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Nasty...at least they can start closing some of those shops.
Profit warning is never good news..
Big seller started, maybe a director?
Trouble is, lower this goes, the harder it will be to ask for more cash next year off share holders..
Trouble is, lower this goes, the harder it will be to ask for more cash next year off share holders..
Obviously works..
Uses the same style on nearly every board he posts on....
No, hooks were plus 50p postage..
Ive got my buy set at 35p, prepared to take a punt at that level.. GLA
Not a phenomenon confined to our angling chums. Lots of 'bargains' out there 9assuming armageddon isnt around the corner), but, for the first time in a generation fund managers and businesses are having to deal with embedded inflation combined with higher taxes and costs, that is seriously crimping consumer spending habits. many of these folk have never had to manage money in a rising rate environment so anything with a consumer tag is suspect....imho, this is a fundamentally sound, well managed business, with significant cash on the balance sheet and expansion plans for Europe. If they can get their act together in Europe and hold the line in UK, this will eventually rerate. if it doesnt expect private equity to bid for it. Management could help themselves by backing the company with their own cash...and a modest share buy back would be a positive sign
TDinvestor, I think we should ignore Peaky and his ilk. He clearly has an agenda to bash ANG. He repeatedly posts negative comments but refuses to answer simples questions. I've asked him twice whether his online price for hooks included P&P and he's failed to respond. He's not interested in any discussion. Ignore.
Yeah, there's obviously risk in the future for sure - true of most retail in the UK tbf. But that's different to what you guys have been suggesting above, which is that there is evidence of problems in shops already - that isn't born out by what the company said a few weeks ago and isn't my own personal experience either. The real crunch for retail may well come over the winter with higher fuel bills and xmas trading potentially disrupted, but with Ang the key selling period is now and the weather is good (which is v important), fuel bills are (relatively) manageable and so I don't see cause for immediate concern ahead of H1 results in August. The SP drop obviously suggests some people are worried, which is fair enough given what's going on with the macro, but the volume is tiny (down 55% 10d / 3m) so I'm not reading too much into it. As the company said a few weeks ago, it's not immune from the cost of living crisis, but people are reluctant to give up their main hobby/pastime and it is a very affordable sport, compared to lots of others. If you sell now at these prices you're guaranteed to be taking a loss, or you can wait it out and hope that only 1 year of numbers is impacted - in the medium/long run, the challenges ahead may take out the weakest independent traders and give ANG more of an advantage with its scale and cash resources. We'll see.
SP downtrend is focused on the future, not just the start of the year.. Overs obviously agree there's serious risk here, or SP wouldn't drop due to selling..
People will clearly cut back in hard ecenomic times, and feeding the family is more important than new fishing equipment??
There's a bit of Private Frazer about your posts, don't you think andybm3/Peaky? I mean you guys always think everything is doomed, doomed. In contrast, the outlook statement from the full year results as published just less than 6 weeks ago was "cautiously optimistic" for the future - I'm not sure you guys have seen it? For example, it said, "Our first quarter of the new financial year has seen growth trends which are broadly in line with our expectations having annualised significant prior year post lockdown peaks." No sign there of any difficulties. Next update due for H1 around 18 August or so I understand.
Got to agree with Peaky , I"m in the fishing trade myself and can tell you first hand that trade is down and it's countrywide . I think mid 30's if trade doesn't improve is going to be best case , I think it could be lower and if it goes sub 30 then it's crunch time .
If you are worried you could contact the management team and ask them whether they intend to suddenly reverse what they said recently and start closing stores rather than opening new ones? Let us know what they say, if you do. I haven't seen any stock level issues at my local store by the way, and busy as ever.
Yes, they seem to be cutting back on stocks, which will mean a reduction in footfall and sales. I'm wondering if they may close a few stores?
On paper a strong company, but let's see how it copes with downturn. I still think this will be mid 30s by October.
Keeping an eye on this, but just been to hessle to buy some gear.1 boat rod and no multipliers of any descriptions, they need to up there game, even my lad said that place should be rammed with gear , local tackle shop we use is an aladin cave stop trying to be a shop and more an emporium, probably spelt wrong hey ho off fishing
In total agreement. What is rather irritating is that one would expect that at these depressed levels management and NEDs would be hoovering up stock, but they are nowhere to be seen. At this rate, having done all the hard years and yards establishing a fabulous springboard for the business, a private equity lot will come along and bid for teh whole kit and caboodle....must be very tempting
Who knows what SP will do next. We've had results recently and there was nothing worrying in there that I saw. I certainly wouldn't be confident enough of big further SP falls to sell up at these depressed prices with a view to buying back lower down. The lack of liquidity makes this a v difficult stock to trade, don't you think?
Next resistance 32p, then 28p.
Good time to sell and buy back on the lows... GLA
Peaky, If I recollect from the last results presentation ANG only has one UK warehouse and that's somewhere in Norfolk if my memory serves (hardly a central UK location) and I wouldn't therefore be wholly surprised if ANG is fulfilling many of its online orders from its retail shop network. ANG sees its retail shop network playing an important, and profitable, role in its UK business expansion. Having a decentralised online fulfillment system may not be considered the most efficient way of running an online business but it does allow the shops to serve a dual purpose, increase staff utilisation and, importantly, help increase the brand awareness amongst dedicated anglers.
PS. You never said whether the fish hooks inlcuded P&P. It would be unusual for a small (sub £10), one-off purchase to be so much cheaper online once you have factored in P&P.
Think it's simply all the expensive shops that worry me, but let's see what happens now we have tested under 40p..GLA
Maybe you're right to be negative, but the weather is good and there's lots of people out fishing. We know the recent cash position and have clear and recent guidance for this year and next. I wouldn't worry too much.
Hobbies will take 2nd place to paying bills, will be important to see how much cash they have to burn...
The market is struggling to beat 2019.
The Covid boom in fishing has unfortunately dropped off and this has been exacerbated by the situation in China which has resulted in difficulties in shipments and NPD.
The f t market this year is not looking good.