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�10k buy yes it's both,,,,LOL,,,, Fortune favours the brave,,,,, It's when there cash pile gets eaten up by reorganisation cost and strategies, that we will see the real brave investors move in LOL,,,,, I definitely won't be one of them. I really do hope crawshaws can turn things around, and save jobs and investors assets . If they do good fortune to them brave investors. AIMHO,,,,,,GLA,,,,,
Someone has put nearly �10 grand down in here. Assuming it is a buy as shown, that's either a hell of a gamble, or an act of supreme confidence.
I agree with a lot of what you've highlighted Pbody, it wouldn't be in the interest of crawshaws & BOD to publicise Specific badly trading stores, and as you said highlighting specific stores would only result in employees jumping ship and causing a distressed working environment. But surly the BOD have a responsibility to at least outline the "number" of stores that are trading profitably. And not naming any stores that are loss making, as shareholders deserve to have a accurate a picture as possible ,considering they own the company. Unless the number of loss making stores is at such a high level that by revealing this would indeed be seriously detrimental to crawshaws reputation and employee job security. I'm sure the 2sisters group would like to secure the 20% of meat deliveries to crawshaws and much more. �4+million per year and possibly seriously increasing that amount could make a bid more than likely, And the head office savings of 6/7� hundred thousand pounds , and roll out of the meat factory format could make a bid very compelling to the2 sisters group. There's plenty of value there, and 2sisters could easily unlock that with a opportunistic much needed bid. AIMHO,,,,,GLA,,,,,,,a non shareholder here......
The individual profits per item as per shop or shelf space are an internal affair and I am sure other firms would like to know this (as would crawfords like to know theirs). From a management perspective it would also be disruptive to staff and could result in people either thinking their jobs were insecure or leaving prematurely increasing training costs or causing cherry picking of positions internally or with transfers. I think the fact that the sales are the same if not better than predicted means that repeat customers are there (i.e the quality is good) and not just a fad. Sometimes the best thing that can be taken from the figures is the time taken for the shop to pay for itself and turnover. There are both types of shops opening which means both formats are working in the mind of the BoD and their figures to hand, now it's a case of picking the bones of the operation with fresh insight.
Crawshaws hasn't been specific about which shops or how many shops are losing money. Any shop format that trades selling anything at near its lowest price will always be cutting things fine regarding making a reasonable profit, and if you get your offerings slightly wrong,then heavy losses will easily follow.,,,,,,,, every time they changed there offering they should have trialled it out in just a few strategic shops,,,,,to see what impact it had, some of the best people to gauge what customers will buy is the actual butchers in crawshaws own shops. Who can see very quickly whats selling and making a profit. And report back to head office at the end of the day or week. That might have been happening anyway, And consumer spending is just changing ,and crawshaws will keep on struggling to squeeze a profit from every store. If shareholders knew how many stores are profitable and the amount of losses from poorly performing stores ,then they could understand the size of the problems and could see clearly a pathway back to profitability. But crawshaws BOD are keeping quite on this front, as there could be a substantial amount of stores consistently losing small amounts of money. And management just can't get them into profit. If the 2sisters group took crawshaws over they could save at least a �6/7 + hundred thousand pounds in head office cost alone, and the cost of being on AIM . There's still value left in crawshaws but it will probably come down to , in who's interest it will benefit ,and 2sisters fits that Bill perfectly. They say the time to invest is when investors are nervous and selling there shares,,,,,but in fairness to crawshaws they would probably have another year or so to turn things around before most of their high street shops are forced to close ,costing many millions of pounds. I really don't know what's going to happen here, but it's high risk and high reward if crawshaws succeeds.during this critical time period.,,,,,I'm a non shareholder at this present time. AIMHO,,,,,,,,GLA ,,,,,,,,,,
I think Carpetright are in a Mothercare situation where they are downsizing. IIRC. Not collapsing? Not that up on them. Not all the supply is from 2 sisters IIRC, and their suppliers are costing more looking at the books (some pound related issues) which SHOULD come back as the pound is closer to its original value. Associated Diaries was a group of farmers that set up ASDA, its an example you might want to look at with takeovers? The butcher Supermarket (Factory Shops) looks like giving much, MUCH more turnover per shop and certainly seems to be another string to the bow......Not sure its the saviour, but its a format that has better than expected turnover so it should see the firm effectively expand at a greater rate than expected. Like everything there are local butchers and other shops that sell meats as competition not hot food, so better than expected turnover from the Factory Shops might mean the principle is picking up customers not found at the other branches......which is another market niche. Lets hope their niche noticing continues and we can get back to some sense from business investors that see a way to grow a profit and a business. Sometimes its easy to forget IF you wouldn't invest (assuming you have the money)now when would you? At the minute there are going to be the at and around 5p stalls. What it really needs is the directors to see the SP as a bargain and perhaps that is where the 2 leaving with more money than shares is a sad indication of their own faith and perhaps why your a non shareholder and others feel similar at this point?
