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Maybe that bid speculation that Baron mentioned also positively impacting
I mean If you think the world gets better in years ahead you would probably be weighing up or a bid for such an iconic brand
Was expecting to be 10% down today so very relieved at the hopefully continuing rally gla
Comments by @baroninvestment on Twitter/X:
“Doctor Martens not lower. Has to be that holders are taking small comfort(!) that there's no material downgrades again. Hard to see when the tailwinds return, positive is that 8x multiple for next year (FY ending 31/3/25) which would slice hard on recovery so maybe it's a sideways job for bit. Will keep it on the watchlist for now”
Nice yield at these levels
All bad news priced in… believe we reached the bottom and should now be looking at £1+ . There will certainly be headwinds, as with all stock, but they are confident enough to keep the Div and sure it’ll be a good stock to keep in the back pocket.
Well didn’t expect a positive sp movement after that rns but well happy it’s not dumped again and hopefully build from this low !!
Indeed, was looking for the 50p top up that some suggested but it seems the £1 party is as likely.
My take is that a lot (a huge amount!) of bad news has been priced in here. Sentiment is as -ve as you ever see. Yes there are challenges - US retail performance etc - and the business simply isn't going to generate the returns anticipated when it was floated, but the re-pricing of this may now be behind us.
For LTH's it's a tough story, a reminder of why buying PE exits is rarely a good idea! But the dust looks to be settling now and it's easier to see how SP progress can be made from this point.
Hope your right we haven’t plunged into the abyss yet so can be happy about that .
Nonsense! In the short term the SP will be driven by dividend expectations. If anything todays trading update is a positive as it suggests management's hand isn't being forced.
Initial sp reaction is positive. If management can deliver a good call / narrative today, the doomsters here and elsewhere may be disappointed....
New management required I think
Brand is great but they have no idea on execution
I think the full YEnd results are going to cast up a serious inventory issue with its subsequent implications.
Over next few months this will go sub 50p at which point it will be a Buy.
60 s today?
Unfortunately so was hoping for any kind of step forward but can’t see these getting back to 234 for a few years. One to forget about now and hope for a revival.
Far from the disaster many were calling!
Revenue slightly stronger than consensus forecasts and forward guidance held unchanged. Boring, in a good way…
All to play for here, for both management and shareholders.
And now currency headwinds
🤞🤞🤞
What are the chances of some desperately needed good news tomorrow to turn the sp around after a catastrophic year here ????
Pedrobull - Dawn will come when there's a realisation that the ex-Cath Kidston (that went well?) gang is not the right calibre to run this company successfully. The talent is at businesses like Next, Adidas, Wolverine, Authentic Brands, JD Sports.
All time low now so share buy backs not working.
It is always darkest before the dawn.
GLA
Wigan warriors; totally agree with your thoughts. You mention Birkenstock, who ultimately are owned by LVMH - as you say luxury brands, nurture the provenance of product for long term gain, not a quick profit. I'd be happy with that long term vision.
Idakeinis; thanks for pointing me in the right direction RNS wise. Doesn't change the point, if it was valuable then, we'll do it again, now it's even more valuable
Well, I accept that you can outsource to China et al, and get decent quality. But why take the risk (part from PE priming the ship for an IPO), when you have a longstanding quality brand. How many quality clothing brands risk their reputation and outsource. You won't get high end Italian bags, watches, general fashion outsourced, they are either run by many generations of family businesses, or have been acquired by the big fashion conglomerates.
PE squeezed every last drop of short term profit out of Doc's, then sold. Doc's would be better totally re shored to UK for manufacturing, invest in good e-commerce systems, modern state of the art factory facilities and pay decent salaries. That way they could manage their distribution with simpler supply chains, and more predictably. Peak globalisation is unwinding.
Take Birkenstock as a similar model, all manufactured in Germany, good worker conditions, top brand, strong margins and management that are taking a long term view of a profitable business.
Of course, this would take some undoing of contracts etc., but a long term buyer (not PE) with this vision will be richly rewarded in 5yrs, or so, with a valuable brand and ongoing revenues and margins to match.
Share buyback programme was to purchase £50m worth of shares. That figure must have been reached. See RNS 15th December 2023.
Not really a fan of buybacks generally, and whilst happy to wait patiently for the value here to be realised, I do note they have stopped, which concerns me. Why are buybacks viable at 90 or 93p because you think they are accretive/the business is undervalued, but then not at 80p?
Says to me, they are either being used to massage perception.....or they are struggling for cash. If it's neither of these, it doesn't instill confidence in me with regards to the ability of management.