 127K and have a total of 10.6 million shares or 15.03%
Currently 120/124p
ains
Currently 120/124p
ains
ainsoph - 06 May 2003 13:31 - 26 of 454
Ticking up again @ 123/126p ...... highest for 8 months
Lot of talk in recent days that looking after children is one of the fastest growing areas in the service industry - just wondering if this brushes off on to parents spendng more
ains
Lot of talk in recent days that looking after children is one of the fastest growing areas in the service industry - just wondering if this brushes off on to parents spendng more
ains
ainsoph - 08 May 2003 13:57 - 27 of 454
Still ticking up @ 126/129p .... keeps looking over bought on the ST indicators .... but becomes even more so
H2 later this month - maybe some good news is on it's way
ains
H2 later this month - maybe some good news is on it's way
ains
ainsoph - 09 May 2003 08:08 - 28 of 454
Up again on early morning buys ..... something is going on
127/131p
127/131p
ainsoph - 12 May 2003 09:24 - 29 of 454
Ticking up again @ 132/136
ainsoph - 12 May 2003 11:03 - 30 of 454
...... and again @ 135/138 on modest volume ..... now showing a 50% net gain since we started :-))
ains
ains
ainsoph - 12 May 2003 11:06 - 31 of 454
Debs have just received a bid and with selfridges also on offer - starts to look interesting
ains
ains
ainsoph - 12 May 2003 11:12 - 32 of 454
138/142 up 7.69% on the day .... looks like the retail sector is still looking for consolidation
ainsoph - 12 May 2003 11:18 - 33 of 454
LONDON (Reuters) - Department store chain Debenhams says it has received an indicative 425 pence per share cash offer from Permira Advisers, valuing the firm at about 1.54 billion pounds.
The firm DEB.L said its board had agreed that the firm's executives could work on the indicative offer proposal.
The firm DEB.L said its board had agreed that the firm's executives could work on the indicative offer proposal.
ainsoph - 12 May 2003 16:14 - 34 of 454
bouncing back again afer some profit taking ..... now 137/141p with mm buying
ainsoph - 13 May 2003 08:34 - 35 of 454
Still ticking up on vague rumours ..... now 141/145p up 2.5% on the day and a massive 57% since we started 3 moths ago ..... volumes have been high for the last few days and we are on a new 8 month high for the shares
ains
ains
ainsoph - 17 May 2003 10:48 - 36 of 454
A lot of profit taking yesterday but still way above our entry point. Might be prudent to take some profits at this time.
ains
Mothercare to go with kids' fashion
By Alison Smith
Published: May 16 2003 21:52 | Last Updated: May 16 2003 21:52
Mothercare, the struggling specialist retailer, will next week set out a sharp change in strategy that will put its high street stores at the centre of its plans for revival.
Ben Gordon, who took over as chief executive at the maternity and baby goods chain in December, intends to change the group's focus from expanding the number of large out-of-town stores to making better use of its 170-plus high street sites.
Mothercare plans to make fashion a much greater element in the high street stores, a move that will make it more directly competitive with retailers such as Next and Marks and Spencer in terms of children's wear.
The extra prominence and space given to clothing will be at the expense of items of equipment such as buggies and car seats, which will be restricted to a couple of the most popular models.
The approach was developed in a series of trials when the retailer experimented with what merchandise the high street stores should stock.
These revealed that though many people buy basics such as nappies and baby wipes from supermarkets, customers still expected to be able to buy these in Mothercare if they wished.
So the group has decided that the stores must still stock these to underpin the brand, which has proved resilient in spite of a consistently poor recent trading performance.
What were once ambitious plans to increase the number of out-of-town stores from 63 to at least 100 have been quietly scaled back, partly because of the difficulty finding suitable sites.
Even though the high street stores have not undergone a significant refurbishment programme for more than a decade, the revamp should be considerably cheaper than opening significant new out-of-town sites.
This will be particularly welcome in a group that is not only expected to report a pre-tax loss of 12m for the year just ended, but is also saddled with warehouse and distribution costs that it admits are too high.
Many of Mothercare's recent difficulties have been attributed to the warehouse at Daventry, Northamptonshire, which the group acknowledged last year was not ideally suited to its needs.
On arrival, Mr Gordon carried out a review of the supply chain and concluded that the least-worst course was for the retailer to continue to use the facility rather than undergo the upheaval of a further change.
ains
Mothercare to go with kids' fashion
By Alison Smith
Published: May 16 2003 21:52 | Last Updated: May 16 2003 21:52
Mothercare, the struggling specialist retailer, will next week set out a sharp change in strategy that will put its high street stores at the centre of its plans for revival.
Ben Gordon, who took over as chief executive at the maternity and baby goods chain in December, intends to change the group's focus from expanding the number of large out-of-town stores to making better use of its 170-plus high street sites.
Mothercare plans to make fashion a much greater element in the high street stores, a move that will make it more directly competitive with retailers such as Next and Marks and Spencer in terms of children's wear.
The extra prominence and space given to clothing will be at the expense of items of equipment such as buggies and car seats, which will be restricted to a couple of the most popular models.
The approach was developed in a series of trials when the retailer experimented with what merchandise the high street stores should stock.
These revealed that though many people buy basics such as nappies and baby wipes from supermarkets, customers still expected to be able to buy these in Mothercare if they wished.
So the group has decided that the stores must still stock these to underpin the brand, which has proved resilient in spite of a consistently poor recent trading performance.
What were once ambitious plans to increase the number of out-of-town stores from 63 to at least 100 have been quietly scaled back, partly because of the difficulty finding suitable sites.
Even though the high street stores have not undergone a significant refurbishment programme for more than a decade, the revamp should be considerably cheaper than opening significant new out-of-town sites.
This will be particularly welcome in a group that is not only expected to report a pre-tax loss of 12m for the year just ended, but is also saddled with warehouse and distribution costs that it admits are too high.
Many of Mothercare's recent difficulties have been attributed to the warehouse at Daventry, Northamptonshire, which the group acknowledged last year was not ideally suited to its needs.
On arrival, Mr Gordon carried out a review of the supply chain and concluded that the least-worst course was for the retailer to continue to use the facility rather than undergo the upheaval of a further change.
ainsoph - 17 May 2003 10:49 - 37 of 454
May 17, 2003
TIMES Rumour of the day
MOTHERCARE fell 12p to 129p amid speculation that Thursdays full-year figures from the specialist retailer are likely to disappoint. There is also talk that Steven Glew, who joined as finance director in March after spells at Tesco and Booker, is weighing a rights issue to fund store refurbishments and provide additional working capital. Mothercare claims to have resolved problems at its Daventry warehouse.
TIMES Rumour of the day
MOTHERCARE fell 12p to 129p amid speculation that Thursdays full-year figures from the specialist retailer are likely to disappoint. There is also talk that Steven Glew, who joined as finance director in March after spells at Tesco and Booker, is weighing a rights issue to fund store refurbishments and provide additional working capital. Mothercare claims to have resolved problems at its Daventry warehouse.
ainsoph - 17 May 2003 10:51 - 38 of 454
Guardian
Saturday May 17, 2003
The Guardian
Mothercare, the babywear retailer which has enjoyed a rally of sorts since February, has been falling in recent days. Yesterday it fell 13p to close at
128.5p as new chief executive Ben Gordon prepared to deliver his first set of results next Thursday.
The man who led Disney Stores in Europe for three years issued a trading update a month after his arrival in December warning that lower than forecast sales over the peak Christmas period would "result in a trading outcome for the current year worse than expectations".
In March the company ousted finance director Mark McMenemy, replacing him with Steven Glew, who had been in a similar role at Booker before it was merged with Iceland.
Mr Glew having had a while to get to know the business, some dealers are suggesting that he is planning a clear-out. Thursday should also bring news on how distribution troubles with warehouse operators are to be resolved.
Saturday May 17, 2003
The Guardian
Mothercare, the babywear retailer which has enjoyed a rally of sorts since February, has been falling in recent days. Yesterday it fell 13p to close at
128.5p as new chief executive Ben Gordon prepared to deliver his first set of results next Thursday.
The man who led Disney Stores in Europe for three years issued a trading update a month after his arrival in December warning that lower than forecast sales over the peak Christmas period would "result in a trading outcome for the current year worse than expectations".
In March the company ousted finance director Mark McMenemy, replacing him with Steven Glew, who had been in a similar role at Booker before it was merged with Iceland.
Mr Glew having had a while to get to know the business, some dealers are suggesting that he is planning a clear-out. Thursday should also bring news on how distribution troubles with warehouse operators are to be resolved.
ainsoph - 18 May 2003 11:21 - 39 of 454
Interesting and will have an effect ....
Mothercare shocks with 20m pre-tax loss
By Richard Fletcher (Filed: 18/05/2003) S Telegraph
Mothercare, the troubled high street retailer, will announce record pre-tax losses of more than 20m this week - nearly double the 12m loss expected by City analysts.
The losses may overshadow ambitious plans by Ben Gordon, the newly appointed chief executive, to outline his strategy for reviving the fortunes of the maternity and baby goods retailer.
Following a gloomy trading update in January, City analysts had expected losses of 12m for the year to March 29. However, stock writedowns and the adoption of more conservative accounting policies have led to further exceptional items of at least 8m.
The company has not been under any obligation to disclose the spiralling losses because they relate to exceptional items. Since January's trading statement Mothercare shares have risen by 49 per cent.
The Telegraph has also learnt that a dozen senior managers in Mothercare's operations and buying departments have left the retail group in recent weeks. Gordon is expected to outline plans on Thursday to take on Marks & Spencer and Next with a renewed focus on fashionable childrenswear.
Philip Green, the retail entrepreneur, is to meet Safeway this week to discuss his 3bn bid for the supermarket chain. In April, Green requested further financial details from Safeway. However, it refused to provide the information until Green agreed to meet the retailer and provide a copy of his own plans for the group
Mothercare shocks with 20m pre-tax loss
By Richard Fletcher (Filed: 18/05/2003) S Telegraph
Mothercare, the troubled high street retailer, will announce record pre-tax losses of more than 20m this week - nearly double the 12m loss expected by City analysts.
The losses may overshadow ambitious plans by Ben Gordon, the newly appointed chief executive, to outline his strategy for reviving the fortunes of the maternity and baby goods retailer.
Following a gloomy trading update in January, City analysts had expected losses of 12m for the year to March 29. However, stock writedowns and the adoption of more conservative accounting policies have led to further exceptional items of at least 8m.
The company has not been under any obligation to disclose the spiralling losses because they relate to exceptional items. Since January's trading statement Mothercare shares have risen by 49 per cent.
The Telegraph has also learnt that a dozen senior managers in Mothercare's operations and buying departments have left the retail group in recent weeks. Gordon is expected to outline plans on Thursday to take on Marks & Spencer and Next with a renewed focus on fashionable childrenswear.
Philip Green, the retail entrepreneur, is to meet Safeway this week to discuss his 3bn bid for the supermarket chain. In April, Green requested further financial details from Safeway. However, it refused to provide the information until Green agreed to meet the retailer and provide a copy of his own plans for the group
ainsoph - 22 May 2003 08:10 - 40 of 454
Market quite like the news and the shares are up 5% and have been higher
Results for the 52 weeks ended 29 March 2003
Key Financials
* Group sales up 1.1% to #431.7m (2002: #426.9m)
* Gross margins up 0.2 percentage point to 41.8%, with a 1.3 percentage
point improvement in the second half year
* Adjusted operating loss* #10.4m (2002: #3.0m)
* Exceptional charges and one-off items totalling #14.5m
* Loss before tax of #24.8m (2002: profit before tax of #0.1m)
* Balance sheet cash positive: operating cash inflow of #8.3m (2002:
outflow of #10.5m)
* Strong performances from Mothercare Direct and Mothercare International
* Basic loss per share 22.0p (2002: earnings per share 0.2p)
* No dividend (2002: 2.5p per share)
*Adjusted operating loss refers to the operating loss excluding exceptional
charges and one-off items of #14.5m. (See Results Summary).
Current Trading
* Encouraging current trading with UK like-for-like sales for the seven
weeks to 16 May 2003 up 2.8% and an increase in gross margins.
Ian Peacock, Chairman, said:
"Since joining Mothercare as Chief Executive in December 2002, Ben Gordon and
his management team have moved quickly to stabilise the business. While much
remains to be done to restore Mothercare to proper levels of profitability,
encouraging progress is being made."
Ben Gordon, Chief Executive, said:
"The business is now on a stable platform and we have developed a plan to turn
Mothercare around. We are focusing on five key areas:- the store proposition,
product and sourcing, supply chain, customer service and infrastructure. While
the turnaround programme will take some three years to complete, we are making
good progress in delivering our plan.
"During the fourth quarter of the year trading strengthened. We have continued
to build on this performance in the current year and, whilst it is too early to
say whether it is the start of a sustained improvement, the first seven weeks
have been encouraging."
Results for the 52 weeks ended 29 March 2003
Key Financials
* Group sales up 1.1% to #431.7m (2002: #426.9m)
* Gross margins up 0.2 percentage point to 41.8%, with a 1.3 percentage
point improvement in the second half year
* Adjusted operating loss* #10.4m (2002: #3.0m)
* Exceptional charges and one-off items totalling #14.5m
* Loss before tax of #24.8m (2002: profit before tax of #0.1m)
* Balance sheet cash positive: operating cash inflow of #8.3m (2002:
outflow of #10.5m)
* Strong performances from Mothercare Direct and Mothercare International
* Basic loss per share 22.0p (2002: earnings per share 0.2p)
* No dividend (2002: 2.5p per share)
*Adjusted operating loss refers to the operating loss excluding exceptional
charges and one-off items of #14.5m. (See Results Summary).
Current Trading
* Encouraging current trading with UK like-for-like sales for the seven
weeks to 16 May 2003 up 2.8% and an increase in gross margins.
Ian Peacock, Chairman, said:
"Since joining Mothercare as Chief Executive in December 2002, Ben Gordon and
his management team have moved quickly to stabilise the business. While much
remains to be done to restore Mothercare to proper levels of profitability,
encouraging progress is being made."
Ben Gordon, Chief Executive, said:
"The business is now on a stable platform and we have developed a plan to turn
Mothercare around. We are focusing on five key areas:- the store proposition,
product and sourcing, supply chain, customer service and infrastructure. While
the turnaround programme will take some three years to complete, we are making
good progress in delivering our plan.
"During the fourth quarter of the year trading strengthened. We have continued
to build on this performance in the current year and, whilst it is too early to
say whether it is the start of a sustained improvement, the first seven weeks
have been encouraging."
ainsoph - 22 May 2003 08:28 - 41 of 454
LONDON (AFX) - Mothercare PLC, the maternity and baby goods retailer, slumped to a worse-than-expected full-year pretax loss, omitted its dividend and warned its turnaround programme will take three years to complete.
Nevertheless, the group, now run by former Walt Disney executive Ben Gordon, said it was encouraged by current trading.
For the 52 weeks to March 29 2003, Mothercare reported a pretax loss of 24.8 mln stg -- massively worse than analysts' expectations of a loss of around 12 mln stg and down from a pretax profit of 0.1 mln stg last time.
The retailer took exceptional charges and one-off items totalling 14.5 mln stg.
The adjusted operating loss (excluding the exceptional charges and one-off items) was 10.4 mln stg.
Group sales were up 1.1 pct to 431.7 mln stg.
Mothercare's gross margins were up 0.2 of a percentage point to 41.8 pct, with a 1.3 percentage point improvement in the second half.
Its balance sheet is cash positive -- operating cash inflow of 8.3 mln stg versus an outflow of 10.5 mln stg.
Basic loss per share totalled 22.0 pence versus earnings per share of 0.2 pence. No dividend was proposed versus a 2.5 pence payout last time.
In the first seven weeks of the new year to May 16 UK like-for-like sales were up 2.8 pct.
Gross margins have continued the improvement in performance experienced in the second half of last year, reflecting the benefits of better availability and a focus on full-price trading.
"The business is now on a stable platform and we have developed a plan to turn Mothercare around," said chief executive Gordon, who joined Mothercare last December.
"We are focusing on five key areas: the store proposition, product and sourcing, supply chain, customer service and infrastructure. While the turnaround programme will take some three years to complete, we are making good progress in delivering our plan."
"During the fourth quarter of the year trading strengthened. We have continued to build on this performance in the current year and, whilst it is too early to say whether it is the start of a sustained improvement, the first seven weeks have been encouraging."
Mothercare shares closed Wednesday at 122-1/2 pence, capitalising the company at 86.6 mln stg.
jdd/ak
Nevertheless, the group, now run by former Walt Disney executive Ben Gordon, said it was encouraged by current trading.
For the 52 weeks to March 29 2003, Mothercare reported a pretax loss of 24.8 mln stg -- massively worse than analysts' expectations of a loss of around 12 mln stg and down from a pretax profit of 0.1 mln stg last time.
The retailer took exceptional charges and one-off items totalling 14.5 mln stg.
The adjusted operating loss (excluding the exceptional charges and one-off items) was 10.4 mln stg.
Group sales were up 1.1 pct to 431.7 mln stg.
Mothercare's gross margins were up 0.2 of a percentage point to 41.8 pct, with a 1.3 percentage point improvement in the second half.
Its balance sheet is cash positive -- operating cash inflow of 8.3 mln stg versus an outflow of 10.5 mln stg.
Basic loss per share totalled 22.0 pence versus earnings per share of 0.2 pence. No dividend was proposed versus a 2.5 pence payout last time.
In the first seven weeks of the new year to May 16 UK like-for-like sales were up 2.8 pct.
Gross margins have continued the improvement in performance experienced in the second half of last year, reflecting the benefits of better availability and a focus on full-price trading.
"The business is now on a stable platform and we have developed a plan to turn Mothercare around," said chief executive Gordon, who joined Mothercare last December.
"We are focusing on five key areas: the store proposition, product and sourcing, supply chain, customer service and infrastructure. While the turnaround programme will take some three years to complete, we are making good progress in delivering our plan."
"During the fourth quarter of the year trading strengthened. We have continued to build on this performance in the current year and, whilst it is too early to say whether it is the start of a sustained improvement, the first seven weeks have been encouraging."
Mothercare shares closed Wednesday at 122-1/2 pence, capitalising the company at 86.6 mln stg.
jdd/ak
ainsoph - 22 May 2003 08:45 - 42 of 454
Buyers coming in strongly now and all 8 mm's are blue - volumes arlready 2/3rds of the daily average within 45 minutes of opening
Shares up 8% intraday
ains
Shares up 8% intraday
ains
ainsoph - 22 May 2003 08:50 - 43 of 454
BBC NEWS
Mothercare falls into the red
The company had reviewed its contract
The High Street retailer Mothercare has made bigger-than-expected losses, cancelled its dividend and warned that its recovery programme will take longer that first thought.
But the new chief executive said he was encouraged by the company's progress.
Mothercare made a loss before tax of 24.8m, compared with a profit of 100,000 last year.
The company has been struggling partly because a new distribution centre caused chaos, leaving stores with the wrong stock.
Ben Gordon, a former Walt Disney executive, who took over as chief executive of Mothercare in December, said: "The business is now on a stable platform and we have developed a plan to turn Mothercare around."
But he said the recovery plan would take three years.
Mothercare falls into the red
The company had reviewed its contract
The High Street retailer Mothercare has made bigger-than-expected losses, cancelled its dividend and warned that its recovery programme will take longer that first thought.
But the new chief executive said he was encouraged by the company's progress.
Mothercare made a loss before tax of 24.8m, compared with a profit of 100,000 last year.
The company has been struggling partly because a new distribution centre caused chaos, leaving stores with the wrong stock.
Ben Gordon, a former Walt Disney executive, who took over as chief executive of Mothercare in December, said: "The business is now on a stable platform and we have developed a plan to turn Mothercare around."
But he said the recovery plan would take three years.
ainsoph - 22 May 2003 09:06 - 44 of 454
Still ticking up and I recken there are a few shorts being closed as well as the genuine buying :-)
ains
ains
ainsoph - 22 May 2003 10:14 - 45 of 454
still moving northwards with big vols - currently plus 10.61% on the day and 11th in all shares risers board
ains
ains
ainsoph - 22 May 2003 12:07 - 46 of 454
Its time the goverment took a few more positive steps to stop this ... taxing them 99.99% if nec.
1m for ousted Mothercare trio
Jonathan Prynn, Evening Standard
22 May 2003
A FRESH 'rewards for failure' scandal emerged today when Mothercare said it paid almost 1m to three directors ousted in the year of the company's biggest-ever loss.
The specialist High Street retailer revealed the pay-offs as it announced a 25m slump into the red in the year to 29 March. The company was hit by protracted problems at a disastrous new central warehouse in Daventry, Northants, and poor trading that led to five profit warnings and a slump in its shares.
Former chief executive Chris Martin, who quit last July, has been paid compensation of 500,000, new boss Ben Gordon revealed today. One-time finance director Mark McMenemy, who also spent six months as acting chief executive after Martin's departure, left in March with 350,000. Ex-chairman Alan Smith left last August with 50,000.
The pay-offs will pour further fuel on City concerns that companies are not doing enough to limit pay-offs to directors who leave after poor performance.
Earlier this week, institutions voted down pay-off arrangements for GlaxoSmithKline chief executive JP Garnier that could have seen him walk away from the drugs giant with up to 22m.
Mothercare chief Gordon said the new team had sought to mitigate the compensation packages but insisted their hands were tied by their predecessors' contracts.
The company paid out 1.9m in redundancies last year, of which 900,000 went to the three directors and 1m - or about 33,000 each - to 30 other head office staff. One-off costs dragged the pre-tax loss to 24.8m. The previous year's 2.5p dividend has been axed
1m for ousted Mothercare trio
Jonathan Prynn, Evening Standard
22 May 2003
A FRESH 'rewards for failure' scandal emerged today when Mothercare said it paid almost 1m to three directors ousted in the year of the company's biggest-ever loss.
