Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Let's be clear the management are a disaster taking the ..
Still on big fat bonuses
Still paying dividends
They need to earn there wages and this is what they came up with. Hastily done get rid of bad news now. Not a leader in sight
Staggering, they could have fazed in closing all the stores over the last 2 years giving time for natural wastage and chance to redeploy staff elsewhere instead of doing it like this much harder on staff and much more costly for the company.
they fire a load of people at the start of the most catastrophic time of our lives and the SP goes up. What a market, what a sick farce!
Every carphone has over 540 shops
Out with the traditional retail guy and in with the digital retail replacement. What alarms me most is the lack of top level Mobile experience in the management
Well the company thrown all its eggs in one basket.. Alex looks like he got rid of Ritchie if this move goes pear shaped it's the end of the whole lot. Cost cutting like never before even before coronavirus. Just heard a pilot blame bad management for flybe collapse. How many companies does it happen to and it's the workforce that loses out. Big year coming up
What effect do we think an announcement of 250 standalone CPW stores to close over next 12 months could have on SP? My gut makes me think a positive spike on announcement.
Washing machine row in Currys PC World leads to police callout, its on the BBC website. Just refund the man for goodness sake
Good points Dark.
I have worked in the Electrical retail market for several decades and can not remember a time when we have gone so long without major new product innovations to tempt consumers.Things which have provided huge growth in the past like Computers,laptops.Tablets,Widescreen,Flat screen,HD,Hi-fi Gaming and the list goes on has driven the market for as long as I can remember but now there are hardly any "must have new products" coming through I mean mentioning hair dryers as an exciting growth area says it all really, and its all happening at the worst possible time when price pressures from the net and increased costs are already making things incredibly difficult.
When you consider all this they are not doing bad really.
It really is a tough market to be in.
I agree 100%
To be fair I think thats what they are trying to do, the merger is no more its finished cpw, whether it would have been with better management is a debate but there is no going back. Its now seen as a section of Dixons like Tvs, Gaming. The problem for dixons is when and if consumers say I dont need a new TV etc. Debt is at an all time level for consumers if a recession hits big questions will be asked. I looked at some old photos from the late 80s at the weekend. One of the things I noticed was the TV size, I said to the wife why the hell do we need tvs the size we have nowadays.
Problem is still the mobile side imo.
As time goes on more and more people stop buying mobiles on the old (hugely profitable) 2 year contract.This was what the original CPW business model was built on.
Amazed that people still pay £50 a month for a mobile.
£10 a month sim only with 10 gig data.
Buy the phone anywhere or keep your old one.
If CPW did not exist would you create it? Not sure you would.
In time would expect them to integrate it fully into their stores.
drop back
Not enough detail maybe wrong but all spin
Great results in a weak market. We are building a strong omni channel business which will bode well in medium to long run!!
I agree that most CPW have to go but lets say 500 in 2 years is a hell of a lot of closures , about 20 a month!Would be surprised if they do it that quick.
I have to say I agree with Goldman they go on about not closing stores but didnt they have about 890 2/3 years ago. They do it on the quiet. They dont want the bad publicity, my local town lost a store not long ago they called it normal BAU, 890 to 600 etc is a big drop. They always say there wont be redundancy, the staff get offered other jobs but they took redundancy from my local store. I agree with his words at xmas about closures but what CEO would say it before key trading. I did read between the lines when he said mobile will see different proposition this year that meant we no longer need to keep stores open to hit volume numbers if not profitable they will go. Hence the other day the store in Bristol closing all staff offered new jobs poppy****. So they close a dixons and a carphone in Bristol two days ago where has everyone gone? They know most staff will take redundancy, especially and worryingly long service staff. This company will all be done online dont forget his background and through big box stores plus main stores dotted about in key places.
I think its very unlikely they will close the large majority of CPW standalone stores in the next 2 years bearing in mind they said in December there are no immediate plans to close any of the 600 remaining standalones.
Not least because of lease considerations.
Goldman Sachs likes Dixons Carphone,
We upgrade Dixons Carphone (DC) to Buy from Neutral and raise our DCF derived price target to 170p from 130p: (1) we expect 2H20 (April-2020 year end) to see an inflection in DC’s UK electrical segment profitability, and expect the segment to deliver consistent mid-single-digit earnings growth in FY21/22, driven by internal initiatives; (2) FY21E should see significant transformation of DC’s UK mobile segment, enabling it to move from a loss of £90 mn in FY20E to a £5 mn profit by FY23E. We assume DC will close the large majority of its standalone Carphone stores in the UK, and benefit from c.£100 mn of cost savings over the next two years; and (3) reduction in trade receivables (up to £500 mn) should fund increased capital expenditure and help reduce financial leverage (from 0.6x net debt/EBITDA in FY20E to net cash of c.£80mn in FY23E). We expect DC to deliver an EPS CAGR (FY20-22E) of 22% as a result of the above.
We currently forecast only +1% LFL growth for DC in FY21E in its UK electrical segment, and a steep decline in the mobile segment. However, we believe tailwinds from events such as Euro 2020 and the Olympics, increasing adoption of 5G phones, and improving consumer confidence over big-ticket purchases pose upside risks. DC will report its 3Q FY20 trading on January 21: we expect UK electrical LFL of -1% (on a comp of +2%). However, our more positive view and rating upgrade are a function of improved prospects for medium-term earnings/cash growth.
Companies fall and grow on customer service, poor customer service usually shows poor management from above which no one wins from, Big update in Jan, all we have heard so far is yes we are losing money but it was expected, debt is bigger than ever yet they are buying support with keeping the divi, need to see how they have turned the corner not just talked about it. I can see lots of stores closing in the next 6 months GLA
Terrace, the people who are working there has nothing to do with the share price Mate. You can be the best Employee for Debenhams for Years and the shop collapse. Unfortunately, your point it's not valid Mate. Financial situation has nothing to do with poor or customer service. Last week We have had an update from Broker (increase the share price target)
Atrocious Currys customer service with failed delivery dates.half an hour queue on phone,very late refunds,avoid.
Wow 155, hopefully can finish the day above 147
Good points.Makes sense.
Agree too many stores, but i think since the last round of closures they have looked harder at store estate. I believe they arent keen on store closers until the old legacy contracts with high volume targets with the mobile providers expire (which we were told 6m ago have up to 18m left) which is why it is 1 more year of pain for mobile! I think then we will see the standalone store estate halve pretty quickly after that. Maybe even some scope for a small 3in1 format stores in some of the larger standalones.