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Looking really positive. Things are looking up
Pent-up demand has prompted queues at some shops as rules are relaxed in England after a three month lockdown.
Long queues were reported outside Primark shops in London and Birmingham ahead of their 8am opening time.
https://www.bbc.co.uk/news/business-53044826
I've bought again on the drop, good opportunity IMHO. Would expect queues outside the shops on Monday which will likely make the news.
shops open saturday in most places with a sale
and look at the SP, would have thought it much higher as we approach Monday, good buy in point I would have thought.
https://www.bbc.co.uk/news/uk-52984687
All non-essential shops will be allowed to reopen in England on Monday, the business secretary has confirmed. Alok Sharma said "we continue to meet" the government's five tests for lifting coronavirus lockdown restrictions.
He said retailers can open as long as they follow safety guidelines, or they could face enforcement notices. But asked about the possibility of reducing the 2m social distancing rule, Mr Sharma said "we keep these matters under review" but did not give a date.
Personally I think in the near term it's all dependant on Covid cases... we'll need to see new Covid cases in the low hundreds to get to 6000p.
Once it's eradicated it's all economy, if it recovers fast could see > 7000p.... if it starts to look really bad and prolonged probably say hello to 3500p again.
But as usual, caveat - WTFDIK.
some of the bigger next stores opened up a few days ago
for some reason they have not had any media coverage
I'm with you on the bargain price. There are a lot of shares that were emotionally marked down from really stable positions at the end of feb/early March. This is a great one IMO, stable, good online offering, and on the rise to £70 before CoVid. Bought at £49. Holding. Others that were available, JD Sports, ITV and the winner for me ASOS which was available at £11, now at £32.
Hi, exactly don’t think we’ll see £70 yet but low £60 should be possible all being well.
It's never a well populated forum here really. SP is looking very good, just shows how badly it was oversold during the lockdown
A very quiet board here! Has nobody noticed the rise over the last week? This was trading at over £70 pre COVID-19 and with the stores reopening shortly it should continue rise nicely.
https://www.thesun.co.uk/money/11730995/next-launches-50-off-sale-plans-reopen-25-stores-june-15/
NEXT has launched a huge sale to get rid of some excess stock before stores begin to reopen in just over two weeks' time. The retailer has slashed the prices of hundreds of items across its adult fashion lines - with most items 50 per cent off or more.
The sale comes as the store confirmed it will be reopening 25 shops from June 15, in line with the changed government guidance. As shops try to clear excess stock, they are slashing prices - so if you were looking to pick up some new clothes, you could end up grabbing a bargain. While the sale is currently just online, it's expected big sales will be seen in stores when they open again too.
https://www.gazettelive.co.uk/news/teesside-news/could-next-next-retailers-plan-18288752
Retailer 'working on opening Home stores' and wants 'larger, out of town stores' such as Teesside Park to open first. Next has outlined its plan for reopening, after the government relaxed the rules on trading for homewares stores.
Two major chains - Dunelm and Matalan - have both opened branches on Teesside, after homewares were included on the "essentials" list.
NXT getting ready to reopen stores soon, from the BBC:
Big sales expected when clothes stores reopen next month
'Fashion retailers have been badly hit by the coronavirus crisis. Even those with robust online offerings have reported huge drops in sales.
Next, for instance, saw online sales decline by 32% in the three months to the end of April. Like others, it is keen to re-open stores, as soon as it is deemed safe to do so.
Next said: "We have plans in place for the re-purposing of our stores ready to reopen in a socially-distanced world."
Next said it will "prioritise the opening of our larger out-of-town stores first".
Their bigger size makes them easier to adapt and they have large car parks and outside spaces to manage queues, it said.
https://www.google.com/amp/s/www.bbc.co.uk/news/amp/business-52714699
NXT getting ready to reopen stores soon, from the BBC:
Big sales expected when clothes stores reopen next month
'Fashion retailers have been badly hit by the coronavirus crisis. Even those with robust online offerings have reported huge drops in sales.
Next, for instance, saw online sales decline by 32% in the three months to the end of April. Like others, it is keen to re-open stores, as soon as it is deemed safe to do so.
Next said: "We have plans in place for the re-purposing of our stores ready to reopen in a socially-distanced world."
Next said it will "prioritise the opening of our larger out-of-town stores first".
Their bigger size makes them easier to adapt and they have large car parks and outside spaces to manage queues, it said.
https://www.google.com/amp/s/www.bbc.co.uk/news/amp/business-52714699
From Sunday's Telegraph
Over the past year Wolfson has quietly built a platform that will effectively allow Next to run other brand's website and backend operations for a fee. Also, do all their warehousing, distribution etc. Some analysts have said move will make Next more like Shopify.
https://www.pressreader.com/uk/the-sunday-telegraph-money-business/20200510/281771336366893
Only a retailer very confident about their future would be opening up new concessions at this time!
https://www.bbc.co.uk/news/business-52571271
Short positions have also been reduced.
I personally think so much bad news in priced in already as long as they can survive, reduce debt, and not dilute shareholders ownership then I’m in for the long term.
Yes an interesting SP reaction ! . I do however fear another general Market correction in the near future , so I’ve pulled out for now but GL to those holding.
For retailers, this year is all about survival. What is key is the long term earnings capability of the business. If Next can get through this while preserving shareholder's equity (which it looks as though they will do to me, even in their worst case scenario) then their earning potential should return to pre-Covid levels, perhaps even strengthened as their competitors start to fall away
and the shares are up ,that is stock market for you , usually you would see 30% drop .
NEXT plc
NXT
4,839.00 GBX
+53.00 (1.11%)
Next has warned that sales will suffer this year with shoppers kept away amid coronavirus.
The fashion retailer said on Wednesday that full-price sales in-store and online could drop by up to 40%.
The company said that it was hard to think of a time when sales and profit had "been more difficult to predict".
In the three days before non-essential shops closed under government instruction on 23 March, in-store sales plummeted by 86%.
I just thought they could have been worse. If they can get the year with less debt that they started then for me that’s a positive. Yes they are terrible but just thought they could have been much worse.
Credit to NXT for providing a very comprehensive account of the position they find themselves in. Unfortunately it doesn’t mask the plight they are now in and the sharp reversal in spending habits that will now be seen.