The specialist High Street retailer revealed the pay-offs as it announced a 25m slump into the red in the year to 29 March. The company was hit by protracted problems at a disastrous new central warehouse in Daventry, Northants, and poor trading that led to five profit warnings and a slump in its shares.
Former chief executive Chris Martin, who quit last July, has been paid compensation of 500,000, new boss Ben Gordon revealed today. One-time finance director Mark McMenemy, who also spent six months as acting chief executive after Martin's departure, left in March with 350,000. Ex-chairman Alan Smith left last August with 50,000.
The pay-offs will pour further fuel on City concerns that companies are not doing enough to limit pay-offs to directors who leave after poor performance.
Earlier this week, institutions voted down pay-off arrangements for GlaxoSmithKline chief executive JP Garnier that could have seen him walk away from the drugs giant with up to 22m.
Mothercare chief Gordon said the new team had sought to mitigate the compensation packages but insisted their hands were tied by their predecessors' contracts.
The company paid out 1.9m in redundancies last year, of which 900,000 went to the three directors and 1m - or about 33,000 each - to 30 other head office staff. One-off costs dragged the pre-tax loss to 24.8m. The previous year's 2.5p dividend has been axed
ainsoph - 22 May 2003 12:14 - 47 of 454
still ticking up @ 138/142 plus 14.29% on vols of 97OK
ainsoph - 22 May 2003 13:40 - 48 of 454
Worth mentioning that Baugur (icelandic group) has increased their stake to 3.54% saying it was attracted by the strong brand ...... hmmmmmmmmmmm ..... interesting
NOw up 14.69% on the day and more than 50% since we started
ains
NOw up 14.69% on the day and more than 50% since we started
ains
ainsoph - 22 May 2003 13:48 - 49 of 454
might also be worth mentioning that Stuart Rose is looking for a high profile job :-)
ainsoph - 22 May 2003 15:26 - 50 of 454
(AFX-Focus) 2003-05-22 15:10 GMT: ROUNDUP Mothercare shares rise 14 pct despite near 25 mln stg FY loss
LONDON (AFX) - Mothercare PLC, the maternity and baby goods retailer, slumped to a 24.8 mln stg full year pretax loss, passed on a dividend payment, and warned its turnaround programme will take three years to complete.
But its shares soared over 14 pct as the group detailed its recovery strategy, reported encouraging current trading, and ruled out a rumoured cash call.
Ben Gordon, the former Walt Disney executive who became Mothercare's chief executive last December, said a year to March 29 2003 pretax loss of 24.8 mln stg versus a profit of 0.1 mln stg last time was "unacceptable", reflecting historic problems within the retailer particularly in distribution.
Mothercare's adjusted operating loss for the year to March 29 -- excluding exceptional charges and one-off items of 14.5 mln stg -- was 10.4 mln stg, better than analysts' expectations of an operating loss of around 12 mln stg, but way off last year's operating profit of 3 mln stg.
Group sales were up 1.1 pct to 431.7 mln stg.
Basic loss per share totalled 22.0 pence versus earnings per share of 0.2 pence. No dividend was proposed versus a 2.5 pence payout last time.
In his five months at the helm Gordon has tackled the distribution problems, re-negotiating Mothercare's contract with Tibbett & Britten Group PLC. Product availability has improved 10 pct and distribution costs have been cut from 8 pct of sales in the last year to a current running rate of 7 pct, with a target of 6.5 pct by March 2004.
He said that when he took up his post the retailer had a 10 mln stg overdraft. By changing supplier terms and tightening up cash management the overdraft had reversed to a net cash balance of 7.7 mln stg by the March year-end.
Mothercare has also secured its long-term financing with a 20 mln stg three-year loan facility from HSBC, making a rights issue unnecessary.
"We now feel we have the capital and the cash to turn the business around over the next three years," said Gordon.
He has also moved to re-invigorate trading by introducing new ranges, buying best selling lines in greater depth and focusing on full price trade.
Although comparatives are weak Gordon said he was encouraged by current trading -- UK like-for-like sales up 2.8 pct in the seven weeks to May 16 and an increase in gross margin (estimated by analysts to be up over 200 basis points).
"The business is now on a stable platform and we have developed a plan to turn Mothercare around," he said.
The retailer is now focusing on five key areas to deliver the recovery -- the store proposition, product and sourcing, supply chain, customer service and infrastructure.
Mothercare currently trades from 173 high street outlets and 68 out-of-town stores.
Gordon said the retailer's key focus on the store side will be the in-town outlets which have been neglected in recent years. Two new high street formats -- Mother and Baby and Mothercare Lite -- are being tested, with encouraging results so far.
However, 15 underperforming high street outlets will close over the next 12 months.
Numis is forecasting a year to end-March 2004 pretax loss of 2 mln stg, despite comments from Mothercare that they would be disappointed not to return to the black.
Meanwhile, Baugur Group hf, the Icelandic retail group, announced it has raised its holding in Mothercare to 3.54 pct.
At 2.42 pm Mothercare shares were up 17-1/2 pence at 140, capitalising the company at 99 mln stg.
james.davey@afxnews.com
jdd/sk
LONDON (AFX) - Mothercare PLC, the maternity and baby goods retailer, slumped to a 24.8 mln stg full year pretax loss, passed on a dividend payment, and warned its turnaround programme will take three years to complete.
But its shares soared over 14 pct as the group detailed its recovery strategy, reported encouraging current trading, and ruled out a rumoured cash call.
Ben Gordon, the former Walt Disney executive who became Mothercare's chief executive last December, said a year to March 29 2003 pretax loss of 24.8 mln stg versus a profit of 0.1 mln stg last time was "unacceptable", reflecting historic problems within the retailer particularly in distribution.
Mothercare's adjusted operating loss for the year to March 29 -- excluding exceptional charges and one-off items of 14.5 mln stg -- was 10.4 mln stg, better than analysts' expectations of an operating loss of around 12 mln stg, but way off last year's operating profit of 3 mln stg.
Group sales were up 1.1 pct to 431.7 mln stg.
Basic loss per share totalled 22.0 pence versus earnings per share of 0.2 pence. No dividend was proposed versus a 2.5 pence payout last time.
In his five months at the helm Gordon has tackled the distribution problems, re-negotiating Mothercare's contract with Tibbett & Britten Group PLC. Product availability has improved 10 pct and distribution costs have been cut from 8 pct of sales in the last year to a current running rate of 7 pct, with a target of 6.5 pct by March 2004.
He said that when he took up his post the retailer had a 10 mln stg overdraft. By changing supplier terms and tightening up cash management the overdraft had reversed to a net cash balance of 7.7 mln stg by the March year-end.
Mothercare has also secured its long-term financing with a 20 mln stg three-year loan facility from HSBC, making a rights issue unnecessary.
"We now feel we have the capital and the cash to turn the business around over the next three years," said Gordon.
He has also moved to re-invigorate trading by introducing new ranges, buying best selling lines in greater depth and focusing on full price trade.
Although comparatives are weak Gordon said he was encouraged by current trading -- UK like-for-like sales up 2.8 pct in the seven weeks to May 16 and an increase in gross margin (estimated by analysts to be up over 200 basis points).
"The business is now on a stable platform and we have developed a plan to turn Mothercare around," he said.
The retailer is now focusing on five key areas to deliver the recovery -- the store proposition, product and sourcing, supply chain, customer service and infrastructure.
Mothercare currently trades from 173 high street outlets and 68 out-of-town stores.
Gordon said the retailer's key focus on the store side will be the in-town outlets which have been neglected in recent years. Two new high street formats -- Mother and Baby and Mothercare Lite -- are being tested, with encouraging results so far.
However, 15 underperforming high street outlets will close over the next 12 months.
Numis is forecasting a year to end-March 2004 pretax loss of 2 mln stg, despite comments from Mothercare that they would be disappointed not to return to the black.
Meanwhile, Baugur Group hf, the Icelandic retail group, announced it has raised its holding in Mothercare to 3.54 pct.
At 2.42 pm Mothercare shares were up 17-1/2 pence at 140, capitalising the company at 99 mln stg.
james.davey@afxnews.com
jdd/sk
ainsoph - 22 May 2003 17:34 - 51 of 454
22 May 2003, This Is Money
On the High street, Mothercare, the childresnwear retailer, rallied 19 1/2p to 142p. Investors shrugged off full-year losses of nearly 25m, concentrating instead on its recovery strategy, encouraging trading news and its decision to rule out a rumoured cash call.
2003 Associated Newspapers Ltd
On the High street, Mothercare, the childresnwear retailer, rallied 19 1/2p to 142p. Investors shrugged off full-year losses of nearly 25m, concentrating instead on its recovery strategy, encouraging trading news and its decision to rule out a rumoured cash call.
2003 Associated Newspapers Ltd
Censor
- 22 May 2003 18:14
- 52 of 454
[ idiot wrong thread edit - while we're here though...sing a song ]
ainsoph - 23 May 2003 08:14 - 53 of 454
Ticking up again @ 147/149
May 23, 2003
Mothercare losses fail to dim recovery hopes
By Sarah Butler TIMES
SHARES in Mothercare, the specialist retailer, surged 16 per cent yesterday as Ben Gordon, the new-broom chief executive, laid out his strategy for recovery.
Optimism for the future overshadowed the revelation that the struggling mother-and- baby chain had suffered a 25 million pre-tax loss for the year to March 29 and cancelled the dividend. Sales edged up 1.1 per cent to 431.7 million Exceptional costs included almost 1 million in compensation paid to three directors who quit last year. Redundancy payments to other staff cost a further 2 million, while store closures cost 3 million.
City analysts took heart from the 2.4 per cent rise in underlying sales in the past quarter and a 2.8 per cent increase in the first seven weeks of the new financial year.
Matthew McEachran, at Investec Securities, said: Only time will tell whether the market will get fully behind Mr Gordon, but today was an important first step. He made quite a compelling presentation, but we will require more evidence of an improving performance. He added that it was difficult to attribute strong sales in January to the influence of Mr Gordon, who would have been in the company for only a few weeks at that time.
Mr Gordon, who joined in December, said it would take three years to turn the business round.
He said: There have been lots of promises from Mothercare in the past that have never been delivered. I am asked all the time, Why is that? and one thing is that there has been little investment. A key part of the recovery is investment in systems and stores and putting the basic retailing disciplines back.
Mr Gordon plans to close 15 unprofitable stores, refresh high street outlets and invest in new IT systems to help to improve efficiency. A three-year 20 million debt facility with HSBC has been negotiated to fund the turnround.
However, Mothercares distribution centre in Daventry run by Tibbett & Britten, the source of many of the retailers problems, is to remain in place for the time being.
Mr Gordon said the distribution set-up would be reviewed over the next three years to devise the most cost-effective way of creating a more efficient system. He said that distribution costs had come down to 7 per cent of sales from above 8 per cent, but admitted: Its still expensive.
One analyst said that store refurbishments had been tried before to no avail and that a string of failed recovery plans from several previous management teams made it difficult to believe in the latest recovery plan. My worry is that they are under-cooking the likely costs of the turnaround programme, the analyst said.
Refurbishing the stores and redesigning the supply chain from scratch could end up costing quite a lot of money.
May 23, 2003
Mothercare losses fail to dim recovery hopes
By Sarah Butler TIMES
SHARES in Mothercare, the specialist retailer, surged 16 per cent yesterday as Ben Gordon, the new-broom chief executive, laid out his strategy for recovery.
Optimism for the future overshadowed the revelation that the struggling mother-and- baby chain had suffered a 25 million pre-tax loss for the year to March 29 and cancelled the dividend. Sales edged up 1.1 per cent to 431.7 million Exceptional costs included almost 1 million in compensation paid to three directors who quit last year. Redundancy payments to other staff cost a further 2 million, while store closures cost 3 million.
City analysts took heart from the 2.4 per cent rise in underlying sales in the past quarter and a 2.8 per cent increase in the first seven weeks of the new financial year.
Matthew McEachran, at Investec Securities, said: Only time will tell whether the market will get fully behind Mr Gordon, but today was an important first step. He made quite a compelling presentation, but we will require more evidence of an improving performance. He added that it was difficult to attribute strong sales in January to the influence of Mr Gordon, who would have been in the company for only a few weeks at that time.
Mr Gordon, who joined in December, said it would take three years to turn the business round.
He said: There have been lots of promises from Mothercare in the past that have never been delivered. I am asked all the time, Why is that? and one thing is that there has been little investment. A key part of the recovery is investment in systems and stores and putting the basic retailing disciplines back.
Mr Gordon plans to close 15 unprofitable stores, refresh high street outlets and invest in new IT systems to help to improve efficiency. A three-year 20 million debt facility with HSBC has been negotiated to fund the turnround.
However, Mothercares distribution centre in Daventry run by Tibbett & Britten, the source of many of the retailers problems, is to remain in place for the time being.
Mr Gordon said the distribution set-up would be reviewed over the next three years to devise the most cost-effective way of creating a more efficient system. He said that distribution costs had come down to 7 per cent of sales from above 8 per cent, but admitted: Its still expensive.
One analyst said that store refurbishments had been tried before to no avail and that a string of failed recovery plans from several previous management teams made it difficult to believe in the latest recovery plan. My worry is that they are under-cooking the likely costs of the turnaround programme, the analyst said.
Refurbishing the stores and redesigning the supply chain from scratch could end up costing quite a lot of money.
ainsoph - 23 May 2003 13:10 - 54 of 454
namnews
UK: MOTHERCARE TO CLOSE 15 TOWN CENTRE STORES
Mothercare will close 15 town-centre stores within the next year as it announced the beginning of a 3- year recovery process yesterday. The closures represent 8% of the retailer's 173-strong town-center store portfolio. CEO Ben Gordon said the stores that will close have consistently underperformed and are unlikely to see their performance improve with the measures currently being put in place. The group's 68 out-of-town stores will remain unaffected. Gordon yesterday outlined a three-year recovery program for Mothercare, which has failed to capitalize on the 600,000 births that occur in the U.K. annually.
Although the chains pre-tax loss was higher than had been expected, the share price rose almost 16 per cent to 142p, partly on news that Baugur, the Icelandic group with an eye for undervalued UK retailers, had taken a 3.67% stake. A spokesman for Baugur said it had wanted to raise its stake because it was attracted by the group's strong brand: "There is an underlying strength in the company and it represents good value. There was also some faint encouragement as underlying UK sales rose
UK: MOTHERCARE TO CLOSE 15 TOWN CENTRE STORES
Mothercare will close 15 town-centre stores within the next year as it announced the beginning of a 3- year recovery process yesterday. The closures represent 8% of the retailer's 173-strong town-center store portfolio. CEO Ben Gordon said the stores that will close have consistently underperformed and are unlikely to see their performance improve with the measures currently being put in place. The group's 68 out-of-town stores will remain unaffected. Gordon yesterday outlined a three-year recovery program for Mothercare, which has failed to capitalize on the 600,000 births that occur in the U.K. annually.
Although the chains pre-tax loss was higher than had been expected, the share price rose almost 16 per cent to 142p, partly on news that Baugur, the Icelandic group with an eye for undervalued UK retailers, had taken a 3.67% stake. A spokesman for Baugur said it had wanted to raise its stake because it was attracted by the group's strong brand: "There is an underlying strength in the company and it represents good value. There was also some faint encouragement as underlying UK sales rose
Haystack
- 03 Oct 2003 16:05
- 55 of 454
This is looking very good again. It has broken out into a new level. It is expected that there will be a very good trading statement and results in a few days.
Haystack
- 04 Oct 2003 10:39
- 56 of 454
http://www.citywire.co.uk/partners/default.asp?vid=59451
Gartmore's Williams shops at Mothercare
Published: 12:33 Fri 3 Oct 2003
Gartmore fund manager Gervais Williams argues Mothercare shares could double while motor retailers are still attractive investments.
Williams, an active trader, manages the 222.5 million Gartmore UK & Irish Smaller Companies unit trust as well as the 105 million Gartmore Growth Opportunities (GGO) and 70 million Gartmore Fledgling (GMF) investment trusts. He told Citywire he has recently been 'very, very active', and, despite the large rally among small-caps, can still find plenty of opportunities in the market.
For instance, last month he bought shares in Internet services group Easynet (ESY) during Marconi's sale of 44.7 million shares at 127p each, and has very recently picked up more. The shares are up 2p at 122.5p today.
He said: 'The share price has been weak recently, but the group has a lot of cashflow and it will be cashflow positive soon.'
He has also bought into troubled baby goods retailer Mothercare (MTC), which is also a significant investment for GAM's AAA-rated manager Andrew Green.
'It's had a good run but I still think there could be upside of 50%-100%,' Williams said. 'It has a lot of sceptics, but the group has lots of assets and has had a change of management.'
Mothercare shares have soared from just 85p in February to 221.5p, and are up 7.5p today ahead of a trading statement on Wednesday. In July the retailer, which has disappointed investors on numerous occasions, said like-for-like sales in the UK over the 15 weeks to 11 July rose 3.4%.
Gartmore's Williams shops at Mothercare
Published: 12:33 Fri 3 Oct 2003
Gartmore fund manager Gervais Williams argues Mothercare shares could double while motor retailers are still attractive investments.
Williams, an active trader, manages the 222.5 million Gartmore UK & Irish Smaller Companies unit trust as well as the 105 million Gartmore Growth Opportunities (GGO) and 70 million Gartmore Fledgling (GMF) investment trusts. He told Citywire he has recently been 'very, very active', and, despite the large rally among small-caps, can still find plenty of opportunities in the market.
For instance, last month he bought shares in Internet services group Easynet (ESY) during Marconi's sale of 44.7 million shares at 127p each, and has very recently picked up more. The shares are up 2p at 122.5p today.
He said: 'The share price has been weak recently, but the group has a lot of cashflow and it will be cashflow positive soon.'
He has also bought into troubled baby goods retailer Mothercare (MTC), which is also a significant investment for GAM's AAA-rated manager Andrew Green.
'It's had a good run but I still think there could be upside of 50%-100%,' Williams said. 'It has a lot of sceptics, but the group has lots of assets and has had a change of management.'
Mothercare shares have soared from just 85p in February to 221.5p, and are up 7.5p today ahead of a trading statement on Wednesday. In July the retailer, which has disappointed investors on numerous occasions, said like-for-like sales in the UK over the 15 weeks to 11 July rose 3.4%.
Stan
- 03 Dec 2009 14:59
- 57 of 454
Who said retail's dead? -):
Stan
- 20 Sep 2010 08:17
- 58 of 454
"Bartley Green pram gang mum refuses to name her accomplices
Sep 18 2010 by Steve Bradley, Birmingham Mail
A BIRMINGHAM single mum has admitted being part of a gang which brazenly stole expensive prams by removing security tags and simply pushing them out of Mothercare.
Emma Aldred has been warned she faces a stiff community sentence after she stole pushchairs worth 760 from the Merry Hill Centre.
But the three accomplices of mother-of-four Aldred, 35, remain at large after she refused to name them to police for fear of repercussions.
Aldred, of Romsley Road, Bartley Green was caught on CCTV acting as lookout during the theft of the two chairs worth 400 and 360 from Mothercare World on May 22.
Prosecutor Kulbir Paul told Dudley Magistrates Court: This lady along with three others have entered Mothercare World and were picked up on CCTV.
They took the pushchairs into a cubicle, into the disabled toilets, where they were de-tagged. This ladys role is the lookout.
He said Aldred, who pleaded guilty to theft, made a full and frank admission when police visited her at home."
----------------------------------------------------------------------------------------------
Now that some of the profits have stopped flying out of the door the SP may resume it's upward trend again -):
Sep 18 2010 by Steve Bradley, Birmingham Mail
A BIRMINGHAM single mum has admitted being part of a gang which brazenly stole expensive prams by removing security tags and simply pushing them out of Mothercare.
Emma Aldred has been warned she faces a stiff community sentence after she stole pushchairs worth 760 from the Merry Hill Centre.
But the three accomplices of mother-of-four Aldred, 35, remain at large after she refused to name them to police for fear of repercussions.
Aldred, of Romsley Road, Bartley Green was caught on CCTV acting as lookout during the theft of the two chairs worth 400 and 360 from Mothercare World on May 22.
Prosecutor Kulbir Paul told Dudley Magistrates Court: This lady along with three others have entered Mothercare World and were picked up on CCTV.
They took the pushchairs into a cubicle, into the disabled toilets, where they were de-tagged. This ladys role is the lookout.
He said Aldred, who pleaded guilty to theft, made a full and frank admission when police visited her at home."
----------------------------------------------------------------------------------------------
Now that some of the profits have stopped flying out of the door the SP may resume it's upward trend again -):
mitzy - 05 Oct 2011 12:01 - 59 of 454
A year later and retail profit is 90% down..wow.
Could they fall to sub 100p again.
Could they fall to sub 100p again.
skinny
- 05 Oct 2011 12:20
- 60 of 454
Yes seems a bit harsh - I've had a small dabble @207.1 - look at the volume.
mitzy - 05 Oct 2011 12:38 - 61 of 454
Its getting worse out there in retail land so be careful.
skinny
- 05 Oct 2011 15:17
- 62 of 454
I got stopped earlier @220.1 +13 and I'm contemplating another stab if it goes much lower - incredible volume (see post 60).
mitzy - 05 Oct 2011 15:57 - 63 of 454
Well done skinny.
skinny
- 05 Oct 2011 16:00
- 64 of 454
Thanks mitzy - a bit rash in hindsight! Over 6 million shares traded now and back to 2003 levels.
mitzy - 05 Oct 2011 16:18 - 65 of 454
150p next ..!
skinny
- 05 Oct 2011 16:23
- 66 of 454
Quite a dramatic intraday chart.