After poundworld and maplin and carpetright and toysRus closing all or 100s of there high street stores It's no wonder crawshaws is under the spotlight, It's mostly the high rent and rates pushing these shops over the edge, Someone is going to have to be ruthless in licking crawshaws into shape, but probably costing millions in turnaround cost. If it wasn't for the meat factory format crawshaws would be in intensive care. But who's to stop the 2 sisters group starting up its own meat factory shops and buying crawshaws meat factory shops from them or out of administration . 2 sisters can afford to wait until crawshaws is in a worse shape ,and then making its move. I genuinely hope I'm wrong here,and a new BOD does a Houdini turnaround act. It's a pity because crawshaws is a really nice format in the butchery trade. I'll cross my fingers a new BOD have some new idea's up there sleeves. AIMHO,,,,,,GLA,,,,,,,,, A non shareholder here,,,,,,
Some large sells .who .?
There 10 1/2 M goodwill right off is one thing. However, there 150k per shop expenditure is the interesting thing. So this expansion is working out at more or less break even (small loss) without having to take out huge loans. 150k per shop seems a lot to me. I think someone else mentioned that. At 52 stores with another 5 to 10 planned per year that's a long term plan....I wonder if a few southern factory shops would work? I guess their supply chain delivery network would be stretched??? Nothing worse than having a shop with everything sold out!!
I still think with 10 more stores due to open and a desire to take crawshaw into a national retail operation along with the yearly results ...that 5p is still way under valued
SO the first 5 trades are sells.......the rest buys looking at the price........a lot more volume. Surprised a few on the board haven't bought in at this price....just to give confidence.......perhaps their waiting for the new men before the to share price a buy in gives.......GL TO BUYERS
Agreed, Results pretty much as expected, but big positive is 1/4 sales coming from Factory shops! SP will dump and hover around the 5p as speculators cut and run.....I would buy and hold for a few years if you can. Still looking to get 5 to 10 shops per year expansion so board aren't sweating.... The 2 top guys to arrival to factor in. IF those 2 get it back to profits, work as a team get DIVYS again they could probably write their own wage slip in their career!
I see them as positive...expansion plan still going ahead and the 2 non profitable shops shut down...just need the new leadership to be announced...growth still up on last year so definitely feel this is one that will grow rather than sink
No doubt this company will turnaround .Time yo buy some i guess.
The business continues to have sufficient headroom in its cash balances following the share placement in the year, with no debt and cash on hand of GBP4.7m at the balance sheet date. The primary purpose of the funding is to continue the successful factory shop rollout, but we will of course balance our investment in growth with maintaining a strong balance sheet.
A underlying operating loss of �2M can't be caused by 2 now closed high street shops, And a statutory loss of �13.5 m , it all in my mind is a culmination of a board of directors who don't have a clue how to stop losses quickly, and are not following or monitoring each shop closely enough for subtle changes profitability. Or consumer spending, and acting accordingly, get rid of most of the shop chain / sell them to the shop managers or other butchers who do know how to make a profit on the high street, and concentrate on quickly rolling out the factory meat outlets, after all these years of trading they must expect bad weather to impact sales, but not cause a yearly loss. God knows what the loss next year will be/ bad weather and paying 2 probably high severance packages, And a new management having to spend even more money reorganizing the whole high street shops format, The 2 sisters group must be looking at this situation and thinking just go in and cut out the dead wood, and Expand the meat factory format extremely quickly and get a 12 months payback from each individual investment, if a high. Street shop doesn't have a high enough profit to get it through a bad winter, then Stop tinkering with it and get rid of it,to its management if need be? I don't own any shares in crawshaws , and my sincerest sympathy goes out to them shareholders who have lost out here, but surly they deserve better than this, sometimes a shop format just can't pay , and sooner or later after millions have been thrown at the problem , with little or no result you just have to acknowledge that fact, and stop the yearly losses, I will watch with interest how all this plays out over a few years. Good luck anyone investing here. There's millions more to be lost before a turn around will be seen.but it should happen with a New no nonsense management.
