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What are you smoking....these are terrible
Looks fairly positive to me (if you can say that in this climate)
https://otp.tools.investis.com/clients/uk/next_plc1/rns/regulatory-story.aspx?cid=115&newsid=1388344
How the hell is this share at £46 is beyond me
They also get a lot of money from lending money to their customers. Some of whom now won’t be able to pay back and may default. I dodged a bullet here selling out in Q4 at a bit of a loss. Can’t see a reason buy back in at these prices given the risks.
It seems NXT is slowly turning into a disaster. Not only will their UK customer base be shrinking fast in terms of disposable spending income, but the current demand issues will turn into supply ones given the level of closures within the overseas garment mfg sector. This coupled with the clearance of out of seasonal stock and the general High St. depression / closures and resultant lower footfall its difficult to see the Company returning to health any time soon. Thankfully its not my problem.
If they haven't already, they will need to do soon. There worst case scenario is 1BN revenue drop, will be more given there will be a lack of demand once the shops and online re-opens fully. Spring / summer collections will be wiped out which will already have been bought as stock, will only sell at losses or little margin. Can only see NXT going down to nearer 2500p in the next 3-6 months. Difficult to predict there forward projections
Hi,
Has Next Furloughed staff?
Thanks
I live 2 miles from their HQ which is an impressive building and one mile away from the M1 and M69.The strategy sound good but the problem is who will buy in the current situation everyone is saving money
good chance of a rns in the morning, they are closing down there warehouse and distribution service according to an email i received from them tonight
Background
At the end of last week, after listening carefully to the concerns of our warehouse colleagues about their ability to distance themselves at work, we made the very difficult decision to temporarily halt all warehouse operations and close our website.
We are working hard to safely resume our online operations within the next couple of weeks and have spent the last few days trying to work out if it was going to be possible to get your outstanding item(s) to you in a reasonable period of time. It is now clear that we will only be able to resume limited operations when we re-open, and so it is impossible to know if and exactly when we will be able to deliver your order.
Accuracy of your account and the need to cancel undelivered orders
At a time when many will be concerned about their finances, we believe that it is important that customer accounts accurately reflect what customers owe to NEXT. Regrettably, the only way we can be absolutely sure that all accounts are accurate and up to date is to cancel all outstanding undelivered orders.
You may receive separate automated cancellation communications over the coming days.
Well if it is a "joke" it has spread across the media As Oxygen says it seems a proactive thing to do albeit it becomes a long term liability
https://www.theguardian.com/business/2020/apr/01/next-hq-three-warehouses-sale-virus-mitigation-plan
Also
Moody’s placed Next’s long-term issue rating and backed senior unsecured rating on review to downgrade to Baa3 from Baa2.
Unfortunately that's no laughing matter
Remember it was April 1ST when this so called announcement was made!
No doubt they will be able to raise money quickly by this route . However it's expensive money. Maybe leasebacks at 6 %/7 % ? Desperate measures for desperate times .Little choice I guess
Good to see NXT being proactive here. Just a shame they have so much stock tied up in Shops & Whse’s that will likely be seasonally behind the curve when trading resumes. Could be quite a few
discount Sales coming to your nearest High St. soon !
Announced today they are have instructed agents to sell the family silver incl head office and 3 warehouses and leaseback to raise some cash
Desperate times swapping short term gain for long term pain I guess liquidity takes precedence
Don’t know about 6 months but another month of negative news , which you can rely upon the UK media to provide in abundance,, and daily sells then NXT has no where to hide without any ability to release positive news. Completely unchartered territory when all trading has ceased. Can only see it moving one way. In 6 months without change then ‘life support’ will have been switched off.
it could be 6 months for life to come back to normal according to the deputy chief medical officer...if we HAD to stay shut, even on and off for that long...what are the implications here?
Surprised there isn't more interest in the board. Yes in the short term Next will be selling nothing but once all this mess recovers, these rates are bargains.
Not invested here but good long run potential gains.
No me...for sure....!!!!!
Seriously. Who is buying this right now?
A body blow to the company and I expect a big drop today. However, the company must put the employees interest first and I believe the action taken is correct.
The reserves should see us through and hopefully when this period in our history is behind us, retail will have changed drastically, but we shall be in a stronger place and hopefully the online supply chain will become the dominant part of the business. Don't forget, the Wolfson family have been in 'Mail Order' for much longer than anybody else and could do well without actual shops.
Shame about the divi though, big part of my pension!
I've read reports in media that Next have taken "difficult decision" to close their website due to COVID-9 shutdown. Surely, online customers are the most accessible target given recent events??
be affected some will go under but nxt is tried and test and in good shape to weather this and now the government will be paying the wages of those sent home ok profits will be down but what a boom when this is over im a buy at this level and any price below it will help me retire in five years jmo.
You could say this is game over. And for most retail chains that would be true. At least with next there is a secure profit with half the sales being generated online. Perhaps this will help to rationalise stores in future, but for the time being, means that profits are dented. stay safe, Baz
I hope we don’t see a massive drop if we have to shut the 700 stores I’ve halved my holdings yesterday just in case