Stan
- 05 Oct 2011 16:23
- 67 of 454
MTC,s SP has been hit hard over recent years on bad home news despite the better news on their international numbers.. but of course they are in the dreaded retail sector. SP down 41% at the mo.
skinny
- 05 Oct 2011 16:46
- 68 of 454
I'm not sure why the chart isn't showing the correct price, but it closed @179.72 -42.03% Assuming the dividend were to be maintained - that gives a 10.18% yield.
mitzy - 06 Oct 2011 12:48 - 69 of 454
Peel Runt have a 150p target.
mitzy - 31 Oct 2011 08:32 - 70 of 454
Cant see the dividend being held .
dreamcatcher
- 13 Nov 2011 17:56
- 71 of 454
There are few retailers who demonstrate the desperate state of the industry more than Mothercare .
A good brand, in a market that should be guaranteed to steadily grow the birth rate in Britain in recent years has kept on climbing combined with an expanding overseas business should be a recipe for success. But Mothercare has suffered from a series of profit warnings, the most recent one resulting in the swift departure of chief executive Ben Gordon.
Mothercare has been under attack at the value end by supermarkets, which are able to undercut it, and at the top end by specialist online retailers who can offer either more attractive, or more fashionable baby equipment and clothes.
Shareholders will be keen to hear from the chairman Alan Parker, the man credited with turning Whitbread into such a successful hotels and restaurant business, about how he plans to arrest the decline and how the search for a new chief executive is going.
No analyst has forecast what the half-year profit will be, but consensus for full-year profit is 5.31m, down from 28.5m.
A good brand, in a market that should be guaranteed to steadily grow the birth rate in Britain in recent years has kept on climbing combined with an expanding overseas business should be a recipe for success. But Mothercare has suffered from a series of profit warnings, the most recent one resulting in the swift departure of chief executive Ben Gordon.
Mothercare has been under attack at the value end by supermarkets, which are able to undercut it, and at the top end by specialist online retailers who can offer either more attractive, or more fashionable baby equipment and clothes.
Shareholders will be keen to hear from the chairman Alan Parker, the man credited with turning Whitbread into such a successful hotels and restaurant business, about how he plans to arrest the decline and how the search for a new chief executive is going.
No analyst has forecast what the half-year profit will be, but consensus for full-year profit is 5.31m, down from 28.5m.
skinny
- 17 Nov 2011 07:41
- 72 of 454
Interim Results.
Financial Results
Worldwide network sales(1) 623.9m, up 5.4% (2010: 592.0m)
Group sales 412.9m, up 4.0% (2010: 397.1m)
Group underlying loss(1) before tax 4.4m (2010: profit of 12.2m)
One-off exceptional charge of 78.5m (59.6m non cash, 18.9m cash). Includes write-down of UK goodwill and other intangibles (55.0m) and UK property restructure charge (19.8m)
Group loss before tax after exceptional charge and other non-underlying items 81.4m (2010: profit of 0.3m)
Net debt 24.6m (2010: 8.6m); total credit facility 90.0m
Underlying basic EPS 5.1p loss (2010: 10.3p profit)
Interim dividend 2.0p (2010: 6.4p)
Key Highlights
International performance:
Strong first half with International retail sales(1) 338.3m (2010: 292.5m), up 15.7%
81 new overseas stores taking total to 975 in 55 countries at H1. Opened 350th overseas Early Learning Centre
First stores opened in Latin America; new joint venture in Ukraine
UK performance:
Weak first half with total UK sales 281.1m, down 4.3%. Like-for-like sales(1) down 7.0% (down 6.0% inc. VAT). Direct in Home sales 42.6m, down 4.2%. Gross margin down 4.0%
New Mothercare website on target for launch in 2012; Wholesale sales 18.4m (2010: 8.3m), up 121.7%
UK property restructure announced in May 2011 on track to deliver significant benefits over next 18 months, targeting a reduced portfolio of 266 stores
Financial Results
Worldwide network sales(1) 623.9m, up 5.4% (2010: 592.0m)
Group sales 412.9m, up 4.0% (2010: 397.1m)
Group underlying loss(1) before tax 4.4m (2010: profit of 12.2m)
One-off exceptional charge of 78.5m (59.6m non cash, 18.9m cash). Includes write-down of UK goodwill and other intangibles (55.0m) and UK property restructure charge (19.8m)
Group loss before tax after exceptional charge and other non-underlying items 81.4m (2010: profit of 0.3m)
Net debt 24.6m (2010: 8.6m); total credit facility 90.0m
Underlying basic EPS 5.1p loss (2010: 10.3p profit)
Interim dividend 2.0p (2010: 6.4p)
Key Highlights
International performance:
Strong first half with International retail sales(1) 338.3m (2010: 292.5m), up 15.7%
81 new overseas stores taking total to 975 in 55 countries at H1. Opened 350th overseas Early Learning Centre
First stores opened in Latin America; new joint venture in Ukraine
UK performance:
Weak first half with total UK sales 281.1m, down 4.3%. Like-for-like sales(1) down 7.0% (down 6.0% inc. VAT). Direct in Home sales 42.6m, down 4.2%. Gross margin down 4.0%
New Mothercare website on target for launch in 2012; Wholesale sales 18.4m (2010: 8.3m), up 121.7%
UK property restructure announced in May 2011 on track to deliver significant benefits over next 18 months, targeting a reduced portfolio of 266 stores
mitzy - 17 Nov 2011 12:55 - 73 of 454
Chart says 100p
santafee - 17 Nov 2011 13:07 - 74 of 454
Results grimmer than I expected so sold @ 149
mitzy - 17 Nov 2011 13:19 - 75 of 454
best thing sante.
cynic
- 17 Nov 2011 13:35
- 76 of 454
uk retailers have been a bad bet for the last 12 months, and bad results from mtc have been forecast for weeks if not months, with a sell recommendation from various sources
hangon - 17 Nov 2011 16:24 - 77 of 454
Difficult to see where UK_retail will pick-up. On-line is so much easier, althoug a Day-out shopping is what women want, I guess in these difficult times* a bargain on-line is just the ticket - - - and you don't get a Parking ticket, train-delays, mugged/jossled - and so on.
* IMHO, these times are likely to be for another few years, possibly with a good week during the Olympics...
Grr.
I hold a few M&S.
* IMHO, these times are likely to be for another few years, possibly with a good week during the Olympics...
Grr.
I hold a few M&S.
cynic
- 17 Nov 2011 16:37
- 78 of 454
i wouldn't buy the likes of ASC either
Stan
- 22 Nov 2011 15:51
- 79 of 454
Non-Ex. Director buys 30,000 shares. http://moneyam.uk-wire.com/cgi-bin/articles/20111122151041H5868.html
mitzy - 11 Dec 2011 08:40 - 80 of 454
Take-over talk in todays papers 10% premium.
dreamcatcher
- 11 Dec 2011 17:14
- 81 of 454
Cinven mulling $234 million offer for Mothercare
{ 16:34, Sunday 11 December 2011
LONDON (Reuters) - Buyout firm Cinven is assessing a 150 million pound-plus ($234 million) takeover of mother and baby products retailer Mothercare (LSE: MTC.L - news) , the Sunday Telegraph reported.
The newspaper said Cinven is looking at the retailer with a view to making a cash offer but had yet to approach Mothercare's board. A source familiar with the situation told Reuters on Sunday that Mothercare had not received any approaches.
The Sunday Telegraph said Cinven was most interested in the international potential for the brand, following its franchising success in countries as diverse as Greece and Iraq.
It also believes its performance in Britain could be revived under the right management, the newspaper added.
Meanwhile, the Sunday Times reported Cinven wants to team up with an experienced retail head to spearhead the plans with the favourite being Paul Mason, chairman of Cath Kidston, the homewear and fashion retailer.
The Sunday Times said Mothercare's British stores could be jettisoned by Cinven so it can focus on the better-performing overseas operation.
Mothercare is battling intense competition in Britain from supermarkets and internet players, as well as consumer uncertainty in the face of tough economic headwinds.
In November, it launched a strategic review of its British business having detailed plans in May to close about 110 stores.
Mothercare said it would not comment on market rumour or speculation. Cinven could not be reached for comment.
{ 16:34, Sunday 11 December 2011
LONDON (Reuters) - Buyout firm Cinven is assessing a 150 million pound-plus ($234 million) takeover of mother and baby products retailer Mothercare (LSE: MTC.L - news) , the Sunday Telegraph reported.
The newspaper said Cinven is looking at the retailer with a view to making a cash offer but had yet to approach Mothercare's board. A source familiar with the situation told Reuters on Sunday that Mothercare had not received any approaches.
The Sunday Telegraph said Cinven was most interested in the international potential for the brand, following its franchising success in countries as diverse as Greece and Iraq.
It also believes its performance in Britain could be revived under the right management, the newspaper added.
Meanwhile, the Sunday Times reported Cinven wants to team up with an experienced retail head to spearhead the plans with the favourite being Paul Mason, chairman of Cath Kidston, the homewear and fashion retailer.
The Sunday Times said Mothercare's British stores could be jettisoned by Cinven so it can focus on the better-performing overseas operation.
Mothercare is battling intense competition in Britain from supermarkets and internet players, as well as consumer uncertainty in the face of tough economic headwinds.
In November, it launched a strategic review of its British business having detailed plans in May to close about 110 stores.
Mothercare said it would not comment on market rumour or speculation. Cinven could not be reached for comment.
cynic
- 12 Dec 2011 07:55
- 82 of 454
if it's a bare 10% premium over friday's close, not worth chasing
Stan
- 12 Dec 2011 07:59
- 83 of 454
Agree, 10% is no where near tempting.
dreamcatcher
- 07 Jan 2012 17:09
- 84 of 454
Mothercare is to report Thursday and it has seen its shares after gloomy first-half results in November With the price down 75% since the start of 2011, some might be thinking there's a recovery opportunity there, but analysts are expecting to hear of a further fall in revenue.
skinny
- 12 Jan 2012 07:15
- 85 of 454
Third Quarter Trading Update.
Mothercare plc updates on trading for the 13 weeks ended 7 January 2012 ("third quarter").
Group performance : third quarter
§ Worldwide network sales(1) up 3.0%
§ Total group sales down 1.2%
§ International retail sales(1) up 15.0% (up 18.5% at constant exchange rates)
§ UK like-for-like sales(1) down 3.0%(2)
§ Total UK sales down 6.9% mainly due to planned store closures
§ UK Direct in Home sales down 2.2%(2)
Group performance : year-to-date
§ Worldwide network sales(1) up 4.5%
§ Total group sales up 2.0%
§ International retail sales(1) up 15.5%
§ UK like-for-like sales down 5.4%
§ Total UK sales down 5.3%
§ UK Direct in Home sales down 3.4%
Mothercare plc updates on trading for the 13 weeks ended 7 January 2012 ("third quarter").
Group performance : third quarter
§ Worldwide network sales(1) up 3.0%
§ Total group sales down 1.2%
§ International retail sales(1) up 15.0% (up 18.5% at constant exchange rates)
§ UK like-for-like sales(1) down 3.0%(2)
§ Total UK sales down 6.9% mainly due to planned store closures
§ UK Direct in Home sales down 2.2%(2)
Group performance : year-to-date
§ Worldwide network sales(1) up 4.5%
§ Total group sales up 2.0%
§ International retail sales(1) up 15.5%
§ UK like-for-like sales down 5.4%
§ Total UK sales down 5.3%
§ UK Direct in Home sales down 3.4%
BAYLIS
- 09 Feb 2012 20:15
- 86 of 454
Stan
- 09 Feb 2012 21:19
- 87 of 454
Mostly down to this Baylis http://www.moneyam.com/action/news/showArticle?id=4305580
Chris Carson
- 11 Apr 2012 20:58
- 88 of 454
Just noticed the rise in these today. Haven't traded them for yonks, is there renewed optimism? Checked the website, reporting tomorrow but divis are not mentioned anywhere, anyone any id
eas or info ?
eas or info ?
skinny
- 12 Apr 2012 07:21
- 89 of 454
Trading Update.
Trading update
The financial year ended 31 March 2012 contained 53 weeks. The trading data below is on a fully comparable basis for 52 weeks. Statutory 53 week data is set out in note 1.
Full year (52 weeks)
· Worldwide network sales(2) up 4.3%
· Total group sales up 0.7%
· International retail sales(2) up 16.0%
· Total UK sales down 6.3%
· UK like-for-like sales(2) down 6.2%
· Direct in Home sales down 3.4%
Fourth quarter (12 weeks)
· Worldwide network sales(2) up 4.5%
· Total group sales down 4.2%
· International retail sales(2) up 18.0%
· Total UK sales down 9.5%
· UK like-for-like sales(2) down 8.2%
· Direct in Home sales down 3.2%
Trading update
The financial year ended 31 March 2012 contained 53 weeks. The trading data below is on a fully comparable basis for 52 weeks. Statutory 53 week data is set out in note 1.
Full year (52 weeks)
· Worldwide network sales(2) up 4.3%
· Total group sales up 0.7%
· International retail sales(2) up 16.0%
· Total UK sales down 6.3%
· UK like-for-like sales(2) down 6.2%
· Direct in Home sales down 3.4%
Fourth quarter (12 weeks)
· Worldwide network sales(2) up 4.5%
· Total group sales down 4.2%
· International retail sales(2) up 18.0%
· Total UK sales down 9.5%
· UK like-for-like sales(2) down 8.2%
· Direct in Home sales down 3.2%
Chris Carson
- 12 Apr 2012 07:49
- 90 of 454
Thanks skinny, not great then :O)
skinny
- 12 Apr 2012 07:55
- 91 of 454
Looks like they should leave the UK altogether!
Chris Carson
- 12 Apr 2012 08:11
- 92 of 454
Aye think so too, yet up on the open albeit no great volume.
Chris Carson
- 12 Apr 2012 09:57
- 93 of 454
Incredible up nearly 2%, am I missing something here skinny? still low volume. When it runs out of steam has to be a short hasn't it?
skinny
- 12 Apr 2012 10:06
- 94 of 454
They seem to be proactive in addressing their problems and are increasing overseas profits - they now have over 1,000 overseas stores.
I guess the perception is they are making the right moves.
I guess the perception is they are making the right moves.
Chris Carson
- 12 Apr 2012 10:15
- 95 of 454
What's the difference in buying internationally, surely no different to the UK ie cheaper outlets on internet to buy from as here. Are there goods any cheaper than in the UK? Obviously market so far seems impressed.
Chris Carson
- 16 Apr 2012 13:28
- 96 of 454
Went short on the spreads on Friday @ 177.7 going well today. Moved stop to 172.7 to lock in + 5.0, target 160.0.
dreamcatcher
- 18 Jul 2012 18:36
- 97 of 454
Thursday -
Mothercare is another retailer that is likely to have been hit by bad weather, and Peel Hunt is expecting the baby-wear and toddler goods seller's first quarter to see a continuation of the poor trading trends seen in the previous quarter. "We expect LFL sales to fall by c8%, with Direct negatively impacted by the platform change and gross margin also down yoy [year-on-year]," the broker said. "In short, this is not an instant recovery plan, although we expect international growth of 15-20%," Peel Hunt added. "From recent marketing activity, we sense the majority of investors are open to Mothercare's three-year recovery plan. For our own part, we rate the new management team highly, but see potential for 2013E UK losses to widen before initiatives gain traction in 2014E," the broker said
Mothercare is another retailer that is likely to have been hit by bad weather, and Peel Hunt is expecting the baby-wear and toddler goods seller's first quarter to see a continuation of the poor trading trends seen in the previous quarter. "We expect LFL sales to fall by c8%, with Direct negatively impacted by the platform change and gross margin also down yoy [year-on-year]," the broker said. "In short, this is not an instant recovery plan, although we expect international growth of 15-20%," Peel Hunt added. "From recent marketing activity, we sense the majority of investors are open to Mothercare's three-year recovery plan. For our own part, we rate the new management team highly, but see potential for 2013E UK losses to widen before initiatives gain traction in 2014E," the broker said
skinny
- 18 Jul 2012 19:58
- 98 of 454
I think these may surprise.
Stan
- 19 Jul 2012 07:00
- 99 of 454
I do hope so Skinny, on the upside that is.
skinny
- 19 Jul 2012 07:06
- 100 of 454
Interim Management Statement
Group performance, first quarter
· Worldwide network sales(1) up 1.1%
· Total Group sales down 4.4%
· International retail sales(1) up 11.0%
· Total UK sales down 10.2%
· UK Direct in Home sales down 7.1%
· UK like-for-like sales(1) down 6.7%
Group performance, first quarter
· Worldwide network sales(1) up 1.1%
· Total Group sales down 4.4%
· International retail sales(1) up 11.0%
· Total UK sales down 10.2%
· UK Direct in Home sales down 7.1%
· UK like-for-like sales(1) down 6.7%
dreamcatcher
- 19 Jul 2012 07:10
- 101 of 454
Ouch, thats going to hurt at 8.00 am.Uk very poor.
Stan
- 19 Jul 2012 07:11
- 102 of 454
Indeed.
ED: Just to qualify, the UK situation is not a surprise as this has been on the decline for a few years now but unfortunately MTC seems to be priced mainly on the UK business and not along side their ever expanding worldwide expansion.
ED: Just to qualify, the UK situation is not a surprise as this has been on the decline for a few years now but unfortunately MTC seems to be priced mainly on the UK business and not along side their ever expanding worldwide expansion.
skinny
- 19 Jul 2012 07:13
- 103 of 454
I restate my post 91!
dreamcatcher
- 19 Jul 2012 07:16
- 104 of 454
Agree skinny
cynic
- 19 Jul 2012 07:17
- 105 of 454
post 98 implied exactly the opposite!
dreamcatcher
- 19 Jul 2012 07:18
- 106 of 454
They will surprise. :-)) at the fall of the sp
skinny
- 19 Jul 2012 07:20
- 107 of 454
Yes - just shows you!
That was based on talking to a friend who's daughter is reasonably well placed. So where to throw the dice today - here or BVIC,
That was based on talking to a friend who's daughter is reasonably well placed. So where to throw the dice today - here or BVIC,
Stan
- 19 Jul 2012 07:45
- 108 of 454
"So where to throw the dice today - here or BVIC," How about the betting shop? -):
skinny
- 19 Jul 2012 08:23
- 109 of 454
Well an nice early "surprise" for you Stan - up 5.5% as I type.
cynic
- 19 Jul 2012 08:32
- 110 of 454
+15p .... be thankful and sell!
Stan
- 19 Jul 2012 09:07
- 111 of 454
Up now over 7% Skinny, a long way to go for me but reassuring it's going the right way.. for the moment.
skinny
- 19 Jul 2012 09:32
- 112 of 454
Stan - I haven't traded them since last autumn, but being a recent grandparent, I follow them a bit more closely!
Anyway up 24.75 +12.1% as I type.
Anyway up 24.75 +12.1% as I type.
skinny
- 06 Aug 2012 09:37
- 113 of 454
Stan, I've joined you here this morning.
;MA(50);MA(200)&IND=RSI(14);MTM(6,6);VOLMA(60)&Layout=2Line;Default;Price;HisDate&XCycle=&XFormat=)
Stan
- 06 Aug 2012 10:10
- 114 of 454
Haven't traded them, but have noticed that they do move about a bit for no apparent reason, so good luck.
skinny
- 17 Oct 2012 10:50
- 115 of 454
Trading statement due tomorrow.
skinny
- 17 Oct 2012 13:22
- 116 of 454
12 month high today 236.
;MA(50);MA(200)&Layout=2Line;Default;Price;HisDate&XCycle=&XFormat=)
skinny
- 17 Oct 2012 15:20
- 117 of 454
Just sold half here.
Stan
- 17 Oct 2012 15:36
- 118 of 454
Sounds good Skinny, As I say above I have noticed that it does move about a bit so a "sell on the news" situation would not surprise me.
skinny
- 17 Oct 2012 15:38
- 119 of 454
Depending on the news tomorrow, they could do a 'halfords' (or not) I'm not brave enough to leave it all on the table.
Stan
- 17 Oct 2012 15:52
- 120 of 454
Agree, its only 50/50 for me.
skinny
- 18 Oct 2012 07:05
- 121 of 454
Interim Management Statement
Group sales
Worldwide network sales strengthened during the second quarter to deliver growth of 2.1% for the first half of the year. International retail sales grew by 10.8% over the same period. Our forward orders and store opening plans for International indicate ongoing growth opportunities across the 60 territories in which we currently trade. This growth is offset by a UK sales decline of 8.3% and reflects our UK (and predominantly ELC focussed) store closure programme. Group sales, which include UK retail sales and receipts from our franchise partners, were down 5.9%. Working capital and cash have been tightly controlled.
International
International grew retail sales by 15.2% in constant currency while reported retail sales, impacted by adverse currency moves, were up 10.8% during the first half of the year. Asia Pacific and the Middle East & Africa continue to perform strongly and at the top end of our expectations while Europe remains weaker, particularly across our Eurozone markets. We opened a net 70 stores during the first half of the year and had 1,098 stores at the end of the period. Our full year goal of 150 stores and circa 16% space growth remains on track.
UK
Our strategy to transform the UK is based on improving product, customer service and availability while at the same time achieving targeted cost savings and cash margin. We now operate from 280 stores (203 Mothercare and 77 ELC) in the UK, having closed 31 stores versus our full year target of circa 50. Total UK sales were down 8.3% reflecting the impact of these closures, while UK like-for-like sales grew 0.3% during the second quarter, with a decline of 3.4% for the half year. In addition, following the transition to a new online platform, Direct in Home has returned to growth, up 11.0% for the second quarter and up 0.9% for the half year.
Group sales
Worldwide network sales strengthened during the second quarter to deliver growth of 2.1% for the first half of the year. International retail sales grew by 10.8% over the same period. Our forward orders and store opening plans for International indicate ongoing growth opportunities across the 60 territories in which we currently trade. This growth is offset by a UK sales decline of 8.3% and reflects our UK (and predominantly ELC focussed) store closure programme. Group sales, which include UK retail sales and receipts from our franchise partners, were down 5.9%. Working capital and cash have been tightly controlled.
