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SAIN@VISION HOPE ALL IS GOOD i bought capita a few days ago could be a nice run up watch it atb
Alex
" Otherwise, I admire the positivity of most posters."
Clearly nothing wrong with that . However for a couple of posters this has mainly been talking out of their own pockets ,ramping up any conceivable good news and burying bad news which is likely to impact INTU . They have arrived bottom feeding for a short term gain Nothing wrong with that of course but lets be clear about their motives .
DEBENHAMS
Debenhams are a major tenant and anchor many of INTU's centres .INTU have already suffered a cut in rents and are barely able to withstand another one .In Watford they had only completed a 86k store in in 2018 at a top of the shop rental
You then come up with Double trotting out this ramping rubbish about the Debenhams news as if Ashley is going to seamlessly take over the leases without some serious incentives and hard bargaining .As if somehow he has been immune to the current crisis
"Looks like he or another can now pick it up for peanuts. Then we can get someone with some retail clout and that will pay the rents."
He then goes onto say
"My monies on Mike Ashley now picking it up for about £50 to £75 million to make him King of the High Street. The continental shops including Denmark were profit making last I looked. "
We certainly know where Doubles'money is on
Think Mike Ashley might have other ideas that £50-75m is peanuts with all the liabilities and just in case it has escaped his attention Denmark is on lockdown too.
No doubt that they will be occupied again but not without some serious damage to INTU
ARCADIA
It seems very unlikely that they are going to emerge from this intact . Again like Debenhams INTU have some serious exposure
Yesterday Arcadia offered to accept orders from suppliers that were in transit on 17 March at a 30% discount, to avoid cancelling them entirely.
I guess Double would see that as good news where it will severely damage their credit lines Arcadia are quite successful on
their wholesale brands on offer on Asos but less so from their physical stores
Double then goes on to flag up the fact that the Govt is granting loans which is of course positive news and a lifesaver for many .However there will be a whole layer of retailers will be making a difficult decision that they are unlikely to be able to pay them back if accessed
Pre -Easter and Easter is a very busy time especially for fashion retailers buying"going away"clothes as they head for the sun
“It equates to around one-third of key footfall for the year and is second [only] to Black Friday. It is such a shame that Easter has fallen within the lockdown, as it will be disastrous for fashion sales. And if Easter sales and footfall are down, then full-year results are impacted heavily too. The result doesn’t just affect the month – it will spin-off the entire year.”