Just think someone selling a few batches first thing caused the drop...will wait and see when the news drops whether they made the right call or not I suppose
Have found with AIM that you can see price changes for no good reason Even without CEO or CFO somebody has clearly leaked the results to cause sp to drop 15% today No matter, only way to recoup losses is to invest further averaging down and hope for recovery Its either recovery or bust for Crawshaw and I think recovery is still possible. They have cash to continue operations, are saving 30k a month by not paying CEO Find somebody who will run the company for stock options and we might get a BoD aligned with shareholders 2p or 10p by June ; 1p or 20p by December ... I stand to gain much more than I lose on this even money bet
Well should find out tomorrow if yearly results come out on time how things are progressing...happy to add when at the low end and just a case of waiting to see what happens...as pbody says the factory's and shops alone are worth far in excess of the current mcap...and when a company is still recruiting for all kinds of roles then to me it's a good sign to get them cheap whilst you can
New shop in WIGAN seems busy to me
I would, get in and hang on for a bit, if it doesn't move with the figures it will go up with the appointments probably. Like the earlier post I said, the ridiculous situation is the total value issued is less than is in the kitty! Each shop is running a 20k loss. (1.3M total) .Which is probably less than 1 employee. With a turnover of around 1M a shop.........ish So I wouldn't look at that as a big problem as poor weather could have that effect. The top tier staff bill probably equates to a hell of a lot more than that loss. That includes expansion costs! Each shop is going to be valued at better than 500k I would think(if not a lot more). SO I WOULD THINK OF IT AS A FLAP FROM INVESTORS WITH NO DIVY JUMPING SHIP AND NOT LOOKING BACK!!!! How do you stop the freefall SP? At a risk of repeating myself, dont think the value is anything realistic with the SP. And the true valeu being somewhere around the 30p mark at least. Probably why 2 sisters (SUPPLY CHAIN ETC)at 15p was seen as a better partners to stop freefall than just a re`issue (especially if they expand nationwide), and indeed the shares went to around 30p!! But investors do have more memory than sense and that perhaps is why it has carried on dropping?? god knows!! ITS AROUND THE SAME SLOPE!! I (and I suspect their board) would have expected that to bring the dropping to a halt. Perhaps the DIVYS were supposed to come back straight away!! and as they didn't more kept leaving! They could at this point keep buying to get past 75% total equity as a group and go private with the warrants in their back pocket to use as a trump card. As I said there are a lot of options at this price no one could or would tell if they consider it an option. There are a few on the board with around 20%- ish. 5Million for 50 stores......I don't know. I THINK ITS BETTER TO BE IN HERE THAN OUT. It all sounds very good value (because of lack of investor confidence) for something that should be on hell of a lot dearer !and isn't about to go bust! At the end of the day has not done something totally daft like opting for a big revolving credit facility that runs out AND THEN CANT GET RENEWED because the SP is so low! I think if you could take away investors memory and stigmatism from getting fingers burnt on the SP or perhaps the re`issue going to 2 sisters, the SP may be a lot different. I think they were lucky not to get drawn in to a large loan and quite frankly the board did do something's right but pitfalls you don't fall into aren't always seen, reflected or headline grabbing. As I say Investors can be as Fickle as a Cat, the SP and true worth have NO correlation, what is to come (with SP being so low) be difficult to see, and errors they haven't made be even harder to spot. I THINK WHATEVER ITS ON THE UP AND UP. GL ALL
Looks strong.
Higher prices be being paid in succession...think we are on for a flurry run again
Yep..looking primed to move...yearly results due Wednesday and hoping they are positive
Tempted to get in here ,looks ready to move.