International
International grew retail sales by 15.2% in constant currency while reported retail sales, impacted by adverse currency moves, were up 10.8% during the first half of the year. Asia Pacific and the Middle East & Africa continue to perform strongly and at the top end of our expectations while Europe remains weaker, particularly across our Eurozone markets. We opened a net 70 stores during the first half of the year and had 1,098 stores at the end of the period. Our full year goal of 150 stores and circa 16% space growth remains on track.
UK
Our strategy to transform the UK is based on improving product, customer service and availability while at the same time achieving targeted cost savings and cash margin. We now operate from 280 stores (203 Mothercare and 77 ELC) in the UK, having closed 31 stores versus our full year target of circa 50. Total UK sales were down 8.3% reflecting the impact of these closures, while UK like-for-like sales grew 0.3% during the second quarter, with a decline of 3.4% for the half year. In addition, following the transition to a new online platform, Direct in Home has returned to growth, up 11.0% for the second quarter and up 0.9% for the half year.
goldfinger
- 18 Oct 2012 07:10
- 122 of 454
Dissapointing results. No real recovery going
on in UK Sales at -8.3% for 28 week period.
Too little too late.
Still a long way to go here on the major contributor
to overall group Sales.
Can a forward P/E of 38 can be justified, I dont think
so.
International sales we knew would be good and were in the SP.
I expect Brokers to maintain Sell recommendations,
perhaps downgrade.
on in UK Sales at -8.3% for 28 week period.
Too little too late.
Still a long way to go here on the major contributor
to overall group Sales.
Can a forward P/E of 38 can be justified, I dont think
so.
International sales we knew would be good and were in the SP.
I expect Brokers to maintain Sell recommendations,
perhaps downgrade.
goldfinger
- 18 Oct 2012 07:12
- 123 of 454
goldfinger
- 18 Oct 2012 07:19
- 124 of 454
A forward P/E of 38 cannot be justified
on that report no way.
on that report no way.
goldfinger
- 18 Oct 2012 07:39
- 125 of 454
BRIEF-Mothercare says intnl says growth target may be out of reach18 Oct 2012 - 07:35
LONDON, Oct 18 (Reuters) - Mothercare PLC : * CEO Simon Calver says making FY international sales growth target of 20 percent "is going to be a challenge" ((London Equities Newsroom; +44 20 7542 7717)) ((For more news, please click here [MTC.L]))
LONDON, Oct 18 (Reuters) - Mothercare PLC : * CEO Simon Calver says making FY international sales growth target of 20 percent "is going to be a challenge" ((London Equities Newsroom; +44 20 7542 7717)) ((For more news, please click here [MTC.L]))
Stan
- 18 Oct 2012 07:44
- 126 of 454
No real "new" news as far as UK sales are concerned, and will be marked down on that alone... But that's no surprise, as these are nearly always only judged on their UK numbers whilst their International growth is virtually ignored. So short term SP. to be hammered, But medium/long-term on the up. IMHO.
goldfinger
- 18 Oct 2012 07:47
- 127 of 454
Looks way way to expensive.
A forward P/E of 37.42 to 2013 !!!!!!!!!!!!!
Wouldnt want to buy on that rating.
Far too expensive.
Mothercare PLC
FORECASTS 2013
Date Rec Pre-tax (£) EPS (p) DPS (p)
Panmure Gordon
15-10-12 SELL 4.99 4.49 15.20
Peel Hunt
12-10-12 HOLD 5.37 4.47 25.11
Seymour Pierce
12-10-12 SELL 8.00 6.70 19.60
Numis Securities Ltd
25-09-12 BUY 8.10 9.10 29.50
Investec Securities
11-09-12 SELL 8.00 6.80 6.00
2013
Pre-tax (£) EPS (p) DPS (p)
Consensus 6.70 5.93 6.00
1 Month Change -0.33 -0.32 0.00
3 Month Change -0.03 -0.16 0.00
GROWTH
2012 (A) 2013 (E)
Norm. EPS 63.81% -72.13%
DPS -22.74% -56.12%
INVESTMENT RATIOS
2012 (A) 2013 (E)
EBITDA £25.88m £28.75m
EBIT £8.57m £11.10m
Dividend Yield 6.16% 2.70%
Dividend Cover 1.56x 0.99x
PER 10.43x 37.42x
PEG 0.16f -0.52f
Net Asset Value PS 26.85p 62.60p
Hems/Premium
A forward P/E of 37.42 to 2013 !!!!!!!!!!!!!
Wouldnt want to buy on that rating.
Far too expensive.
Mothercare PLC
FORECASTS 2013
Date Rec Pre-tax (£) EPS (p) DPS (p)
Panmure Gordon
15-10-12 SELL 4.99 4.49 15.20
Peel Hunt
12-10-12 HOLD 5.37 4.47 25.11
Seymour Pierce
12-10-12 SELL 8.00 6.70 19.60
Numis Securities Ltd
25-09-12 BUY 8.10 9.10 29.50
Investec Securities
11-09-12 SELL 8.00 6.80 6.00
2013
Pre-tax (£) EPS (p) DPS (p)
Consensus 6.70 5.93 6.00
1 Month Change -0.33 -0.32 0.00
3 Month Change -0.03 -0.16 0.00
GROWTH
2012 (A) 2013 (E)
Norm. EPS 63.81% -72.13%
DPS -22.74% -56.12%
INVESTMENT RATIOS
2012 (A) 2013 (E)
EBITDA £25.88m £28.75m
EBIT £8.57m £11.10m
Dividend Yield 6.16% 2.70%
Dividend Cover 1.56x 0.99x
PER 10.43x 37.42x
PEG 0.16f -0.52f
Net Asset Value PS 26.85p 62.60p
Hems/Premium
skinny
- 18 Oct 2012 08:18
- 128 of 454
I'm out of the remainder - good luck Stan.
goldfinger
- 18 Oct 2012 08:19
- 129 of 454
First of broker updates in....
18 Oct Mothercare PLC MTC Seymour Pierce Sell 0.00 232.50 145.00 145.00 Retains
145 SP target.
18 Oct Mothercare PLC MTC Seymour Pierce Sell 0.00 232.50 145.00 145.00 Retains
145 SP target.
Stan
- 18 Oct 2012 08:36
- 130 of 454
Well done Skinny, Surprisingly for me up over 7% so far.
skinny
- 18 Oct 2012 08:40
- 131 of 454
Overall I made @17% - now I'm out it should rocket! :-)
Stan
- 18 Oct 2012 08:46
- 132 of 454
That's the way to do it.. So some puppet once said -):
goldfinger
- 18 Oct 2012 09:16
- 133 of 454
Closed short. called it wrong. Still think they are hiding margin erossion.
Cant win em all.
Good luck to bulls.
Cant win em all.
Good luck to bulls.
Stan
- 18 Oct 2012 13:35
- 134 of 454
Pigging ell.. up 14.5% at the mo!
ahoj
- 18 Oct 2012 13:40
- 135 of 454
Good for the banks who offered loans, hold shares.
skinny
- 18 Oct 2012 14:16
- 136 of 454
Stan - I did the same with HFD recently - played the long game but sold too early.
Still a profits a profit etc.
Still a profits a profit etc.
Stan
- 18 Oct 2012 15:16
- 137 of 454
Struggled with that feeling myself in the past but learning to get over it by thinking how I would and have felt had I made a loss.
goldfinger
- 18 Oct 2012 16:44
- 138 of 454
Got back in early to cover deficit this morning ...well 400 quid worth down on short deal.
Hope I didnt -iss on your parade skinny. sincere apoligies if i did. Owe you one.
Hope I didnt -iss on your parade skinny. sincere apoligies if i did. Owe you one.
skinny
- 19 Oct 2012 07:39
- 139 of 454
Not at all GF - we are all grown ups! :-)
Stan
- 19 Oct 2012 07:43
- 140 of 454
.. This is true -):
skinny
- 25 Oct 2012 12:32
- 141 of 454
dreamcatcher
- 18 Nov 2012 22:07
- 142 of 454
Thursday November 22 =
• The progress of Simon Calver’s drive to turn around Mothercare will be revealed when the baby clothing and equipment retailer posts interim results. In October, Mr Calver said his plans were “on track” after a 0.3pc rise in UK like-for-like sales over the previous quarter. The company’s share price has enjoyed a good run this year , but Mothercare is still in the eye of the high street storm. Analysts at Panmure Gordon are forecasting that Mothercare will post a loss before tax of £4.6m for the first half . They add: “We are not convinced this potential recovery is based on sustainable gross margins, and we are also now faced with a disappointing result in the international division .”
• The progress of Simon Calver’s drive to turn around Mothercare will be revealed when the baby clothing and equipment retailer posts interim results. In October, Mr Calver said his plans were “on track” after a 0.3pc rise in UK like-for-like sales over the previous quarter. The company’s share price has enjoyed a good run this year , but Mothercare is still in the eye of the high street storm. Analysts at Panmure Gordon are forecasting that Mothercare will post a loss before tax of £4.6m for the first half . They add: “We are not convinced this potential recovery is based on sustainable gross margins, and we are also now faced with a disappointing result in the international division .”
skinny
- 21 Nov 2012 16:34
- 143 of 454
Interims tomorrow!
goldfinger
- 21 Nov 2012 16:45
- 144 of 454
Yep and this time have to reveal the margins!!!!!
Be carefull guys.
Be carefull guys.
skinny
- 22 Nov 2012 07:01
- 145 of 454
Half Yearly Report
Key highlights for first half
* Work on the Transformation and Growth plan is progressing well, with store
portfolio restructuring on track, new store format launched, management team
restructured and strengthened, website relaunched, improved value
proposition, new ranges across all three business segments and improved
focus on customer service
* Worldwide network sales up 2.1% at GBP636.8 million, with International retail
sales up 10.8% and UK retail sales down 8.6%
* International like-for-like sales up 4.4% and UK like-for-like sales
performance improved, with decline reduced to -3.4%
* Group underlying loss before tax reduced to GBP0.6 million (H1 2011/12: loss
of GBP4.4m)
* Net debt of GBP29.8 million, following tight control of working capital and
cash
Key highlights for first half
* Work on the Transformation and Growth plan is progressing well, with store
portfolio restructuring on track, new store format launched, management team
restructured and strengthened, website relaunched, improved value
proposition, new ranges across all three business segments and improved
focus on customer service
* Worldwide network sales up 2.1% at GBP636.8 million, with International retail
sales up 10.8% and UK retail sales down 8.6%
* International like-for-like sales up 4.4% and UK like-for-like sales
performance improved, with decline reduced to -3.4%
* Group underlying loss before tax reduced to GBP0.6 million (H1 2011/12: loss
of GBP4.4m)
* Net debt of GBP29.8 million, following tight control of working capital and
cash
skinny
- 22 Nov 2012 09:02
- 146 of 454
Just closed +22 for a 2 day round trip.
skinny
- 04 Dec 2012 13:05
- 147 of 454
The Middleton effect maybe!
Stan
- 05 Dec 2012 09:09
- 148 of 454
This might have helped skinny? http://www.moneyam.com/action/news/showArticle?id=4497888
skinny
- 11 Dec 2012 16:01
- 149 of 454
12 month high today @349p.
skinny
- 14 Dec 2012 16:28
- 150 of 454
Another 6% rise today on good volume.
skinny
- 07 Jan 2013 11:00
- 151 of 454
skinny
- 16 Jan 2013 14:34
- 152 of 454
Down 3% TS tomorrow.
goldfinger
- 16 Jan 2013 15:30
- 153 of 454
Winnie said it was a sell yesterday on twitter.
skinny
- 16 Jan 2013 15:35
- 154 of 454
I might go long then :-)
skinny
- 17 Jan 2013 07:07
- 155 of 454
Interim Management Statement
Simon Calver, Chief Executive of Mothercare plc, summarised:
"We have made solid progress during Q3, despite a challenging consumer backdrop for the UK and Eurozone. International continues to see double-digit growth and in the UK we have made further progress closing loss making stores. The transition to our new online platform has passed the test of peak trading with Direct in Home growing at double-digit rates during December. Our work towards delivering improved value, choice and service for our customers continues to make an impact and I am very encouraged by the new ranges and innovative product ready to go into stores for spring/summer 2013."
Highlights for Q3
On track with our three-year Transformation and Growth plan
International continues to deliver double-digit growth
UK strategy to exit loss making stores progressing well
Cash tightly controlled with continued focus on cash gross margin
Simon Calver, Chief Executive of Mothercare plc, summarised:
"We have made solid progress during Q3, despite a challenging consumer backdrop for the UK and Eurozone. International continues to see double-digit growth and in the UK we have made further progress closing loss making stores. The transition to our new online platform has passed the test of peak trading with Direct in Home growing at double-digit rates during December. Our work towards delivering improved value, choice and service for our customers continues to make an impact and I am very encouraged by the new ranges and innovative product ready to go into stores for spring/summer 2013."
Highlights for Q3
On track with our three-year Transformation and Growth plan
International continues to deliver double-digit growth
UK strategy to exit loss making stores progressing well
Cash tightly controlled with continued focus on cash gross margin
skinny
- 17 Jan 2013 12:40
- 156 of 454
Right shoulder - or buy for the 'Middleton year' ?
;MA(50);MA(200)&IND=VOLMA(60);RSI(14);MTM(6,6)&Layout=2Line;Default;Price;HisDate&XCycle=&XFormat=)
Stan
- 17 Jan 2013 17:30
- 157 of 454
Yet again MTC being judged on its UK dip and not it's International progress.
cynic
- 17 Jan 2013 17:40
- 158 of 454
my view on high street stocks is well known, and though i confess i have not followed this one and nor do we have a MTC shop in our town ..... however, i do have fears that it will follow in the footsteps of other recent casualties - perhaps not immediately, but before there is time for the uk economy to turn around sufficiently
skinny
- 17 Jan 2013 20:37
- 159 of 454
The shares did actually end up on the day and as stated earlier on this thread, I've had a bit of recent experience of them (all online) and as such bought a few this morning.
BTW - where have u been Stan?
BTW - where have u been Stan?
3 monkies - 17 Jan 2013 20:43 - 160 of 454
I could be wrong but I am sure Boots he Chemist have a franchise with Mother Care on their Baby (childrens) clothing.
3 monkies - 17 Jan 2013 20:44 - 161 of 454
Boots The Chemist (sorry).
skinny
- 17 Jan 2013 20:48
- 162 of 454
Also the ELC - Early Learning Centre and as has been mentioned more than once on here, the foreign market growth/potential.
Stan
- 17 Jan 2013 20:51
- 163 of 454
A bereavement of a close relative and some pesky bug over xmas/new year Skinny, it knocked me out completely, couldn't stop sleeping and no appetite, lost half a stone.. and I ain't got many of them to lose -):
skinny
- 17 Jan 2013 21:07
- 164 of 454
I hope you are on the up now! :-)
Stan
- 17 Jan 2013 21:11
- 165 of 454
Boom boom -):
3 monkies - 17 Jan 2013 21:14 - 166 of 454
Sorry stan, I not well myself at all , legs will not work so weak but we have to get better and am sorry about your family breavememt . I would love to sleep, look to the future for better days. Good luck.
skinny
- 17 Jan 2013 21:17
- 167 of 454
Stan - sorry if my posting seemed frivolous - I was being sincere.
Stan
- 17 Jan 2013 21:19
- 168 of 454
Certainly not Skinny, I took it with a smile on my face, and thanks 3 monkies, there certainly are a lot of unusual bugs about these days it seems.
skinny
- 17 Jan 2013 21:23
- 169 of 454
Stan
- 17 Jan 2013 21:30
- 170 of 454
How did my portrait get out.
skinny
- 17 Jan 2013 21:33
- 171 of 454
Well its one of you :-)
skinny
- 18 Jan 2013 15:00
- 172 of 454
Just closed half from yesterday +30.
Stan
- 18 Jan 2013 18:15
- 173 of 454
Well done Skinny, MTC nearly always seemed to bounce back over the last couple of years.
skinny
- 08 Mar 2013 09:45
- 174 of 454
Oriel Securities Buy 287.13 282.00 520.00 520.00 Reiterates
Cantor Fitzgerald (formerly Seymour Pierce) Sell 287.13 282.00 - 200.00 Reiterates
skinny
- 08 Mar 2013 09:50
- 175 of 454
30th March - 2013 year end (to be reported)
skinny
- 15 Mar 2013 17:59
- 176 of 454
Looking interesting.
halifax - 15 Mar 2013 18:00 - 177 of 454
Royal baby coming!
skinny
- 25 Mar 2013 10:32
- 178 of 454
N+1 Singer Buy 303.50 302.50 - 380.00 Reiterates
skinny
- 26 Mar 2013 15:36
- 179 of 454
Small long here - Q4 trading statement 11-Apr-2013.
Chris Carson
- 26 Mar 2013 16:32
- 180 of 454
Joined you skinny @ 317.22
skinny
- 11 Apr 2013 07:02
- 181 of 454
Q4 Trading Statement
Highlights for Q4
UK store closures ahead of plan, with 56 loss-making stores closed during the year
UK like-for-like sales supported by strong double-digit growth from Direct in Home
Continued focus on cash gross margin
Double-digit International growth, despite continuing Eurozone weakness
New innovative product launches during the year
Underlying profit before tax for FY2013 is in line with market expectations
Highlights for Q4
UK store closures ahead of plan, with 56 loss-making stores closed during the year
UK like-for-like sales supported by strong double-digit growth from Direct in Home
Continued focus on cash gross margin
Double-digit International growth, despite continuing Eurozone weakness
New innovative product launches during the year
Underlying profit before tax for FY2013 is in line with market expectations
skinny
- 07 May 2013 15:41
- 182 of 454
Final results May 23rd.
skinny
- 14 May 2013 11:12
- 183 of 454
Finally picking up ahead of results.
skinny
- 14 May 2013 12:28
- 184 of 454
N+1 Singer Buy 338.63 380.00 400.00 Reiterates
Stan
- 14 May 2013 16:01
- 185 of 454
351p, These are pushing up again.
skinny
- 21 May 2013 14:31
- 186 of 454
Double top - results on Thursday.
skinny
- 23 May 2013 07:03
- 187 of 454
Final Results
Highlights for FY2012/13
Operating highlights
Good progress after the first year of our three-year Transformation and Growth plan
Improved value, choice, service and delivery for customers both in store and online
International space up 2.8% (up 13.5% ex Australia and New Zealand) with 1,069 stores in 60 countries
Closed 56 loss making UK stores, ending the year with 255 stores
Direct in Home returning to growth of 4.0% for the year, helped by transition to improved online platform and award winning Mobile App with circa 140,000 downloads to date
New executive team in place to deliver our plan with a multi-channel operating model for UK and International
Financial highlights
Group underlying profit before tax improved to £8.3 million with International profits of £42.0 million up 20.3% and UK losses reduced to £21.7 million (FY2012: £24.7 million)
Worldwide network sales3 of £1.2 billion - down 0.3%2 on a statutory basis and up 1.9%1 on a comparable basis, with total International sales up 8.4% and UK sales down 10.8%
International like-for-like sales up 5.6% and UK like-for-like sales down 3.6%, improving over the year and helped by positive contribution from Direct in Home
Underlying EPS of 6.2p, up 244.4% on last year
Net debt of £32.4 million resulting from investment in new product areas during the last quarter of the year
Highlights for FY2012/13
Operating highlights
Good progress after the first year of our three-year Transformation and Growth plan
Improved value, choice, service and delivery for customers both in store and online
International space up 2.8% (up 13.5% ex Australia and New Zealand) with 1,069 stores in 60 countries
Closed 56 loss making UK stores, ending the year with 255 stores
Direct in Home returning to growth of 4.0% for the year, helped by transition to improved online platform and award winning Mobile App with circa 140,000 downloads to date
New executive team in place to deliver our plan with a multi-channel operating model for UK and International
Financial highlights
Group underlying profit before tax improved to £8.3 million with International profits of £42.0 million up 20.3% and UK losses reduced to £21.7 million (FY2012: £24.7 million)
Worldwide network sales3 of £1.2 billion - down 0.3%2 on a statutory basis and up 1.9%1 on a comparable basis, with total International sales up 8.4% and UK sales down 10.8%
International like-for-like sales up 5.6% and UK like-for-like sales down 3.6%, improving over the year and helped by positive contribution from Direct in Home
Underlying EPS of 6.2p, up 244.4% on last year
Net debt of £32.4 million resulting from investment in new product areas during the last quarter of the year
skinny
- 23 May 2013 08:31
- 188 of 454
N+1 Singer Buy 338.63 400.00 400.00 Reiterates
skinny
- 04 Jun 2013 11:27
- 189 of 454
N+1 Singer Buy 369.63 400.00 450.00 Reiterates
skinny
- 14 Jun 2013 16:24
- 190 of 454
Middleton effect.
Stan
- 14 Jun 2013 16:29
- 191 of 454
£4 broken.. Yes!
Chris Carson
- 18 Jun 2013 15:37
- 192 of 454
Out of spreads @ 402.0 + 84.78
skinny
- 18 Jun 2013 16:10
- 193 of 454
Light weight :-)
Chris Carson
- 18 Jun 2013 16:13
- 194 of 454
:O) still hold the shares skinny, but that profit had to be taken mate.
skinny
- 18 Jun 2013 16:15
- 195 of 454
I don't blame you ahead of Bennie and his jets tomorrow.
skinny
- 20 Jun 2013 12:31
- 196 of 454
Quietly making new 12+ month new highs @417.75 on an otherwise torrid day.
And now 420p.
And now 420p.
skinny
- 20 Jun 2013 15:30
- 197 of 454
Tempted here Chris.
