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"With momentum heading in the right direction, and 60 new stores expected to open this year, the growth strategy remains enticing. Buy."
It seems consensus is very positive right now with further rise this morning, also bullish broker ratings.
Barclays - overweight, target 565p
Goldman Sachs - buy, target 650p
Love the CEO. Visited myself several shops in UK and France, live in another country but now discount retailing very well. When they became an essential store in C19 period all went up, mr market being crazy. Then we got the headwinds talks, most of them correct and finally got in as it was clear it would go up soon again. Thesis is simple, middleclass will be squuezed more and more in this decade and will find their way to the stores. Execution is best in class, growth of 30-40 stores is manageble. I am in it for the long run, a CEO visiting 25 shops in a week and the MD total 200 is all I need to know. I did not even check the numbers for more then 15 min, growth is there and I will let this thing compound.
Sp touching 5.00 again despite the general markets being down today.
Nice sp reaction to todays announcement, results in line with estimates, divi as expected. Positive sentiment for growth in the coming year. If sales and profit also rise as expected a good special divi should be forthcoming.
Maintaining a fairly substantial holding with a small percentage for trading.
Full year results next Wednesday, yeah going to be rubbish right. Very much doubt it, probably never busier. Typical manipulation to spook. Let’s see what final dividend going to be, 11.5p last year.
Inflation staying high worries for traders hitting shares yesterday
Haha of course, Doh!
Bank Holiday
Yes I bought in last year and showing a nice little profit even after todays drop. Just a little concerned someone knows something we don't.
Excuse my ignorance but whats a BH?
Glad I bailed out on 19th at 488 with small amount I had left as seemed to be drifting down.
Not sure why head gaffer legged it? BME been doing really well, people looking for better value etc. Check SP on Friday. It’s a BH next Monday then Tuesday day to sell half. Usual SP meddling, I think.
PPPA thanks
FY23 Preliminary results next Wednesday, 31st May.
Raid and load up antics, as they’re going to be really bad, right.
Probably high SP next Tuesday, then dump on Wednesday. Probably sell mine Tuesday as expect 530 - 550. Then big drop, load up for next dividend.
Could be totally wrong.
Anyone know why the drop today?
This is now looking a good entry point for me
I'm not overly worried. It's all part of a trend away from cheaper independent shops and market stalls to larger discounters. If poundland and Home Bargins are doing well them B&M will be too.
Wilkos seems to be out of favour at the moment and probably struggles as it's store estate is largely on the High Street with limited parking.
Competition from Poundland getting hot. In my city I have noticed Poundland opening more stores.
We are back. I think the sp will attack the £5 resistance again as soon as next week.
Any cash returned or dividends taxed at 15% which c*rap and share price down around 12% over last year.
Everlong50- Thanks for the info. Useful information.
Elsewhere RBC commented:
"In our view, it remains cash generative, and we expect it to continue to look to return surplus cashflow to shareholders. We see potential for B&M to achieve a gradual re-rating as it delivers consistently positive LFL sales growth (as higher rated Dollar General has done in the US) and as the growth of France and Heron Foods become better appreciated by the market."
https://www.proactiveinvestors.co.uk/companies/news/1008124/b-m-receives-upgrade-and-target-price-hike-from-broker-1008124.html
"B&M should offer amongst the highest, most durable growth in the sector, driven by positive like-for-like sales and space expansion.”
More competitions fighting for sales = less profit
In comparison, B&M's future growth plan is to increase their stores in the UK from 704 currently to 950.