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I called this price guys! And people told me I was nuts after the last profit warning.
Disagree. A 12 month supply of stock gives them plenty of time to test samples from alternative cheaper suppliers.
Traded this share successfully until my last buy at 131p which is now a medium/long term hold. Not concerned as after today's fall, which I think is overdone, I see a much higher expectation of corporate activity - stakebuilding or a bid. Shorters will have to buy back when they feel they have made enough from a fall and/or when they think the bottom is reached. A sudden bounce can catch them out and exacerbate any rise in SP. Notwithstanding short term volatility I still see this share recovering longer term. An earlier post mentioned Mike Ashley might see this as an opportunity. With Doc Marten's global appeal I can see the possible attraction. I doubled my holding this morning by buying more.
With almost 12 months invetory, they won't be re-ordering from their suppliers for quite a while. This will decimate their supplier base who will re-focus on other customers, leaving DM with a real problem. To re-engage with their suppliers they will have to incentivise them with higher cost prices.
Remember their Cost of Goods inflation is already 6% and eating into DM margins, so that will only increase, and I am guessing significantly. They may well try to firesale to reduce inventory but that also impacts margins and damages the brand.
Management have their head in the sand believing too much in "iconic brand" and not enough in business fundamentals.
So, all in all, not a good story from DM and a takeover target at 70p.
Just bought a few at 86p for a 2-3 year hold. Some Chinese investors will snap this up for 120p....Gla
Or for good RNS either at the moment
Yes, it’s very oversold today. There is no mercy for any “below expectations” RNS’s these days on the UK markets
Possibly.
Trading will stabilise but I see issues with inventory (nearly a year's worth now on hand) and whether the growth cost "investment" proves to be overdone for the reality of the business.
Having said that, finally bought in this morning on a 3 year view that things should be looking healthier by then and the shares up from where they are now. Unlikely to be a smooth ride though.
Bargain at these levels surely having exited at 146 and 156 9 months ago it seems worth a punt here for a 1st tranche reentry around 87p. GL.
70p before the days out?
Getting into Mike Ashley territory at the sp - should rebound imv.
CRASH & BURN
Disappointing results. It's obvious why the shorts have increased recently. Nevertheless, likely to present an opportunity to pick up some more at bargain basement prices.
For me, as long as punters are not looking for a quick buck, this company still presents an excellent long-term investment.
Well all BB’s seem to more or less be on the same page here - Lot of consolidation in the fashion industry past year or two and recently, looks oversold unless this Thursdays sales are dire, the North America situation resolved should help drive sales stateside. Lots of share buy backs would indicate the BOD see the SP as very cheap. [Im not sure the BOD are all that smart honestly, if correct it makes a T/O more tempting as a buyer can likely release the brand value better, if I’m wrong we should see that in this weeks results] I just brought £20k’s worth to bring my average price to 129p now. Let’s see what Thursdays child brings - GLA
I bought in last week on the basis of it being a potential takeover target. Fingers crossed.
Hopefully by now distribution issues resolved;
"Black Friday e-commerce spending popped 7.5% from a year earlier, reaching a record $9.8 billion in the U.S., according to an Adobe Analytics report"
"A Mastercard analysis of this year’s Black Friday sales found that in-store sales rose just over 1% versus online sales, which grew by over 8% compared to last year."
https://www.cnbc.com/2023/11/25/black-friday-shoppers-spent-a-record-9point8-billion-in-us-online-sales-up-7point5percent-from-last-year.html
Yes. It’s called averaging down.
I’m far more interested in the business itself than the share price. If you can’t handle drawdowns in high quality businesses, then long term investing isn’t for you.
"Alternatively, buy a whole lot more as it’s trading at a discount."..............Down another 4% this morning, You'll be filling your boots then are you?
Puzzled where all the shares are coming from, you would think by now a TR1 or similar notification.
On top of that Templeton bought around 800k at the end of Sept
Franklin Small Cap Value Vip Fund Class 1 reports 28.19% increase in ownership of DOCS / Dr. Martens Plc
https://fintel.io/so/gb/docs/franklin-templeton-variable-insurance-products-trust-franklin-small-cap-value-vip-fund-class-1
SP under a lot of negative pressure lately. Interims next week - will probably need to be good to turn the tide.
Some largish trades just after 3pm, price improved following these prints.
Might be last of overhang..
Marshall Wace LLP have increased their short position in November three times : 6th Nov. breaching the 0.5% disclosure threshold; 13th Nov up to 0.64% short and 15th Nov up to 0.7% short position of issued capital.
Alternatively, buy a whole lot more as it’s trading at a discount.
The market isn’t efficient.
i'd stay clear if i were you, piece of **** share has done nothing but fall since the day i bought them.