Chris Carson
- 20 Jun 2013 15:37
- 198 of 454
Not for a long on the spreads skinny at these levels. My summer off looking like a good decision :O)
skinny
- 20 Jun 2013 15:38
- 199 of 454
Tempted to close my long :-)
Stan
- 21 Jun 2013 06:17
- 200 of 454
Keep going you lot.. only another £2 to get even on this lot -):
Chris Carson
- 26 Jun 2013 16:59
- 201 of 454
What do you reckon skinny? Just keeps creeping up on lousy volume Tempted to go short, defying gravity. Major resistance @ 450.0 so probably creep up there, but then 500.0 next target :O) Watching, maybe sell on news, birth Middleton factor?
skinny
- 26 Jun 2013 17:13
- 202 of 454
I'm still holding for now Chris, although I was tempted yesterday @430 and today @440 - this is proving to be my HFD for this summer atm - Q1 18th July.
Stan
- 27 Jun 2013 06:47
- 203 of 454
Stan's view is keep buying.. no bias or favouritism intended of course -):
skinny
- 08 Jul 2013 11:08
- 204 of 454
Another price fillip?
Zara Phillips and Mike Tindall are expecting a baby in the New Year, Buckingham Palace says.
Zara Phillips and Mike Tindall are expecting a baby in the New Year, Buckingham Palace says.
skinny
- 09 Jul 2013 11:34
- 205 of 454
Excellent bullish engulfing candle atm.
skinny
- 18 Jul 2013 07:01
- 206 of 454
INTERIM MANAGEMENT STATEMENT
Key messages for Q1
Worldwide network sales up 4.8% and group reported sales down 3.4%
International space up 14.0% year-on-year with 2,430k sq.ft. of retail space
International retail sales up 11.3% in constant currency while reported retail sales up 14.1%
UK like-for-like sales down 0.9%, helped by a solid performance from Direct in Home up 14.6%
In line with our plan, UK space reduced by 7.7% year-on-year as 13 loss making stores closed during the quarter
Key messages for Q1
Worldwide network sales up 4.8% and group reported sales down 3.4%
International space up 14.0% year-on-year with 2,430k sq.ft. of retail space
International retail sales up 11.3% in constant currency while reported retail sales up 14.1%
UK like-for-like sales down 0.9%, helped by a solid performance from Direct in Home up 14.6%
In line with our plan, UK space reduced by 7.7% year-on-year as 13 loss making stores closed during the quarter
doodlebug4 - 24 Jul 2013 12:04 - 207 of 454
The CEO was interviewed on Sky News yesterday and was understandably bullish about sales and the knock-on effect of Baby Cambridge.
Chris Carson
- 12 Oct 2013 17:24
- 208 of 454
Bounced of 25DMA, On my watch list for a spread bet, trading statement on Thursday (haven't checked MTC website so hope MAM have got it right :O)
Noticed Naked Trader is short @ 374.0 so he is on wrong side of trade at mo, see what Monday brings.
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Noticed Naked Trader is short @ 374.0 so he is on wrong side of trade at mo, see what Monday brings.
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Deltastream
skinny
- 13 Oct 2013 11:36
- 209 of 454
It is - Q2 trading statement 17th Oct :-)
goldfinger
- 14 Oct 2013 16:24
- 210 of 454
Retail expert Bill Grimsey as just tweeted this on twitter. No postion chaps just looking after my buddies. He could be wrong.
Bill Grimsey@BillGrimsey1m
Mothercare expected to report falling UK sales. Will the international arm be enough to this troubled company thro a long hard winter?
Bill Grimsey@BillGrimsey1m
Mothercare expected to report falling UK sales. Will the international arm be enough to this troubled company thro a long hard winter?
Chris Carson
- 14 Oct 2013 17:07
- 211 of 454
Still on the sidelines GF, not confident either way.
goldfinger
- 14 Oct 2013 19:16
- 212 of 454
This Grimsey chap is the bloke whos been taking on Mary Portas up and down the country saying shes just a winow dresser and as no idea how to run a business.
Havent a clue myself how results will turn out.
Havent a clue myself how results will turn out.
doodlebug4 - 14 Oct 2013 19:58 - 213 of 454
You just don't have a clue - full stop gf. :-) A winow dresser - now there's a new one -what is a winow dresser?
skinny
- 17 Oct 2013 07:10
- 214 of 454
Q2 TRADING UPDATE
Key messages for Q2
Worldwide network sales up 3.9% and group reported sales down 0.5%
International space up 11.9% year-on-year with 2.5m sq.ft. of retail space
International retail sales up 12.6% in constant currency and reported retail sales up 12.4% with all four regions delivering positive growth
Against strong comparatives, UK like-for-like sales down 1.9% with Direct in Home up 8.3%, taking year to date Direct in Home growth to 11.6%
In line with our plan, UK space reduced by 6.0% year-on-year as a further five loss making stores closed during the quarter
The UK market remains very promotional, particularly in Home and Travel, and we have continued to focus on cash margin
Key messages for Q2
Worldwide network sales up 3.9% and group reported sales down 0.5%
International space up 11.9% year-on-year with 2.5m sq.ft. of retail space
International retail sales up 12.6% in constant currency and reported retail sales up 12.4% with all four regions delivering positive growth
Against strong comparatives, UK like-for-like sales down 1.9% with Direct in Home up 8.3%, taking year to date Direct in Home growth to 11.6%
In line with our plan, UK space reduced by 6.0% year-on-year as a further five loss making stores closed during the quarter
The UK market remains very promotional, particularly in Home and Travel, and we have continued to focus on cash margin
Stan
- 21 Oct 2013 21:10
- 215 of 454
FIL Limited (the parent holding company for various direct and indirect subsidiaries) has increased its shareholding in Mothercare plc.
skinny
- 20 Nov 2013 13:08
- 216 of 454
Interims tomorrow.
skinny
- 21 Nov 2013 07:01
- 217 of 454
Half-yearly Report
Highlights for H1 FY2013/14
Financial highlights
Group returns to half year profit with underlying profit before tax of £2.0 million
Worldwide network sales2 up 4.4%1 to £637.7 million; total International sales up 13.0%1 and total UK sales down 7.5%
International like-for-like sales up 4.8%1; UK like-for-like sales (1.4%), on an improving trend from (3.4%) last year
Underlying International profits up 13.5% to £25.2 million and underlying UK losses reduced by £2.0 million to £14.9 million
Net debt of £48.0 million with banking facilities refinanced
Operating highlights
International space up 11.9%1 with 1,156 stores in 59 countries
Reshaping of UK business continued with the closure of an additional 18 loss making stores and refits in some key stores
Growth in total Direct sales, with click-and-collect now in all stores in advance of peak trading
Award winning mobile app; mobile visits now represent 33% of all website traffic
Further product innovation with 30% newness in our toy range for Christmas
Highlights for H1 FY2013/14
Financial highlights
Group returns to half year profit with underlying profit before tax of £2.0 million
Worldwide network sales2 up 4.4%1 to £637.7 million; total International sales up 13.0%1 and total UK sales down 7.5%
International like-for-like sales up 4.8%1; UK like-for-like sales (1.4%), on an improving trend from (3.4%) last year
Underlying International profits up 13.5% to £25.2 million and underlying UK losses reduced by £2.0 million to £14.9 million
Net debt of £48.0 million with banking facilities refinanced
Operating highlights
International space up 11.9%1 with 1,156 stores in 59 countries
Reshaping of UK business continued with the closure of an additional 18 loss making stores and refits in some key stores
Growth in total Direct sales, with click-and-collect now in all stores in advance of peak trading
Award winning mobile app; mobile visits now represent 33% of all website traffic
Further product innovation with 30% newness in our toy range for Christmas
Stan
- 21 Nov 2013 07:27
- 218 of 454
Run down over hear and build up over there, that's the way to do it.
skinny
- 21 Nov 2013 07:38
- 219 of 454
Stan - as mentioned before, that seems to be their adopted MO.
Eyes down..
Eyes down..
Stan
- 21 Nov 2013 07:41
- 220 of 454
Yes Skinny, been doing that for some years now.
skinny
- 21 Nov 2013 09:10
- 221 of 454
Numis Add 412.88 414.25 450.00 475.00 Reiterates
N+1 Singer Buy 412.88 414.25 450.00 450.00 Reiterates
N+1 Singer Buy 412.88 414.25 450.00 450.00 Reiterates
Stan
- 21 Nov 2013 14:59
- 222 of 454
Down over 3% so far.
skinny
- 11 Dec 2013 11:02
- 223 of 454
Trading Statement 16 Jan 14.
Trying 420 again.
;MA(50);MA(200)&IND=MACD(26,12,9);RSI(14)&Layout=2Line;Default;Price;HisDate&XCycle=&XFormat=)
Trying 420 again.
skinny
- 03 Jan 2014 11:46
- 224 of 454
Looking for 440p.
skinny
- 08 Jan 2014 07:15
- 225 of 454
INTERIM MANAGEMENT STATEMENT
Overview for 12 weeks to 4 January 2014
Worldwide network sales were down 4.4% with Group reported sales down 6.1%
International has been negatively impacted by currency deflation and weaker than expected economic conditions in some of our key markets, resulting in lower royalty revenues
In the UK, the highly promotional nature of the Christmas period and lower seasonal footfall have impacted both sales and margin, but stock remains closely managed
We remain cautious about the outlook for consumer expenditure and currency deflation for the rest of the year and therefore full year profit expectations are now below the current range of market forecasts.
more...
Overview for 12 weeks to 4 January 2014
Worldwide network sales were down 4.4% with Group reported sales down 6.1%
International has been negatively impacted by currency deflation and weaker than expected economic conditions in some of our key markets, resulting in lower royalty revenues
In the UK, the highly promotional nature of the Christmas period and lower seasonal footfall have impacted both sales and margin, but stock remains closely managed
We remain cautious about the outlook for consumer expenditure and currency deflation for the rest of the year and therefore full year profit expectations are now below the current range of market forecasts.
more...
cynic
- 08 Jan 2014 08:04
- 226 of 454
ouch for skinny ..... hope not too much damage
skinny
- 08 Jan 2014 08:08
- 227 of 454
Yes - not a good start to the day!
cynic
- 08 Jan 2014 08:08
- 228 of 454
and impossible to duck too .... now you have the prob as to whether to bale out or grit your teeth
mitzy - 08 Jan 2014 08:29 - 229 of 454
Ouch....
Time Traveller
- 08 Jan 2014 08:29
- 230 of 454
It's amazing how different the management statement this time is from the one in July when everything was coming up roses. All doom and despondency and no wonder the shares have fallen 30%.
I remember Shares Mag has this as a buy at the start of last year and I was annoyed with myself that I missed the boat when the shares rose from the 270's to over 300.
Now if I wanted to I could buy back in but at the moment I'll keep my powder dry and see what happens here.
Hope you're not too deep into this skinny!
TT
I remember Shares Mag has this as a buy at the start of last year and I was annoyed with myself that I missed the boat when the shares rose from the 270's to over 300.
Now if I wanted to I could buy back in but at the moment I'll keep my powder dry and see what happens here.
Hope you're not too deep into this skinny!
TT
skinny
- 08 Jan 2014 08:31
- 231 of 454
No - I'm out - another day another dollar etc.
It just goes to show that talking to store staff isn't always a good indicator!
It just goes to show that talking to store staff isn't always a good indicator!
cynic
- 08 Jan 2014 08:48
- 232 of 454
as sp has dumped a further 40p, i hope you got out first thing
i don't wish to rub it in, but i'm afraid MTC lost its way a while back and loses out to more trendy places like JoJo Maman Bebe and the like .... it is also predominantly high street based, and we all know what a disaster area that has been for the last year and more
rotten luck and my commiserations - at least you are in good company, for we have all taken pastings from time to time, the more honest among us owning up to it :-(
i don't wish to rub it in, but i'm afraid MTC lost its way a while back and loses out to more trendy places like JoJo Maman Bebe and the like .... it is also predominantly high street based, and we all know what a disaster area that has been for the last year and more
rotten luck and my commiserations - at least you are in good company, for we have all taken pastings from time to time, the more honest among us owning up to it :-(
halifax - 08 Jan 2014 10:04 - 233 of 454
Brokers TP's look rather optimistic!!
Shortie - 08 Jan 2014 12:27 - 234 of 454
Unlucky Skinny, I'm going to have a read of the trading statement I think and have a good look at this.. This new year is taking its fair share of traders scalps..
Shortie - 08 Jan 2014 12:34 - 235 of 454
Well that was a quick decision @300.4 gone short.. Got to be close to £0 net worth... Fingers crossed for 150p by the end of the week... Either that or will get toasted tomorrow..
skinny
- 08 Jan 2014 14:30
- 236 of 454
Numis Add 303.13 475.00 - Under Review
cynic
- 08 Jan 2014 14:32
- 237 of 454
love that Numis comment ..... a real politicians answer :-)
Shortie - 08 Jan 2014 15:03 - 238 of 454
Have to say I never pay any attention to broker numbers, they tend to be wrong in my experience more often than right. Still remember the 10+ strong buys on Apple last year whilst I was cleaning up shorting.. I'm sure they scream buy as there getting burnt.
deltazero - 09 Jan 2014 07:26 - 239 of 454
outdated model - not unlike the wonder of woollies, hmv et al
new broker rating 9 Jan Liberum Capital 160.00 Sell
new broker rating 9 Jan Liberum Capital 160.00 Sell
deltazero - 09 Jan 2014 08:14 - 240 of 454
funny day - mtc is bouncing!! lols
deltazero - 09 Jan 2014 08:16 - 241 of 454
no rating just out helps explain the bounce
9 Jan JP Morgan... 335.00
9 Jan JP Morgan... 335.00
Shortie - 09 Jan 2014 09:34 - 242 of 454
Nice to see a broker rating not too far off what I make it Deltazero..
new broker rating 9 Jan Liberum Capital 160.00 Sell
Agree the business model isn't good, Mothercare are expensive for baby and kids wear in comparison to Supermarkets and their designs / style is pretty out dated too.
new broker rating 9 Jan Liberum Capital 160.00 Sell
Agree the business model isn't good, Mothercare are expensive for baby and kids wear in comparison to Supermarkets and their designs / style is pretty out dated too.
tomasz
- 10 Jan 2014 08:39
- 243 of 454
I see this not death yet+all damage may be done.long 286 tight stop.
tomasz
- 10 Jan 2014 11:26
- 244 of 454
Stop 280.-6
cynic
- 10 Jan 2014 11:35
- 245 of 454
still ticking south :-) though L2 order book is evenly balanced ...... shall certainly stay put for now as i can see no reason for any recovery
Shortie - 10 Jan 2014 13:05 - 246 of 454
Just taking out old support at 270 then should fall away to 230. There is a chance of abit of upside but I'm planning on holding short with 130-150 ranged exit.
cynic
- 13 Jan 2014 08:54
- 247 of 454
just topped up short at 267 ..... sp doing slightly more than just drifting south
Shortie - 13 Jan 2014 11:18 - 248 of 454
Looks like we'll see abit of bounceback before 270 is taken out.
Shortie - 13 Jan 2014 12:14 - 249 of 454
A closer look at the upside on a better chart and it already looks done to me. Should continue south, 270 first support to be taken out.. Think I'll take another short position.
cynic
- 13 Jan 2014 13:10
- 250 of 454
i was slightly premature, but not unduly fussed
tomasz
- 13 Jan 2014 13:24
- 251 of 454
nice washout, just need back little more now for me, so more shorts please.anything below 268 is mine.
Shortie - 13 Jan 2014 15:19 - 252 of 454
Tomasz are you short 268 now then?
cynic
- 13 Jan 2014 15:41
- 253 of 454
is that a curved ball i see before me? :-)
it'll be interesting to see whether you get an intelligible, straightforward answer or indeed any at all
it'll be interesting to see whether you get an intelligible, straightforward answer or indeed any at all
Shortie - 13 Jan 2014 15:57 - 254 of 454
I assume he's short, if so must have placed that just after your top up at 267.
I'm short 300.4 on a DFT, and 278.16 on a Mar 14 Future bought today.
I'm short 300.4 on a DFT, and 278.16 on a Mar 14 Future bought today.
cynic
- 13 Jan 2014 16:04
- 255 of 454
overall, i'm short @ 287.8 - CFDs only
tomasz
- 13 Jan 2014 16:28
- 256 of 454
of course not short, not after washout.I see long play here.just need this below 268 to get in.
cynic
- 13 Jan 2014 16:40
- 257 of 454
just goes to show that tomasz, like the perfidious whiteman, talks with forked tongue
he could most certainly have gone long at <268 this morning - about 263 actually - but seemingly did not do so
he could most certainly have gone long at <268 this morning - about 263 actually - but seemingly did not do so
tomasz
- 13 Jan 2014 16:46
- 258 of 454
you print too much of yourself cynic.dont be so selfie.
Shortie - 13 Jan 2014 16:48 - 259 of 454
Well he might get his 5 pips tomorrow... fingers crossed.. Have to say I'm learning lots of new terminology like "washout" which I assume is a new one for "recovered" being bullish on a share... We live and learn.
tomasz
- 13 Jan 2014 17:02
- 260 of 454
the first 4hours made washing and should be tested.if holds then it means big buyer did the washing and better be on his side.im looking for test to get in.
Shortie - 13 Jan 2014 17:10 - 261 of 454
Does big buyer still use Daz on his whites?
cynic
- 13 Jan 2014 17:11
- 262 of 454
ah well, you forget that tomasz's mother tongue is pidgin, so it should come as no surprise that what he writes frequently come across as gibberish
halifax - 13 Jan 2014 17:13 - 263 of 454
cynic maybe he is dyslexic?
cynic
- 13 Jan 2014 17:14
- 264 of 454
is that a euphemism for a piece of male anatomy?
tomasz
- 14 Jan 2014 04:50
- 265 of 454
Not really sure whats the point keeping fingers crossed for someone to enter opposite trade to yours.a bit strange but i dont mind shortie.
Shortie - 14 Jan 2014 09:42 - 266 of 454
Actully I thought you were short also... It matters not to me which way others trade, just every now and again I come accross someone who knows a thing or too, not very often but sometimes.
cynic
- 14 Jan 2014 10:16
- 267 of 454
me? .... assuredly i am
as for Mr Smartarse, sp only needs to drop a couple more pennies and he should start filling his boots (long of course) .... or at least so he apparently wrote yesterday
as for Mr Smartarse, sp only needs to drop a couple more pennies and he should start filling his boots (long of course) .... or at least so he apparently wrote yesterday
Shortie - 14 Jan 2014 13:21 - 268 of 454
Mothercare DFT closed for +27.6 pts, short Mothercare March Future 278.16 remaining in play.
skinny
- 14 Jan 2014 13:57
- 269 of 454
Numis Hold 272.25 272.25 - 275.00 Downgrades
halifax - 14 Jan 2014 14:17 - 270 of 454
cynic sp stubbornly refusing to fall further....... some mothers do have em!
cynic
- 14 Jan 2014 15:03
- 271 of 454
i'm not complaining, nor shortie either i should imagine ..... there is support at 270 but it is testing that quite severely
tomasz
- 14 Jan 2014 16:01
- 272 of 454
Halifax think about it...how can you expect someone to get out in time if one is able to run few hundred points - lets say for example - dow's losses...?lol
cynic
- 14 Jan 2014 17:00
- 273 of 454
as my short position is at 287.8, why should i have the slightest concern if the support holds at 270? .... or at least i think that is the point or issue Mr Smartarse is trying to raise or oppose; bit hard to tell as my pidgin isn't up to scratch!
or was some strange allusion to my dow short which i closed out this morning with a profit of 180 points?
or was some strange allusion to my dow short which i closed out this morning with a profit of 180 points?
Shortie - 14 Jan 2014 17:05 - 274 of 454
MTC closed down 5.25 to 267, we're still heading in the right direction, I suspected 270 would offer resistence and it has... I'd say "I love it when a plan comes together", now where have I heard that one before!!
cynic
- 14 Jan 2014 17:09
- 275 of 454
the question of course is whether or not 270 will hold ..... it's now been tested twice
Shortie - 14 Jan 2014 17:24 - 276 of 454
Range hasnt' been broken yet..
tomasz
- 15 Jan 2014 11:11
- 277 of 454
just poped in to share my out of interest to go long here anymore.one is very very slow, two I got heavy involved in asc so all my focus on there.whale is still here,watch out.gl
Shortie - 15 Jan 2014 11:21 - 278 of 454
Cheers Tomasz, your right about this being slow, its frustrating... I had a play yesterday in ASC, still got it on watch and will keep as a momentum play. I see the board are looking to move ASC off AIM onto the main index with the hope of attracting bigger investement. Lets hope this doesn't backfire later in the year!
cynic
- 15 Jan 2014 12:47
- 279 of 454
on history, i bet he doesn't believe you had a successful play on ASC either .... it would contradict his view of you
Shortie - 15 Jan 2014 13:12 - 280 of 454
Thats one debate I'm not going to have, either take my word for it or don't it's that simple.. For a long time I used to just sign into Moneyam and read the BB's without ever posting, I have to say that going back to that approach is highly attractive.
jimmy b
- 15 Jan 2014 13:22
- 281 of 454
Don't do that ,i like to read peoples opinions long and short ,
problem is some of the threads have started to resemble an ADVFN thread ,somewhere i never go.
problem is some of the threads have started to resemble an ADVFN thread ,somewhere i never go.
