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Seb was great, he lead the merger and lead a programme works to reinvigorate the Dixons estate, all stores are trading above expectation. In the last 12 months, the property leadership team have steered the business in turbo mode, opening a multitude of new stores in Uk and Ireland along with being substantially under budget, utilising methods similar to those of coles (Aus). This team was a finely oiled cog in a spring of a watch known as DC.
Estates and Maintenance do a splendid job, once Thurrock mega store opens you shell see - Fusion98
the deal done there to secure the site is nothing short of a miracle!
According the the values I believe in, Baldocks first mistake has been restructuring the board of directors, most are inept with no experience in electrical retailing, several experienced directors are leaving who SHOULD be on ExCo board, they will soon be snapped up by other businesses in FTSE 100.
Mark my words, with Baldock in charge (Who has no experience in managing a company with a real estate) within 12 months the company will fold.- well I hope anyway.
Good residence,
Rant over!
Have a fabulous Saturday guys
You must be joking!.... Seb was a disaster
With the lack of sales it hardly surprising that staff are being cut, and knowing that this company is bloated to start with, i for one welcome the news.
This is a tech company not an estate agents, how hard could it be to soft out maintenance and leases for buildings? All the other retailers manage without needing an entire team, never mind a directors wage. Good residence to over spending.
Fusion98
DC, has announced over 200 job cuts from head office. Baldock has wielded the Axe, in an effort to complete the Dixons and Carphone merger, many loyal people will leave, the thriving property team has been dismantled, the group property director along with the talented property development director have also existed the business - come on DC this is another Homebase / Bunnings! bring back Seb and Katie who can sort out Baldocks mess
Yes but the store closures and Tesco concessions will offset some of the lost sales, and by next year the new web sales strategy will be bearing fruit
Makes you wonder what would have happened without the uplift from world cup TV sales.
In the past this has provided a major boost for the group but this year it has mearly prevented a fall in L4L.
Next year they will be up against those figures without the world cup to help.
Mobiles continue to be a major issue people are not only upgrading less often when they do they are going for much less profitable sim only options.
I think they have a considerable challenge just to stand still and the shares which are certainly not expensive are fairly valued.
Bit of a disappointment. Revenues are flat, profits are expected to fall and Alex Baldock has come out with some upbeat CEO speak that translates as wait and see.
[url]https://uk.webfg.com/news/news-and-announcements/dixons-carphone-sales-remain-flat-in-first-quarter--3472452.html[/url]
I was hoping that this share had bottomed out and that it might be time to buy in but I think that I will wait a little longer.
DC. getting Brexit battered a bit more due to it's supply chain network and areas of operation. I suspect, as with other UK focused business this will continue until Brexit is sorted. It will then either crash or bounce depending on the result of that.
I would have thought 30% of revenues in the Nordics would have been quite a good hedge for the company and so it wouldn't take the same hit more home-focused business. Appears I was wrong on that though :(!
Can see this hovering 160 - 180 for a long time sadly.
DC is not in any danger of going bust, has a new CEO who is trying to clear the shop of bad news and has a large task on his hands to try to reverse the decline in sales. In addition the "no deal Brexit" is on the horizon taking out financials from London which is 25% of GDP (ouch) and the recession everyone keeps banging on about has just hit Australia, wont be long before it hits US and UK.
As a result of the above the share is getting battered as some large corporations convert to cash so they can get back in at the bottom.
Anyone else preparing themselves for the worst...or am I just being overly pessimistic on this share??
Would be surprised not to see a rally on the run up to ex-divi date but there a few trading sessions left before then so might not see it this week. I'll buy in here in the hope it does. Even if it didn't I would be more than happy to then load up at sub 150. GLA
"This is just dying on it's arse after a promising start to the year...high street decking footfall, competition, fraud....its a real hoot being a Dc investor...what next??...dividend suspension"
I suspect that Alex Baldcock, the newish CEO, will announce further tough cost cutting measures such making staff use both sides of the toilet paper. I was going to hang on in the hope of an ex dividend rally, but the way things are going I might jump ship early.
This is just dying on it's arse after a promising start to the year...high street decking footfall, competition, fraud....its a real hoot being a Dc investor...what next??...dividend suspension?
10 million.
Dump early
This is all good stuff, but cost cutting can only go so far.
For the year 18/19 Dixon's profits are estimated to fall by 25% and its revenue to profit ratio is going to be about 3%. Neither are likely to help the SP.
I would like to see some signs that Baldrick and Co intended to actually get out and sell mobiles and vacuum cleaners and knicker elastic and the like as opposed to wandering around turning off the lights to save 5p on the electricity bill.
Rumour is that the Currys shop in shop at Tesco concessions will be rolled out into 350 stores imminently Smaller stores will then close within 3 years so perhaps the little piggies who to the market got something right
https://www.ft.com/content/f88ab6c2-8525-11e8-a29d-73e3d454535d
Incentive scheme cost Dixons Carphone £6.6m
@Sebastian James
@Humphrey Singer
@Katie Bickerstaffe
@Andy Harrison
You should all be ashamed.
Not long now!!
23 Aug 2018
7.75p
At least this stock is providing a good yield...would like more capital growth though...but major headwinds.....why AO has generally doubled over the last 12 months is beyond me...
No DC is under valued Alex Baldock transformed Very and he’ll fix Currys - he’s also a consumer finance expert so we can expect Carphone to improve Mobiles don’t last forever and with 5G being rolled out soon plenty of reasons to upgrade Also consider AO - massive turnover but still losing money - £9 million last year So a £300 million profit would probably be a wet dream for AO holders
Who gives a crap. Profits are estimated to fall this year and probably won't improve much in the foreseeable future. The new CEO is good on cost cutting but does not appear to have any ideas on actually increasing sales. Overall, Dixons looks a bit buggered and a slap across the wrist from whomever gives a toss about data protection isn't going to make any difference.
Please see my previous post - then check @andycapjay on twitter - Data Breach !! Look into what I'm saying - ICO found them guilty in my case, but it''s ongoing (SAR) denied by Lawyers but - FT - LSE all aware of my case - as are BlackRock (where are they now) - just read this twitter feed !!
....coming home to roost. Several years ago I swore never to deal with DC again following their awful customer service. They offer nothing unique and have ceded ground to other, more customer-focussed, players.
..was the reason for a 4% rise in this share price following a large drop in profits? Alex Baldock, called Dixons Carphone "a business with so many strengths, and with so much more to go for". But what strengths does it have, sitting in a mature market with no apparent game plan? Is it the closure of 92 stores? Is there a buyer lurking in the wings? Or is 'mobile phone' a magic word making investors swoon with desire? As somebody said, "markets can stay irrational far longer than I can remain solvent."
I agree but they really need to be careful now its the second time they have been hit and last time they were fined for sloppy security.Future issues particularly with GDPR may not be as easy to brush off.