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down almost 6% even after yesterday's fall. Toe cap it all off the market in general has a spring in its step :(
Given the comments of the Company it seems this business will be troubled for a while. A small drop-off in revenue seems to result in a fair amount of loss. The situation for 2021 isn't going to be much better than 2020 as shops may have only traded for 3/4 of the year and on-line sales are small. This was a dividend payer, but the company thinks they won't return to that until 2025. Probably best to wait and see what they report at the interims.
https://www.bbc.co.uk/news/business-56327491
Hopefully, some benefits for SHOE here as well
They don't need to raise fresh equity as far as I can see. The only loan they have is the government corona support and that has low interest and payments can be spread out. They said they had £13m cash (£6m net) at year end. Okay they may have burned through some of that in the latest lockdown but I don't see why they would need to raise equity now. The main question is can the business get back to near normal. I don't see why not.
I've looked at this and I've decided that it's not for me. They were an excellent profitable dividend-paying company, but Covid has done too much damage. Really, they need to raise fresh equity to pay off some debt and to start over. But, no, they are going to struggle on, closing stores and avoiding all but the most crucial Capex, in the hope that in a few years' time they'll be able to pay dividends again. I'm not buying it. Zombiedom here we come.
They are turning into a corporate zombie.
Picked up a few more, first thing
Doesn't bother me, not long until the shops open
The tone of the statement bothers me, I don't see a fighting spirit.
If Mr Boot remembers the adage 'No Brown in Town' and comes into work wearing proper footware, he may last longer than Mr Foot.
the loss is huge compared to their size of company
the pension deficit large
shops still to open
nodivided till 2025
theyve said it themselves, its not going to be easy
from Wellington, NZ? I hope he and the outgoing Mr Foot can work closely together and become attached. I wish Mr Foot the best of luck in the footure and as he knows sometimes you have to take a step backward in order to move forward. I have not had a chance to try the results on for size so don't know if there has been a step-change but the market think they are a bit tight for wear as evidenced by the fall in the SP.
It looks like your making it up
they will need additional financing
I was thinking today would be a good time to top up but I've changed my mind about that.
Look grim to me. Today I'm just glad I'm holding in AVCT as well as SHOE.
GLA DYOR
Could this be the best thing I've read on share chat? I think it could!
The cfo is always named after a foot or shoe.
If Ronnie Corbett hadn't turned his toes up you would assume he was writing the SHOE press releases.
Great stuff, oh and the results....
Welcome Mr Boot. We hope you will quickly get your feet under the table and once lock down has ended go walk about to help shoe horn the business into better shape. There may be a few areas needing some polish however do not feel boxed in as we look to push above our small cap.
@ rickeasense - probably one of those - buy on the rumour sell on the news i.e. the budget
Not so sure LSETOWN. Every shoe shop I have been leaves one shoe outside on display. If that gets nicked there's your 50% dilution right there. Just sayin.
I doubt the BOD would want their 50% diluted!
would the company have to ish-shoe new shares? I know they are up to their ankles in cash due to its prudence but can see the temptation to slip on extra cash to the BS. Particularly as the company has had a good run-up from 38p.
does anyone know why this is dropping today after a pretty decent start
is really gathering pace! Well done to those who tried some on for size. I thought at mid 50s the market had the measure of these but it has made great strides forward since then.