Shortie - 15 Jan 2014 15:54 - 282 of 454
Cheers Jimmy, it all comes down to time at the end of the day. To just read threads is far quicker than responding also. On the plus side its easier to swith off to those rampers that feel they need to defend a stock like it were a child and they never know your there...
cynic
- 15 Jan 2014 16:08
- 283 of 454
chuckle chuckle
anyway, just for the record, i have banked my profit here, for though i thoroughly agree with shorties with regards to the underlying "value", sp is currently disinclined to break south, and with the markets determined to head north, (temporary) prudence seemed the best idea (she's a lovely girl as always!)
anyway, just for the record, i have banked my profit here, for though i thoroughly agree with shorties with regards to the underlying "value", sp is currently disinclined to break south, and with the markets determined to head north, (temporary) prudence seemed the best idea (she's a lovely girl as always!)
halifax - 15 Jan 2014 16:17 - 284 of 454
cynic discretion is etc.... as always.
doodlebug4 - 15 Jan 2014 16:41 - 285 of 454
jimmy b - if you cut out all the silly nonsense on ADVFN there are some good threads. The fxd thread is one of them.imo
jimmy b
- 15 Jan 2014 16:44
- 286 of 454
Yes db i have looked at that from time to time ,your right it's worth reading .
Shortie - 15 Jan 2014 17:07 - 287 of 454
Can't say taking the money and moving on hasn't crossed my mind also. Will hold for now.
Shortie - 16 Jan 2014 11:23 - 288 of 454
Exited my future for a small profit, this wraps up my positions in MTC.
tomasz
- 20 Jan 2014 08:10
- 289 of 454
This is finnaly moved, nice pop, killing fields..
jimmy b
- 20 Jan 2014 08:12
- 290 of 454
Says in the Sunday Times Tesco is eyeing MTC .
tomasz
- 20 Jan 2014 08:18
- 291 of 454
5So, some knew it before it hit the street, and stepped in last week, shorters doomed little bit
cynic
- 20 Jan 2014 08:25
- 292 of 454
it was certainly the right thing to have taken profits on short positions last week
shortie read it absolutely correctly (thank you)
however, i suspect that any move on MTC will not be immediate, for these "flagged" takeovers rarely are
shortie read it absolutely correctly (thank you)
however, i suspect that any move on MTC will not be immediate, for these "flagged" takeovers rarely are
tomasz
- 20 Jan 2014 08:35
- 293 of 454
i see i should keep quiet last week, that moron cynic would be nicely doomed today, have to rethink my posting, some muppets dont deserves for any clues..
Shortie - 20 Jan 2014 09:27 - 294 of 454
Post 293, yet more lies. Anyone who reads back will see this. Squelched on this thread also, shame I can't just do it accorss all threads.
cynic
- 20 Jan 2014 09:55
- 295 of 454
of course it does ..... the squelch button composts the target across all threads
tomasz
- 20 Jan 2014 09:59
- 296 of 454
And this is great point why there will be no sense to post anymore for me. Moron you got saved your money thanks to wash and rinse clue, otherwise your brain would keep your 150 or so target..lol
--
End
--
End
Shortie - 20 Jan 2014 10:01 - 297 of 454
Can't see his posts on the ASC thread but could on here. Says he's squelched on the ACS thread but not on here. So squelched on here also. I'm using the squelch button above the "Mothercare reborn and maybe worth a punt now (MTC) " title, am I doing it wrong?
cynic
- 20 Jan 2014 10:05
- 298 of 454
very strange ..... i have x-checked by un-squelching (all his posts everywhere appeared) and re-squelching (all his posts everywhere disappeared)
Shortie - 20 Jan 2014 10:10 - 299 of 454
Ah well, its probally a user error, there's a squelch button above where all the treads are listed so clicked on that one also and the subject is listed there.
cynic
- 20 Jan 2014 10:15
- 300 of 454
the thread list will still show that the targetted has posted, but not the post itself
by the way, during that very brief un-squelch i noticed that "our friend" says he is going to disappear from this site ..... would be nice to think he'll keep his promise, even if only to dispose of all his pretend pidgin poo
===============
for a long(er) term hold, you may want to consider GOOG
i know it's a serious heavyweight, and in % terms you may not get fireworks, but i reckon it should still be a very tasty performer
by the way, during that very brief un-squelch i noticed that "our friend" says he is going to disappear from this site ..... would be nice to think he'll keep his promise, even if only to dispose of all his pretend pidgin poo
===============
for a long(er) term hold, you may want to consider GOOG
i know it's a serious heavyweight, and in % terms you may not get fireworks, but i reckon it should still be a very tasty performer
galatica - 20 Jan 2014 10:22 - 301 of 454
tomasz, how right you are, I only came here to read, but today I take my hat off to you for being so honest with some posters over here.
Lies, lies and more damned lies is typical of some, they talk with a false tongue.
pick up a penny off the floor?
some they do with a double option, you know what I mean, hopping maybe is not only their pocket is going to be filled.
back to business, some shares are making some progress alfter all
Zechariah 14:12 ►
And this shall be the plague with which the LORD will strike all the peoples that wage war against Jerusalem: their flesh will rot while they are still standing on their feet, their eyes will rot in their sockets, and their tongues will rot in their mouths.
Lies, lies and more damned lies is typical of some, they talk with a false tongue.
pick up a penny off the floor?
some they do with a double option, you know what I mean, hopping maybe is not only their pocket is going to be filled.
back to business, some shares are making some progress alfter all
Zechariah 14:12 ►
And this shall be the plague with which the LORD will strike all the peoples that wage war against Jerusalem: their flesh will rot while they are still standing on their feet, their eyes will rot in their sockets, and their tongues will rot in their mouths.
cynic
- 20 Jan 2014 10:26
- 302 of 454
now try to spell the attribution correctly!
does one assume you are refugee from ADVFN?
does one assume you are refugee from ADVFN?
Shortie - 20 Jan 2014 10:40 - 303 of 454
Have considered Google before Cynic, I'm very pro-Android maybe worth another look.
As for our irritation, he remains banished forever from my screen, I care not if he stays or goes.
As for our irritation, he remains banished forever from my screen, I care not if he stays or goes.
cynic
- 20 Jan 2014 10:44
- 304 of 454
would be quite nice to have a GOOG and even AAPL and other US stock threads, but it's a pain as i don't think one can post charts .... or are you clever enough to do that, for i'm certainly not?
Shortie - 20 Jan 2014 11:06 - 305 of 454
Should be able to figure out the charts, I was thinking about creating a shorters thread also.
cynic
- 20 Jan 2014 11:10
- 306 of 454
that would certainly be interesting
GF's chart thread is pretty good, but the picks get quickly swamped
GF's chart thread is pretty good, but the picks get quickly swamped
Shortie - 20 Jan 2014 11:30 - 307 of 454
I follow GF's chart thread also, scanning for breakout patterns can mean things become a little erratic on a daily basis as often you'll need a day or two extra to confirm a movement. I tend to look for companies that are overvalued (for no other reason than there are plenty of people doing the opposite, shares mag, RHPS etc. etc all helping to over-inflate prices). I then watch these companies and wait for them to breakout. I don't bother with analyst numbers as these are always behind the fall.
jimmy b
- 20 Jan 2014 13:35
- 308 of 454
A short thread would be good Shortie .
cynic
- 20 Jan 2014 13:37
- 309 of 454
jimmy - what a chuckle you are :-) ....... you were castigating me earlier when i set out why i was not keen on BLUR
jimmy b
- 20 Jan 2014 13:40
- 310 of 454
Why am i a chuckle ,i don't care about BLUR i care about you having a dig at random posters, i just like to read the threads without that nonsense . Whats wrong with me saying a short thread would be good .
cynic
- 20 Jan 2014 13:54
- 311 of 454
you're a sensitive little soul too aren't you
if you had bothered to read more thoroughly, which clearly you did not, you might have understood why i posted as i did to DC .... if you had followed other threads of his - eg WAND - you will have seen that i actively supported him
have i had much handbagging with tomasz?
damn right, and for good reason, as shortie would attest in his own right
i'm more than happy to take criticism when it is warranted, but on this occasion it patently was not!
if you had bothered to read more thoroughly, which clearly you did not, you might have understood why i posted as i did to DC .... if you had followed other threads of his - eg WAND - you will have seen that i actively supported him
have i had much handbagging with tomasz?
damn right, and for good reason, as shortie would attest in his own right
i'm more than happy to take criticism when it is warranted, but on this occasion it patently was not!
Shortie - 20 Jan 2014 14:30 - 312 of 454
Jimmy, I'll second the tomasz statement, I've squelched him... Have a read back of the ACS thread and you'll see why.
jimmy b
- 20 Jan 2014 14:33
- 313 of 454
Ok i think you got in late on WAND late and was probably pissed your down but not to worry, all i'm saying is please don't constantly argue on threads people want to read ,it's not just me that's mentioned it .Leave it at that.
jimmy b
- 20 Jan 2014 14:34
- 314 of 454
Shortie i agree he's been a pain to you both ,it's just i like to scroll through the threads and i do read some peoples opinions ,have done for years .
PS as i said i would like to see a short thread..
PS as i said i would like to see a short thread..
Chris Carson
- 20 Jan 2014 16:07
- 315 of 454
cynic - Big difference between tomasz and DC, apart from the standard of English. The snipe you had at DC on the BLUR thread was unwarranted imo. Your response no doubt will be 'I don't give a jot" which is fine.
galatica - 20 Jan 2014 16:11 - 316 of 454
i've started so i'll finish
Shortie, looks like you are getting married to the wrong partner
it never works when someone only takes, takes and damned takes.
partnership agreement
sign here if you dare
Shortie, looks like you are getting married to the wrong partner
it never works when someone only takes, takes and damned takes.
partnership agreement
sign here if you dare
Shortie - 20 Jan 2014 16:37 - 317 of 454
Thanks for the concern, anything posted here I do freely for all to take if they so wish..
skinny
- 20 Jan 2014 16:40
- 318 of 454
Which gap first?
cynic
- 20 Jan 2014 17:47
- 319 of 454
chris - i had no intent of being harsh with DC at all and i'm sorry if that is the way it read ..... it was meant as no more than a caveat given some of the barbs that had been directed at him in recent days by others
jimmy - i don't know whence you got the idea that i was sore to have bought WAND late in the day and am thus currently showing a loss, though hardly a very painful one
jimmy - i don't know whence you got the idea that i was sore to have bought WAND late in the day and am thus currently showing a loss, though hardly a very painful one
Chris Carson
- 20 Jan 2014 17:56
- 320 of 454
Thanks cynic, understood and appreciate your response.
cynic
- 20 Jan 2014 17:57
- 321 of 454
no prob
jimmy b
- 20 Jan 2014 18:32
- 322 of 454
Folk who know me would really laugh if they read your comment " your a sensitive little soul" iv'e never been called that ,would be good if i was ! :))
skinny
- 20 Jan 2014 19:58
- 323 of 454
Erm - I thought this was a share orientated thread - obviously another one that bites the dust!
jimmy b
- 20 Jan 2014 22:26
- 324 of 454
Your right skinny and iv'e decided everyone should go over to the NOWT thread for a row in future .
galatica - 20 Jan 2014 22:31 - 325 of 454
and all because someone is too free with irritating words, never mind who is the unfortunate soul
It's dead cat bounce or is Tesco?
It's dead cat bounce or is Tesco?
cynic
- 21 Jan 2014 08:57
- 326 of 454
the tesco story is far too airy-fairy, and even if some t/o is on the cards, it is unlikely to happen for several months or even longer
skinny
- 04 Feb 2014 16:19
- 327 of 454
A tick up with volume.
Shortie - 11 Feb 2014 15:26 - 328 of 454
Engulfs the last two, worth watching, maybe the start of a reversal.
skinny
- 10 Apr 2014 07:03
- 329 of 454
Q4 Trading update
Overview for Q4 - 12 weeks to 29 March 2014
Worldwide network sales were down 2.5% with Group reported sales up 0.6%
Mothercare plc now operates from 4.4 million sq.ft., up 5.8% year-on-year, and has 1,441 stores across 60 markets worldwide
International has seen an improvement in constant currency sales to 9.8% but, as highlighted in January, the increasing level of currency devaluation has had an adverse impact on reported retail sales
In the UK both like-for-like and Direct in Home sales have improved since Q3
Full year FY2014 underlying profit is expected to be in line with current market forecasts
In the UK, we expect the environment to remain competitive and promotional. In International, we expect the effects of currency devaluation to continue into the new financial year
Mark Newton-Jones was appointed Interim Chief Executive during the quarter.
Overview for Q4 - 12 weeks to 29 March 2014
Worldwide network sales were down 2.5% with Group reported sales up 0.6%
Mothercare plc now operates from 4.4 million sq.ft., up 5.8% year-on-year, and has 1,441 stores across 60 markets worldwide
International has seen an improvement in constant currency sales to 9.8% but, as highlighted in January, the increasing level of currency devaluation has had an adverse impact on reported retail sales
In the UK both like-for-like and Direct in Home sales have improved since Q3
Full year FY2014 underlying profit is expected to be in line with current market forecasts
In the UK, we expect the environment to remain competitive and promotional. In International, we expect the effects of currency devaluation to continue into the new financial year
Mark Newton-Jones was appointed Interim Chief Executive during the quarter.
cynic
- 04 May 2014 09:33
- 330 of 454
what a stinker!
the company's in deepest poo yet again and so soon after the recent financial restructuring
though sp will undoubtedly be clobbered from the open on tuesday, there may still be plenty of scope to short
the company's in deepest poo yet again and so soon after the recent financial restructuring
though sp will undoubtedly be clobbered from the open on tuesday, there may still be plenty of scope to short
dreamcatcher
- 04 May 2014 19:53
- 331 of 454
Sharecast - Mothercare has asked its lenders to relax banking covenants just seven months after the struggling mother and baby retailer agreed a £90m refinancing, the Sunday Times said. At the time of the previous deal with Barclays and HSBC, Mothercare said it had secured “the liquidity and covenant headroom” required for its strategy. A source close to Mothercare told the paper it had asked for breathing space so it could fund investment. Without the banks’ support, Mothercare could come dangerously close to breaching their terms because of the cost of shutting loss-making shops.
skinny
- 07 May 2014 11:35
- 332 of 454
Approaching long term support @160p.
;MA(50);MA(200)&Layout=2Line;Default;Price;HisDate&XCycle=&XFormat=)
skinny
- 22 May 2014 07:14
- 333 of 454
Preliminary Results
Highlights for FY2013/14
Financial highlights
Worldwide network sales3 up 0.5%1 to £1,191.5 million with total International sales up 6.4%1 despite significant currency headwinds and total UK sales down 7.5% as further loss-making stores were closed
International like-for-like sales3 up 2.5%1; UK like-for-like sales3 down 1.9%, on an improving trend after a 3.6% decline last year
Underlying profit before tax5 of £9.5 million compared to £5.9 million last year with underlying International profits5 up 7.6% to £45.3 million and underlying UK losses5 slightly lower at £21.5 million
Group loss before tax and after exceptional and non-underlying items of £26.3 million, which includes a non-underlying non-cash foreign currency charge of £14.9 million
Net debt of £46.5 million, in line with previous guidance. Further covenant headroom and facilities put in place in May 2014
Operating highlights
International space up 13.1%1 and sales up 9.3% in constant currency with 1,221 stores in 59 countries
Reshaping of the UK business continues with the closure of an additional net 35 loss-making stores and refits in some key stores
Multi-channel growth with UK Direct sales now 29% of total UK sales and a third of online orders collected in store
In the UK, Mobile is growing rapidly and now accounts for 35% of UK online traffic
Ten International websites in place
Highlights for FY2013/14
Financial highlights
Worldwide network sales3 up 0.5%1 to £1,191.5 million with total International sales up 6.4%1 despite significant currency headwinds and total UK sales down 7.5% as further loss-making stores were closed
International like-for-like sales3 up 2.5%1; UK like-for-like sales3 down 1.9%, on an improving trend after a 3.6% decline last year
Underlying profit before tax5 of £9.5 million compared to £5.9 million last year with underlying International profits5 up 7.6% to £45.3 million and underlying UK losses5 slightly lower at £21.5 million
Group loss before tax and after exceptional and non-underlying items of £26.3 million, which includes a non-underlying non-cash foreign currency charge of £14.9 million
Net debt of £46.5 million, in line with previous guidance. Further covenant headroom and facilities put in place in May 2014
Operating highlights
International space up 13.1%1 and sales up 9.3% in constant currency with 1,221 stores in 59 countries
Reshaping of the UK business continues with the closure of an additional net 35 loss-making stores and refits in some key stores
Multi-channel growth with UK Direct sales now 29% of total UK sales and a third of online orders collected in store
In the UK, Mobile is growing rapidly and now accounts for 35% of UK online traffic
Ten International websites in place
skinny
- 22 May 2014 11:18
- 334 of 454
Cantor Fitzgerald Sell 166.38 114.00 114.00 Reiterates
cynic
- 22 May 2014 11:47
- 335 of 454
meanwhile, some very burnt bears
skinny
- 22 May 2014 13:49
- 336 of 454
Numis Hold 163.50 - 150.00 Reiterates
Shortie - 22 May 2014 14:06 - 337 of 454
I don't know, failed to break 168 short term resistance. In store UK stock is still well over priced to competition and lacking in design. Not a stock I'd buy at these prices, may at 80p
skinny
- 22 May 2014 14:18
- 338 of 454
Shortie - I want to short it - not sleep with it! :-)
Shortie - 22 May 2014 14:58 - 339 of 454
You never know, some of those MILF's!!
goldfinger
- 22 May 2014 15:14
- 340 of 454
Talking of shorting. Evil K says hes not budging, hes even thinking of adding to his short.
Dont know what his position is with MILFs though, but I do know hes partial to the odd Cougar.............or two..........and at the same time.!!!!!!
Where does he get his energy from.???
Dont know what his position is with MILFs though, but I do know hes partial to the odd Cougar.............or two..........and at the same time.!!!!!!
Where does he get his energy from.???
cynic
- 22 May 2014 15:25
- 341 of 454
is he not a fat whale?
if so, it just goes to show what an even fatter wallet can achieve :-)
if so, it just goes to show what an even fatter wallet can achieve :-)
Shortie - 22 May 2014 15:31 - 342 of 454
Blue Zeus no doubt!!
skinny
- 22 May 2014 15:33
- 343 of 454
Herbal - that's ok then! :-)
cynic
- 22 May 2014 15:33
- 344 of 454
glad not to need such encouragement
goldfinger
- 22 May 2014 15:42
- 345 of 454
LOL.......ive seen them in a wall vending machine in the bogs in Tesco. £2 a s-ag.
Cheaper to eat Banana skin, Im told its a fantastic aphrodisiac.
Cheaper to eat Banana skin, Im told its a fantastic aphrodisiac.
Shortie - 22 May 2014 15:46 - 346 of 454
Eat a Banana skin, are you for real? Think if I had to eat a Banana skin beforehand I'd definatly need the Zeus.
skinny
- 22 May 2014 15:54
- 347 of 454
Appropriate thread really!!! :-))
jimmy b
- 22 May 2014 15:54
- 348 of 454
Better to have Girls Aloud round for the evening
cynic
- 22 May 2014 15:57
- 349 of 454
depends if you have thin walls to your semi :-)
Shortie - 22 May 2014 15:59 - 350 of 454
If you got a semi then you'll be needing the Zeus!! lol..
jimmy b
- 22 May 2014 16:02
- 351 of 454
:))
Shortie - 22 May 2014 16:05 - 352 of 454
Apparently they also do Pink Zeus for the ladies, this could well make things interesting.
Shortie - 22 May 2014 16:09 - 353 of 454
Its actually called Pink Venus, the reviews for couples taking the stuff together sound interesting...
Shortie - 22 May 2014 16:16 - 354 of 454
This thread has now gone very quiet, LMFAO as I know some are looking it up and more than likely thinking about spiking the Mrs...
goldfinger
- 22 May 2014 16:16
- 355 of 454
No kidding banana skin, not the whole skin just little pieces.
Ive been told this in confidence and diss-associate myself from the findings.
Ive found the best thing to be PORRIDGE.
Ive been told this in confidence and diss-associate myself from the findings.
Ive found the best thing to be PORRIDGE.
jimmy b
- 22 May 2014 16:19
- 356 of 454
GF i often have a bowl of porridge and a banana its my favourite combo ,i wondered why i was such a stud ,that explains it .
skinny
- 22 May 2014 16:20
- 357 of 454
goldfinger
- 22 May 2014 16:21
- 358 of 454
LOL LOL LOL Jimmy.
Shortie - 22 May 2014 16:21 - 359 of 454
I don't wanna know what your doing with the banana and porridge GF....
goldfinger
- 22 May 2014 17:59
- 360 of 454
No I dont think I want to know either he he. All very kinky.
Wheres manuel, hes into that kind of thing.
Wheres manuel, hes into that kind of thing.
cynic
- 22 May 2014 20:22
- 361 of 454
what do you care sticky; you've squelched me :-)
goldfinger
- 22 May 2014 23:23
- 362 of 454
When Fred gets back your mince meat.
cynic
- 23 May 2014 07:20
- 363 of 454
why you silly boy?
i pay even less attention to what fred posts that even you
anyway, you say you've filtered me, but seem totally up to speed with my posts :-)
i pay even less attention to what fred posts that even you
anyway, you say you've filtered me, but seem totally up to speed with my posts :-)
skinny
- 04 Jun 2014 13:07
- 364 of 454
Currently in auction - quite a reversal.
Shortie - 04 Jun 2014 16:10 - 365 of 454
Failed to achieve 200p, lets see if it tries again..
skinny
- 02 Jul 2014 07:12
- 366 of 454
Confirmation of Interest in a Combination
Destination Maternity Corporation Confirms Its Interest in a Combination with Mothercare plc to Create Global Leader in Maternity, Baby and Young Children's Apparel and Products
Philadelphia, PA - 2 July 2014 - Destination Maternity Corporation (Nasdaq: DEST) ("Destination Maternity") is making an announcement today as required by the UK Takeover Code in light of the recent press speculation in respect of Mothercare plc ("Mothercare" or the "Company"). Destination Maternity confirms that it has submitted two non-binding written proposals to Mothercare about a possible combination of the two companies, which have both been rejected by the Board of Directors of Mothercare. Destination Maternity believes its latest increased proposal, which was delivered on 1 June 2014, provides a strong basis for discussions between the parties but Mothercare has refused to engage with Destination Maternity on its proposals. Destination Maternity continues to evaluate its options with regard to a possible combination.
Destination Maternity's latest proposal is for a combination of the two companies under a new UK holding company, which would be listed in the U.S., whereby Mothercare shareholders would receive 300 pence for each Mothercare share, which today would comprise 230 pence in cash and shares in the new holding company valued at 70 pence, and which would value all the issued share capital of Mothercare at approximately £266 million ($453 million, note 1).
Destination Maternity also proposed a mix and match election under which Mothercare shareholders could elect to receive more shares or more cash in an offer, subject to equal and opposite elections by other shareholders.
Destination Maternity's proposal represents:
(i) a premium of approximately 29% to the closing price of Mothercare shares of 232.5 pence on 1 July 2014;
(ii) a premium of approximately 90% to the closing price of Mothercare shares of 157.75 pence on 26 May 2014 (the last trading price before Destination Maternity's original proposal of 27 May 2014);
(iii) a premium of approximately 64% to the closing price of Mothercare shares of 182.50 pence on 30 May 2014 (the last trading price before Destination Maternity's second proposal of 1 June 2014);
(iv) a premium of approximately 86% to the volume-weighted average price of Mothercare shares for the one-month period prior to 26 May 2014 of 161.23 pence; and
(v) an increase of 9% - 20% to the original proposal made by Destination Maternity on 27 May 2014 under which Mothercare shareholders would have received between 250 - 275 pence for each Mothercare share.
more.....
Destination Maternity Corporation Confirms Its Interest in a Combination with Mothercare plc to Create Global Leader in Maternity, Baby and Young Children's Apparel and Products
Philadelphia, PA - 2 July 2014 - Destination Maternity Corporation (Nasdaq: DEST) ("Destination Maternity") is making an announcement today as required by the UK Takeover Code in light of the recent press speculation in respect of Mothercare plc ("Mothercare" or the "Company"). Destination Maternity confirms that it has submitted two non-binding written proposals to Mothercare about a possible combination of the two companies, which have both been rejected by the Board of Directors of Mothercare. Destination Maternity believes its latest increased proposal, which was delivered on 1 June 2014, provides a strong basis for discussions between the parties but Mothercare has refused to engage with Destination Maternity on its proposals. Destination Maternity continues to evaluate its options with regard to a possible combination.
Destination Maternity's latest proposal is for a combination of the two companies under a new UK holding company, which would be listed in the U.S., whereby Mothercare shareholders would receive 300 pence for each Mothercare share, which today would comprise 230 pence in cash and shares in the new holding company valued at 70 pence, and which would value all the issued share capital of Mothercare at approximately £266 million ($453 million, note 1).
Destination Maternity also proposed a mix and match election under which Mothercare shareholders could elect to receive more shares or more cash in an offer, subject to equal and opposite elections by other shareholders.
Destination Maternity's proposal represents:
(i) a premium of approximately 29% to the closing price of Mothercare shares of 232.5 pence on 1 July 2014;
(ii) a premium of approximately 90% to the closing price of Mothercare shares of 157.75 pence on 26 May 2014 (the last trading price before Destination Maternity's original proposal of 27 May 2014);
(iii) a premium of approximately 64% to the closing price of Mothercare shares of 182.50 pence on 30 May 2014 (the last trading price before Destination Maternity's second proposal of 1 June 2014);
(iv) a premium of approximately 86% to the volume-weighted average price of Mothercare shares for the one-month period prior to 26 May 2014 of 161.23 pence; and
(v) an increase of 9% - 20% to the original proposal made by Destination Maternity on 27 May 2014 under which Mothercare shareholders would have received between 250 - 275 pence for each Mothercare share.
more.....
Stan
- 02 Jul 2014 09:06
- 367 of 454
Offer Rejected:
Mothercare has turned down two takeover bids from US-based Destination Maternity, the US company revealed on Wednesday.
Nasdaq-listed Destination Maternity said its second written offer on Tuesday was was worth 300p per Mothercare share, valuing its London-listed peer at £266m ($455m).
That price was a premium of roughly 29% to Mothercare's closing share price on July 1st and a 90% premium to the share price just before the first proposal was made on May 26th.
The second offer would have seen shareholders offered 230p in cash, and 70p in shares of a new combined US-listed, UK-domiciled company.
However, both proposals were rejected by Mothercare's board, which has so far refused to engage in talks.
Mothercare has turned down two takeover bids from US-based Destination Maternity, the US company revealed on Wednesday.
Nasdaq-listed Destination Maternity said its second written offer on Tuesday was was worth 300p per Mothercare share, valuing its London-listed peer at £266m ($455m).
That price was a premium of roughly 29% to Mothercare's closing share price on July 1st and a 90% premium to the share price just before the first proposal was made on May 26th.
The second offer would have seen shareholders offered 230p in cash, and 70p in shares of a new combined US-listed, UK-domiciled company.
However, both proposals were rejected by Mothercare's board, which has so far refused to engage in talks.
skinny
- 07 Jul 2014 10:14
- 368 of 454
Mothercare's decision to reject a £270m takeover approach from US rival Destination Maternity has won the backing of two leading institutional shareholders, Fidelity and Allianz Global Investors. Support for the board's position comes despite Destination Maternity's Chief Executive, Ed Krell - a former investment banker - last week flying to the UK to press the case for a deal. - The Guardian
skinny
- 17 Jul 2014 07:03
- 369 of 454
Interim management Statement
Overview for Q1 - 15 weeks to 12 July 2014
International back to double-digit growth with space up 13.3% and constant currency sales up 14.7%. As anticipated currency devaluation has impacted reported retail sales
Global retail space up 7.1% year-on-year with 4.5 million sq.ft. and 1,476 stores in 60 countries
UK like-for-like sales up 0.9% and decline in total UK sales in line with space reduction
Worldwide network sales up 0.2% with Group reported sales down 1.8%
Reduced discount activity in the UK has led to lower sales online at better cash margins, which was in line with expectations
Mark Newton-Jones confirmed as Chief Executive Officer today
more...
Overview for Q1 - 15 weeks to 12 July 2014
International back to double-digit growth with space up 13.3% and constant currency sales up 14.7%. As anticipated currency devaluation has impacted reported retail sales
Global retail space up 7.1% year-on-year with 4.5 million sq.ft. and 1,476 stores in 60 countries
UK like-for-like sales up 0.9% and decline in total UK sales in line with space reduction
Worldwide network sales up 0.2% with Group reported sales down 1.8%
Reduced discount activity in the UK has led to lower sales online at better cash margins, which was in line with expectations
Mark Newton-Jones confirmed as Chief Executive Officer today
more...
skinny
- 28 Jul 2014 07:19
- 370 of 454
Oooops!
Response to announcement
The Board of Mothercare (the "Board") notes the announcement by Destination Maternity that, in accordance with the requirements of the UK City Code on Takeovers and Mergers (the "Takeover Code"), Destination Maternity does not intend to make an offer for Mothercare. The Board also notes that it has had no contact with Destination Maternity since 3 June 2014.
As announced in the trading update on 17 July 2014, with the appointment of Mark Newton-Jones as Chief Executive, Mothercare is now fully focused on the Company's plan to turnaround the UK business and to continue its strong International growth. The Board remains confident in the ongoing execution of Mothercare's strategy as an independent company.
Response to announcement
The Board of Mothercare (the "Board") notes the announcement by Destination Maternity that, in accordance with the requirements of the UK City Code on Takeovers and Mergers (the "Takeover Code"), Destination Maternity does not intend to make an offer for Mothercare. The Board also notes that it has had no contact with Destination Maternity since 3 June 2014.
As announced in the trading update on 17 July 2014, with the appointment of Mark Newton-Jones as Chief Executive, Mothercare is now fully focused on the Company's plan to turnaround the UK business and to continue its strong International growth. The Board remains confident in the ongoing execution of Mothercare's strategy as an independent company.
skinny
- 10 Oct 2014 07:04
- 371 of 454
Admission of Nil Paid Rights
Mothercare plc (the "Company") announces that, pursuant to the Rights Issue announced on 23 September 2014, 79,942,294 New Ordinary Shares of 50 pence each will be admitted to listing on the premium listing segment of the Official List of the UKLA and will be admitted, nil paid, to trading on the London Stock Exchange plc's main market for listed securities at 8.00 a.m. today.
Mothercare plc (the "Company") announces that, pursuant to the Rights Issue announced on 23 September 2014, 79,942,294 New Ordinary Shares of 50 pence each will be admitted to listing on the premium listing segment of the Official List of the UKLA and will be admitted, nil paid, to trading on the London Stock Exchange plc's main market for listed securities at 8.00 a.m. today.
mitzy - 10 Oct 2014 08:18 - 372 of 454
Just knew it.
hangon - 10 Oct 2014 11:57 - 373 of 454
Surely the recent US-Offer was quite good for shareholders with their own money in the business? Seems to me that the recent rights was a ~1:1 dilution ( DYOR ). and that merely demonstrated the dire Quality of the existing Execs. . . . so the sooner they leave ( at zero cost ) the better. Today Close, 170p.
Institutional shareholders are not likely to be affected by any result and I distrust their actions across the Market.
Institutional shareholders are not likely to be affected by any result and I distrust their actions across the Market.
Shortie - 10 Oct 2014 16:00 - 374 of 454
Back on my short watch list.... 70p would come as no surprise in Q1 2015
Stan
- 09 Dec 2014 08:11
- 375 of 454
skinny
- 15 Jan 2015 07:15
- 376 of 454
Q3 trading update
Mothercare plc, the leading global retailer for parents and young children, today issues the following trading update, which covers the 13 week period to 10 January 2015.
Overview for Q3 - 13 weeks to 10 January 2015
Financial highlights
International double-digit growth with constant currency sales up 14.4% and space up 11.5%. As expected, currency devaluation has impacted reported retail sales growth
UK like-for-like sales up 1.1% with total UK sales down 1.9% despite space being down 4.2%
Multi-channel growth with UK online sales up 16.1%, representing 31.8% of total UK sales (26.9% last year)
UK gross margin rate continues to stabilise as a result of more full price sales, lower levels of promotional activity and delaying the end of season sale until Boxing Day
Worldwide sales up 2.2% with reported total Group sales down 2.9%
Operational highlights
Mobile continuing to grow and now accounting for 75% of UK online sessions (65% last year)
Q3 click-and-collect orders up 10.7% representing 36.6% of UK online orders
End of season sale stock 16% lower and sell through rate to date 13% better than last year
During the quarter, we opened 24 International stores (103 opened YTD) and closed 6 UK stores (20 closed YTD)
more....
Mothercare plc, the leading global retailer for parents and young children, today issues the following trading update, which covers the 13 week period to 10 January 2015.
Overview for Q3 - 13 weeks to 10 January 2015
Financial highlights
International double-digit growth with constant currency sales up 14.4% and space up 11.5%. As expected, currency devaluation has impacted reported retail sales growth
UK like-for-like sales up 1.1% with total UK sales down 1.9% despite space being down 4.2%
Multi-channel growth with UK online sales up 16.1%, representing 31.8% of total UK sales (26.9% last year)
UK gross margin rate continues to stabilise as a result of more full price sales, lower levels of promotional activity and delaying the end of season sale until Boxing Day
Worldwide sales up 2.2% with reported total Group sales down 2.9%
Operational highlights
Mobile continuing to grow and now accounting for 75% of UK online sessions (65% last year)
Q3 click-and-collect orders up 10.7% representing 36.6% of UK online orders
End of season sale stock 16% lower and sell through rate to date 13% better than last year
During the quarter, we opened 24 International stores (103 opened YTD) and closed 6 UK stores (20 closed YTD)
more....
Chris Carson
- 03 Feb 2015 09:47
- 377 of 454
Seems to be on a roll. Nice gap to be filled eventually. Limit buy left @ 202.0 if filled tight stop 192.0
Chris Carson
- 09 Mar 2015 08:48
- 378 of 454
HEADS UP!!
KEEP AN EYE ON ETX CAPITAL SPREAD BETTING PLATFORM.
On 25th Feb opened a spread bet on MTC @ 189.53 Stop 184.53
Stopped out 0812 this morning @ 172.72 for an alleged loss - 15.3
Needless to say was on the blower like a shot. They confirmed SP didn't happen and reinstated the trade. Never had this problem with Cap Spreads, very rarely use ETX except on short term trades cause they don't offer quarterly bets. Beware. Hopefully this was just a one off genuine mistake.
KEEP AN EYE ON ETX CAPITAL SPREAD BETTING PLATFORM.
On 25th Feb opened a spread bet on MTC @ 189.53 Stop 184.53
Stopped out 0812 this morning @ 172.72 for an alleged loss - 15.3
Needless to say was on the blower like a shot. They confirmed SP didn't happen and reinstated the trade. Never had this problem with Cap Spreads, very rarely use ETX except on short term trades cause they don't offer quarterly bets. Beware. Hopefully this was just a one off genuine mistake.
Chris Carson
- 18 Mar 2015 14:31
- 379 of 454
Cap Spreads suspended trading on this stock. ETX Capital phone only :0)
jimmy b
- 18 Mar 2015 14:43
- 380 of 454
No problem on IG Chris .
Chris Carson
- 18 Mar 2015 14:48
- 381 of 454
Happens all the time on ETX, rare on Caps Jimmy.
Chris Carson
- 19 Mar 2015 16:23
- 382 of 454
Chris Carson
- 23 Mar 2015 09:07
- 383 of 454
Making good headway to closing that gap.
Chris Carson
- 13 Apr 2015 16:25
- 384 of 454
Chris Carson
- 13 Apr 2015 16:26
- 385 of 454
OOPS wrong chart.
Chris Carson
- 13 Apr 2015 16:27
- 386 of 454
That's the one :0)
skinny
- 13 Apr 2015 16:27
- 387 of 454
Edited - too slow! :-)
Chris Carson
- 13 Apr 2015 16:33
- 388 of 454
:0)
skinny
- 13 Apr 2015 16:36
- 389 of 454
Chris - you could of just edited your post 384 and replaced "ADN" with "MTC" in the chart text.
Chris Carson
- 13 Apr 2015 17:01
- 390 of 454
skinny - It's taken me over 10 years to realise there is more than one chart size let alone anything else :0)
skinny
- 13 Apr 2015 17:01
- 391 of 454
Is there? :-)
skinny
- 16 Apr 2015 07:11
- 392 of 454
Q4 trading update
Financial highlights
Worldwide sales growth of 4.1%, with growth in both UK and International
International retail sales growth of 11.4% at constant currency, with currency continuing to have an adverse impact
UK beginning to see some benefit from initiatives taken over the year with total UK sales up 1.5% and UK like-for-like sales growth of 5.1%, with positive like-for-like delivered for each quarter of the financial year
Gross margins continuing to stabilise
Operational highlights
International space up 9.0%, ending the year with 2.9m sq.ft. of space and 1,273 stores
UK space down 4.5%, ending the year with 1.7m sq.ft. of space and 189 stores, as space rationalisation has continued as planned
Online sales growth of c.32% during the quarter and now representing c.30% of total UK sales (c.25% last year)
Mobile sales growth of c.31% and click-and-collect now running at c.36% of total online orders
more...
Financial highlights
Worldwide sales growth of 4.1%, with growth in both UK and International
International retail sales growth of 11.4% at constant currency, with currency continuing to have an adverse impact
UK beginning to see some benefit from initiatives taken over the year with total UK sales up 1.5% and UK like-for-like sales growth of 5.1%, with positive like-for-like delivered for each quarter of the financial year
Gross margins continuing to stabilise
Operational highlights
International space up 9.0%, ending the year with 2.9m sq.ft. of space and 1,273 stores
UK space down 4.5%, ending the year with 1.7m sq.ft. of space and 189 stores, as space rationalisation has continued as planned
Online sales growth of c.32% during the quarter and now representing c.30% of total UK sales (c.25% last year)
Mobile sales growth of c.31% and click-and-collect now running at c.36% of total online orders
more...
skinny
- 21 May 2015 07:10
- 393 of 454
Final Results
Highlights for FY2014/15
Financial highlights
Underlying profit before tax up 37% at £13.0m [FY2013/14: £9.5m]
International like-for-like sales1 up 5.6%, constant currency total sales up 12.4%, total International reported sales up 2.2% and underlying International profit2 up 1% at £45.9m [FY2013/14: £45.3m]
UK like-for-like sales1 up 2.0% with gross margin stabilised, total UK sales down (0.9)% as further underperforming stores were closed and underlying UK losses2 lower at £(18.0)m [FY2013/14: £(21.5)m]
Worldwide sales1 up 1.0% at £1,203m, International now accounts for 64% of worldwide space and 62% of worldwide sales
Statutory reported loss before tax of £(13.1)m [FY2013/14: £(26.3)m]
Successfully refinanced the business, ending the year with net cash of £31.5m compared to net debt £(46.5)m in FY2013/14
Strategic and operating highlights
Progress made against all six strategic pillars:
Become a digitally led business
Online sales up 18%, accounting for 30% of total UK sales with over a third of online orders collected in store and 82% of online traffic now generated from mobile
A significant increase in product images, videos and customer reviews online and an accelerated growth in our customer database
Supported by a modern retail estate
Closed a further 31 loss-making stores and resited one in the UK
Gateshead and Solihull refurbished to the new format, clothing biased stores trialled and our first year of refits now identified
Offering style, quality and innovation in product and great service
Introduced more phased launches of product in Clothing & footwear, Home & travel and Toys
Introduced more brands and increased exclusivity across all of our product categories
Stabilise and recapture gross margin
Margins stabilised after five years of decline
Moving back to being a full price retailer with shorter discount periods and better planned promotions
Running a lean organisation while investing for the future
Costs well managed and stock cover reduced in the UK
Invested in management and colleagues as well as our systems to support the strategic pillars
Expanding further internationally
Space up 9.0% with 1,273 stores in 60 countries as 52 stores opened
Entered a new territory - South Korea with an initial four stores
Highlights for FY2014/15
Financial highlights
Underlying profit before tax up 37% at £13.0m [FY2013/14: £9.5m]
International like-for-like sales1 up 5.6%, constant currency total sales up 12.4%, total International reported sales up 2.2% and underlying International profit2 up 1% at £45.9m [FY2013/14: £45.3m]
UK like-for-like sales1 up 2.0% with gross margin stabilised, total UK sales down (0.9)% as further underperforming stores were closed and underlying UK losses2 lower at £(18.0)m [FY2013/14: £(21.5)m]
Worldwide sales1 up 1.0% at £1,203m, International now accounts for 64% of worldwide space and 62% of worldwide sales
Statutory reported loss before tax of £(13.1)m [FY2013/14: £(26.3)m]
Successfully refinanced the business, ending the year with net cash of £31.5m compared to net debt £(46.5)m in FY2013/14
Strategic and operating highlights
Progress made against all six strategic pillars:
Become a digitally led business
Online sales up 18%, accounting for 30% of total UK sales with over a third of online orders collected in store and 82% of online traffic now generated from mobile
A significant increase in product images, videos and customer reviews online and an accelerated growth in our customer database
Supported by a modern retail estate
Closed a further 31 loss-making stores and resited one in the UK
Gateshead and Solihull refurbished to the new format, clothing biased stores trialled and our first year of refits now identified
Offering style, quality and innovation in product and great service
Introduced more phased launches of product in Clothing & footwear, Home & travel and Toys
Introduced more brands and increased exclusivity across all of our product categories
Stabilise and recapture gross margin
Margins stabilised after five years of decline
Moving back to being a full price retailer with shorter discount periods and better planned promotions
Running a lean organisation while investing for the future
Costs well managed and stock cover reduced in the UK
Invested in management and colleagues as well as our systems to support the strategic pillars
Expanding further internationally
Space up 9.0% with 1,273 stores in 60 countries as 52 stores opened
Entered a new territory - South Korea with an initial four stores
skinny
- 23 Jul 2015 08:06
- 394 of 454
Q1 trading update
Mothercare plc, the leading global retailer for parents and young children, today issues the following trading update, which covers the 15 week period to 11 July 2015.
Overall trading is in line with expectations with the UK making a good start to the year and International seeing some macro volatility as anticipated.
International highlights
International space up 8% year-on-year despite the c2% reduction during Q4 last year which reflects the closure of some ELC concessions within department stores. International now trading from 1,299 stores and 2.97m sq.ft. of retail space
International retail sales down (1.3)% in constant currency as increased levels of economic risk impact consumer confidence. Currency headwinds further impacted international retail sales in actual currencies which were down (4.8)%
Asia and Europe both saw growth in constant currencies with Latin America and the Middle East weaker. The Middle East has been impacted by a reduction in markdown and discount activity and the delay into Q2 of the end-of-season sale which is after Ramadan and Eid
UK highlights
UK continuing to benefit from strategic initiatives with gains in gross margin, online sales growth of 24% and like-for-like sales growth of 1.3%
Reconfiguration of UK space continuing in line with expectations with space reduced by 5.3% year-on-year and a number of newly refurbished stores opened across various locations. UK now trading from 180 stores and 1.64m sq.ft. of retail space
iPads rolled out to all stores, allowing our teams to show customers our richer online content of photography, videos and customer reviews
Group highlights
Worldwide sales down (3.5)% and Total Group sales down (5.2)% reflecting ongoing store closures in the UK and macro headwinds seen in our International business
more....
Mothercare plc, the leading global retailer for parents and young children, today issues the following trading update, which covers the 15 week period to 11 July 2015.
Overall trading is in line with expectations with the UK making a good start to the year and International seeing some macro volatility as anticipated.
International highlights
International space up 8% year-on-year despite the c2% reduction during Q4 last year which reflects the closure of some ELC concessions within department stores. International now trading from 1,299 stores and 2.97m sq.ft. of retail space
International retail sales down (1.3)% in constant currency as increased levels of economic risk impact consumer confidence. Currency headwinds further impacted international retail sales in actual currencies which were down (4.8)%
Asia and Europe both saw growth in constant currencies with Latin America and the Middle East weaker. The Middle East has been impacted by a reduction in markdown and discount activity and the delay into Q2 of the end-of-season sale which is after Ramadan and Eid
UK highlights
UK continuing to benefit from strategic initiatives with gains in gross margin, online sales growth of 24% and like-for-like sales growth of 1.3%
Reconfiguration of UK space continuing in line with expectations with space reduced by 5.3% year-on-year and a number of newly refurbished stores opened across various locations. UK now trading from 180 stores and 1.64m sq.ft. of retail space
iPads rolled out to all stores, allowing our teams to show customers our richer online content of photography, videos and customer reviews
Group highlights
Worldwide sales down (3.5)% and Total Group sales down (5.2)% reflecting ongoing store closures in the UK and macro headwinds seen in our International business
more....
Chris Carson
- 22 Oct 2015 07:21
- 395 of 454
Mothercare Plc trading in line with FY expectations
StockMarketWire.com
Stan
- 19 Nov 2015 09:22
- 396 of 454
Half Year results http://www.moneyam.com/action/news/showArticle?id=5156558
Stan
- 14 Apr 2016 09:49
- 397 of 454
Trading statement http://www.moneyam.com/action/news/showArticle?id=5298951
cynic
- 14 Apr 2016 10:10
- 398 of 454
and what a hammering ..... now down nearly 30%
i was slightly tempted to short these a few weeks ago, and was surprised how well the share seemed to be performing ....... goes to show what we don't know!
i was slightly tempted to short these a few weeks ago, and was surprised how well the share seemed to be performing ....... goes to show what we don't know!
cynic
- 19 Apr 2016 16:34
- 399 of 454
kerrrrrrplunkkkkkkkkk!
what a bonanza for anyone who shorted before the figures
what a bonanza for anyone who shorted before the figures
Stan
- 18 May 2017 12:04
- 400 of 454
Stan
- 13 Jun 2017 10:55
- 401 of 454
Aberdeen Asset Managers Limited go above 10%.
Stan
- 14 Jun 2017 12:42
- 402 of 454
Aberdeen Asset Managers Limited go below 10%.
skinny
- 14 Jun 2017 13:02
- 403 of 454
Clocktower - 15 Jun 2017 12:14 - 404 of 454
Skinny, I would not be surprised if they were to march up another even higher hill once again.
I like this stock due to the fact that the focus of the business on this one sector. In addition the potential overseas growth due the the weakness of the pound.
Truely a destination store.
I have been adding this morning at around 1.19
I like this stock due to the fact that the focus of the business on this one sector. In addition the potential overseas growth due the the weakness of the pound.
Truely a destination store.
I have been adding this morning at around 1.19
cynic
- 15 Jun 2017 17:27
- 405 of 454
a destination store? ...... in your dreams
supermarkets now stock very good quality and cheap baby clothes
things like prams will generally be bought on line
supermarkets now stock very good quality and cheap baby clothes
things like prams will generally be bought on line
Clocktower - 15 Jun 2017 20:41 - 406 of 454
MTC have a great oniline business http://www.mothercare.com/ as well and is an international growth area - how many other companies have an intenational brand and foothold?
Regardsless of cheap baby clothes being sold in supermarkets, MTC is the place to shop and they have so many exclusive lines, including top selling prams, quality car baby/child seats that supermarkets do not stock - nursery furniture - plus expert advice., advice the supermarkets cannot give.
How many middle earning families that are expecting, will not go into a Mothercare Shop before the arrival, and in turn the Grans to be etc. to pick up gifts and ideas for mum to be, and remember it is the silver surfers that trust the brand and will place orders on-line. This is one retail business that will be pretty solid in hard times as well.
The new formated stores are performing and the job is almost done, plus the international business is the real jewel in the crown going forward. I would not be surprised to see the Chinesse coming in with a bid before the company starts to show what progress they have made over the past two years, DYOR
Brokers have also raised their targets and i expect will continue to do so.
Regardsless of cheap baby clothes being sold in supermarkets, MTC is the place to shop and they have so many exclusive lines, including top selling prams, quality car baby/child seats that supermarkets do not stock - nursery furniture - plus expert advice., advice the supermarkets cannot give.
How many middle earning families that are expecting, will not go into a Mothercare Shop before the arrival, and in turn the Grans to be etc. to pick up gifts and ideas for mum to be, and remember it is the silver surfers that trust the brand and will place orders on-line. This is one retail business that will be pretty solid in hard times as well.
The new formated stores are performing and the job is almost done, plus the international business is the real jewel in the crown going forward. I would not be surprised to see the Chinesse coming in with a bid before the company starts to show what progress they have made over the past two years, DYOR
Brokers have also raised their targets and i expect will continue to do so.
cynic
- 15 Jun 2017 21:34
- 407 of 454
my daughter for starters who has a 17 month and a new born and my daughter-in-law whose 2 boys are now 5 and 7 or thereabouts
anyway, your choice where you put your money, but MTC is assuredly not mine
anyway, your choice where you put your money, but MTC is assuredly not mine
Clocktower - 16 Jun 2017 12:32 - 408 of 454
Each to their own cynic, I expect you are so wealthy that your grandchildren only get designer products, or she is so concerned with her budget that she shops at supermarkets and so called discount/outlet centres. :-)
Good luck.
Good luck.
cynic
- 16 Jun 2017 13:03
- 409 of 454
my youngest grandchildren mostly have their clothes bought at ASDA (designed by "george" i think)
apparently the range, styling, quality and price are outstanding
apparently the range, styling, quality and price are outstanding
Clocktower - 16 Jun 2017 13:55 - 410 of 454
LOL - designed by "George" you mean the label says George as George may have looked at it and noded his head.
It might well outstanding but unlike MTC they do not have an international branding like Mothercare or have such an extensive range of reasonable quality products that in many cases, I suspect are of far better quality than many so called designer labels.
The store on a high street, that I see when shopping, is always reasonably busy and the staff look happy and it has a great reputation.
It might well outstanding but unlike MTC they do not have an international branding like Mothercare or have such an extensive range of reasonable quality products that in many cases, I suspect are of far better quality than many so called designer labels.
The store on a high street, that I see when shopping, is always reasonably busy and the staff look happy and it has a great reputation.
cynic
- 16 Jun 2017 13:59
- 411 of 454
george (assuredly not a designer label) will almost certainly be run by some sort of committee, as is the case with most large fashion houses
nevertheless, they seem to have got the touch at least for now
nevertheless, they seem to have got the touch at least for now
Clocktower - 27 Jun 2017 13:27 - 412 of 454
MTC seems to be breaking out from its recent range cynic, so let us hope this trend continues.
This is more than selling baby grows - MTC Grows
Currently in the 125/127 range.
This is more than selling baby grows - MTC Grows
Currently in the 125/127 range.
cynic
- 27 Jun 2017 13:42
- 413 of 454
enjoy :-)
Clocktower - 27 Jun 2017 13:52 - 414 of 454
Hopefully it will continue, so I can. Thanks.
Clocktower - 30 Jun 2017 11:32 - 415 of 454
Disappointing - you were correct cynic - still out now, just about square.
cynic
- 30 Jun 2017 12:05
- 416 of 454
most stocks were caught in yesterday's squall, but longer term, you already know my views on MTC ....... they're not necessarily right, but high street stocks are high risk for all the obvious reasons
Clocktower - 11 Jul 2017 11:03 - 417 of 454
With such a good level of trade being done on-line by MTC - it seems a fair wager to get a few back in at around these levels - 1.05/1.06. We shall see this time around cynic.
cynic
- 11 Jul 2017 16:37
- 418 of 454
i hear MTC now stock a line of sharp kitchen knives :-)
Clocktower - 13 Jul 2017 09:38 - 419 of 454
LOL - It is a cut throat business and a set of knives might come in handy if one was minded to slit the throats of those that are cynical about MTC`s prospects.
If the figures are better than expected then whoosh - upwards and onwards, if not cut and run?
If the figures are better than expected then whoosh - upwards and onwards, if not cut and run?
Stan
- 20 Jul 2017 07:20
- 420 of 454
Trading statement http://www.moneyam.com/action/news/showArticle?id=5594019
Clocktower - 24 Jul 2017 19:42 - 421 of 454
Bounced nicely off its lows on the day of the T/S and seems as though the recovery might continue, at least it has not been death by a thousand cuts cynic.
Clocktower - 08 Aug 2017 10:37 - 422 of 454
Settled nicely around these levels and and positive statement could soon seen these restored to 1.20+ range imo.
Hopefully the growth of their on-line sales will be the attraction that may turn the tide.
Hopefully the growth of their on-line sales will be the attraction that may turn the tide.
blackdown - 23 Nov 2017 08:55 - 423 of 454
Or perhaps not.
cynic
- 23 Nov 2017 09:19
- 424 of 454
i have long reckoned MTC to be a crap company, and today's figures do nothing to change that
Clocktower - 24 Nov 2017 15:34 - 425 of 454
Hope you shorted it cynic, if so well done. Looks grim, I agree now.
cynic
- 24 Nov 2017 16:47
- 426 of 454
'fraid not ..... only short CLLN which is doing ok for me
HARRYCAT
- 08 Jan 2018 08:37
- 427 of 454
StockMarketWire.com
Mothercare said its performance was tracking "below expectations" after sales slipped by 2.4% in the 12 weeks through December, driven by lower footfall at its UK stores.
UK like-for-like sales tumbled 7.2%.
"In our UK business, we took a conscious decision to remain at full price to protect our brand positioning prior to Christmas but to then discount more heavily in the end of season sale," chief executive Mark Newton-Jones said.
"We have subsequently seen good progress with strong sell through rates on Autumn winter clearance lines albeit these carry lower margins and will lead to a further reduction in full year margin as a result."
The company said that, in line with previous announcements, it had taken action to reduce its central cost base, with planned financial benefits to materialise next financial year.
"Going forward, we are not anticipating any improvement in the short-term market conditions for the UK and on this basis the adjusted group profit for the year is likely to be in the range of £1m-to-£5m," Newton-Jones said.
"Whilst the performance of the business has been challenging in the last few months, we remain singularly focussed on transforming Mothercare to be the leading global retailer for parents and young children."
Mothercare said its performance was tracking "below expectations" after sales slipped by 2.4% in the 12 weeks through December, driven by lower footfall at its UK stores.
UK like-for-like sales tumbled 7.2%.
"In our UK business, we took a conscious decision to remain at full price to protect our brand positioning prior to Christmas but to then discount more heavily in the end of season sale," chief executive Mark Newton-Jones said.
"We have subsequently seen good progress with strong sell through rates on Autumn winter clearance lines albeit these carry lower margins and will lead to a further reduction in full year margin as a result."
The company said that, in line with previous announcements, it had taken action to reduce its central cost base, with planned financial benefits to materialise next financial year.
"Going forward, we are not anticipating any improvement in the short-term market conditions for the UK and on this basis the adjusted group profit for the year is likely to be in the range of £1m-to-£5m," Newton-Jones said.
"Whilst the performance of the business has been challenging in the last few months, we remain singularly focussed on transforming Mothercare to be the leading global retailer for parents and young children."
Clocktower - 08 Jan 2018 10:15 - 428 of 454
Will they have time to turn it around before a bid comes?
With net debt at £50m what is it worth?
With net debt at £50m what is it worth?
blackdown - 08 Jan 2018 10:29 - 429 of 454
Not a lot. Why bid when you can help yourself to its customers and pick up the pieces (at low/no cost) when it goes belly up.
skinny
- 08 Jan 2018 10:31
- 430 of 454
Peel Hunt Hold 46.58 60.00 40.00 Reiterates
mitzy - 08 Jan 2018 11:04 - 431 of 454
HARRYCAT
- 08 Jan 2018 11:30
- 432 of 454
Canaccord comment today:
Management now expects y/e net debt of c. £50m vs. CGe £34m and stated that there is still 'sufficient' liquidity and covenant headroom at this level. We assume a £5m working capital outflow (partly timing), £27m cash cost for exceptionals and pension and £25m capex. We assume that capex falls from £25m in FY18E to £15m in FY19E. While the benefits of central cost reduction should start to come through in FY19E, should there be no improvement in trading, then we think further action would be required in the run-up to peak trading 2018 to secure liquidity.
We think that there is a place for Mothercare in the UK, but the right-sizing of the store portfolio needs to happen faster. International is profitable and could well return to long-term growth. From an equity investment perspective though, the high operational gearing of the UK business makes the risk:reward ratio highly unfavourable, particularly given the weak balance sheet.
Along with y/e net debt of c. £50m the company has an actuarial pension deficit of £139m (2017 tri-annual valuation). The rent bill was £42.8m in FY17 with total operating lease commitments of £235m (average lease length 4.5 years). So, before attributing any value to the assets of the business, the cost of the liabilities is potentially over £400m.
This makes Mothercare a difficult take-out candidate, despite the potential strategic value of the business. The reality is, in our view, that the UK business would already have gone through administration (and potentially come out a stronger, right-sized business) were it not for the cash flows of International keeping it afloat. We cut our DCF based price target from 47p to 29p, reflecting our earnings cuts as well as lower capex assumptions and a roll-forward. Maintain SELL."
Management now expects y/e net debt of c. £50m vs. CGe £34m and stated that there is still 'sufficient' liquidity and covenant headroom at this level. We assume a £5m working capital outflow (partly timing), £27m cash cost for exceptionals and pension and £25m capex. We assume that capex falls from £25m in FY18E to £15m in FY19E. While the benefits of central cost reduction should start to come through in FY19E, should there be no improvement in trading, then we think further action would be required in the run-up to peak trading 2018 to secure liquidity.
We think that there is a place for Mothercare in the UK, but the right-sizing of the store portfolio needs to happen faster. International is profitable and could well return to long-term growth. From an equity investment perspective though, the high operational gearing of the UK business makes the risk:reward ratio highly unfavourable, particularly given the weak balance sheet.
Along with y/e net debt of c. £50m the company has an actuarial pension deficit of £139m (2017 tri-annual valuation). The rent bill was £42.8m in FY17 with total operating lease commitments of £235m (average lease length 4.5 years). So, before attributing any value to the assets of the business, the cost of the liabilities is potentially over £400m.
This makes Mothercare a difficult take-out candidate, despite the potential strategic value of the business. The reality is, in our view, that the UK business would already have gone through administration (and potentially come out a stronger, right-sized business) were it not for the cash flows of International keeping it afloat. We cut our DCF based price target from 47p to 29p, reflecting our earnings cuts as well as lower capex assumptions and a roll-forward. Maintain SELL."
blackdown - 27 Feb 2018 20:16 - 433 of 454
Heading for the corporate graveyard?
Claret Dragon
- 28 Feb 2018 07:25
- 434 of 454
Mothercare goes down to TEN?
cynic
- 28 Feb 2018 10:40
- 435 of 454
wirth bhindsight (of cpourse0 shame i didn'y have the balls to short MTC back in november
thought i was short CLLN at the time, i also lacked the courage to hold that position, though i'm sure i took at least a modest profit
meanwhile
MTC has long been a basket case in the making, as has been plain to see (and as posted) for many a long day
thought i was short CLLN at the time, i also lacked the courage to hold that position, though i'm sure i took at least a modest profit
meanwhile
MTC has long been a basket case in the making, as has been plain to see (and as posted) for many a long day
hangon - 01 Mar 2018 00:27 - 436 of 454
The issue with "waiting until it goes under" is that more damage may be done and you don't get to keep the ledgers.... all are scattered to the winds. Also, whilst making a Bid might be more-money, in reality you would spend this just trying to gather the scattered pieces.
Therefore, if you wanted a slice of this Business ( or Name, Customer-book, etc.), the smartest thing is to make a Bid -and a moderately good one- before your rivals do.
If no-one likes the business, then let it go under.
Today DYOR, I heard Maplin and ( ToysR Us?) Co have brought in Administrators.... reason being "Brexit" - what an Excuse! . . . and their lack of on-line attention whilst having expensive retail Stores + Staff etc.
Difficult to know where this is going - will "Everything" be On-line soon?
Already it's easier to buy nuts/bolts from China than visit ScrewFix ( who I consider to be expensive, as they only sell box of 200 ).... Whilst they don't have HiStreet stores.....
Therefore, if you wanted a slice of this Business ( or Name, Customer-book, etc.), the smartest thing is to make a Bid -and a moderately good one- before your rivals do.
If no-one likes the business, then let it go under.
Today DYOR, I heard Maplin and ( ToysR Us?) Co have brought in Administrators.... reason being "Brexit" - what an Excuse! . . . and their lack of on-line attention whilst having expensive retail Stores + Staff etc.
Difficult to know where this is going - will "Everything" be On-line soon?
Already it's easier to buy nuts/bolts from China than visit ScrewFix ( who I consider to be expensive, as they only sell box of 200 ).... Whilst they don't have HiStreet stores.....
Claret Dragon
- 01 Mar 2018 07:29
- 437 of 454
It wont happen, but companies like Amazon have to pay their fare share of taxes. Until the playing field is leveled. More Mega sheds will be erected. Modern day, above ground coalmines with no daylight and long shifts.
cynic
- 01 Mar 2018 09:27
- 438 of 454
CD - rubbish! ...... shopping habits have changed and have nothing whatsoever to do with whether or not Company X or Y or Z pay £1 or £10m in taxes
Claret Dragon
- 01 Mar 2018 10:11
- 439 of 454
Take your point :)
mitzy - 01 Mar 2018 10:48 - 440 of 454
Mothercare and Laura Ashley are stuck in the 70's.
mitzy - 02 Mar 2018 16:18 - 441 of 454
Stakeholders will be striped.
jimmy b
- 03 Mar 2018 10:09
- 442 of 454
Carpetright going the same way .
jimmy b
- 03 Mar 2018 10:09
- 443 of 454
mitzy - 05 Mar 2018 15:26 - 444 of 454
2018 could be a good year.
mitzy - 19 Mar 2018 11:39 - 445 of 454
Top faller today not good.
blackdown - 19 Mar 2018 19:29 - 446 of 454
Just shows that director buying isn’t necessarily a good indicator. Two director bought in Jan at 46p/share.
hangon - 03 May 2018 13:38 - 447 of 454
Maybe that's all the Directors did? On-Line is the new-way . . . but companies still have to get the stuff to the customer . . .
I note that these are 50p shares....going for 20p =less than face-value. Maybe that was the reason Dirs bought..... believing Market must turn-up soon. Thanks cynic; I shall for now.
I note that these are 50p shares....going for 20p =less than face-value. Maybe that was the reason Dirs bought..... believing Market must turn-up soon. Thanks cynic; I shall for now.
cynic
- 03 May 2018 13:39
- 448 of 454
AVOID!!
cynic
- 03 May 2018 13:39
- 449 of 454
AVOID!!
cynic
- 03 May 2018 13:39
- 450 of 454
AVOID!!
robinhood - 09 May 2018 15:30 - 451 of 454
Agree with cynic -even babies are now using the internet to buy their nappies
hangon - 05 Jun 2018 16:41 - 452 of 454
That maybe, but the "brand" has some value and people still pass the door - whether they come to Buy is another thing. Directors buying is quite uplifting . . . serious money if it is lost, ( unless there is compensation in their contract ), surely no troubled Co. could do that legally?.
At 30p today it might be worthwhile ( er, since I didn't sell-off my miserable holding ), -I can Av Dn very easily so if/when this reaches 50p I could be in small Profit..... some hope!
There have been significant changes ann. so maybe this will show-through.... but for now the Market is holding-back, I guess. + DYOR.
EDIT (13July2018)- Seems I missed the General Meeting yesterday when nothing was said (Eh?)... but the AGM is still on for the 19th (DYOR).... Does anyone think the 1:1 Fundraising is worthwhile.... there is a small discount to sp, but that will slip - does the Co. have any plans to get itself out of this mess?
EDIT(2Aug2018)-sp=25.5 is hardly a huge uplift from the 19p Offer ( which I missed ), - so I hope there is soon news as to what this money will be used-for. If it's "more-of-the-same" then it's wasted IMHO. . . MTC needs to push their Brand, so Parents and G-Parents keep on spending.
At 30p today it might be worthwhile ( er, since I didn't sell-off my miserable holding ), -I can Av Dn very easily so if/when this reaches 50p I could be in small Profit..... some hope!
There have been significant changes ann. so maybe this will show-through.... but for now the Market is holding-back, I guess. + DYOR.
EDIT (13July2018)- Seems I missed the General Meeting yesterday when nothing was said (Eh?)... but the AGM is still on for the 19th (DYOR).... Does anyone think the 1:1 Fundraising is worthwhile.... there is a small discount to sp, but that will slip - does the Co. have any plans to get itself out of this mess?
EDIT(2Aug2018)-sp=25.5 is hardly a huge uplift from the 19p Offer ( which I missed ), - so I hope there is soon news as to what this money will be used-for. If it's "more-of-the-same" then it's wasted IMHO. . . MTC needs to push their Brand, so Parents and G-Parents keep on spending.
Stan
- 01 Nov 2018 10:07
- 453 of 454
Mothercare is to cut 200 jobs at its head office in Watford in a bid to meet a £19m cost-saving target as it battles a crisis on the UK high street. The struggling retailer said the company restructure, initially announced in May, would result in 150 net job losses and 50 new roles, and that staff would be redeployed where possible. It said it would be "supporting colleagues throughout the consultation process". - Telegraph
Stan
- 23 Jan 2019 21:27
- 454 of 454
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