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Shoe Zone tipped as a buy in yesterdays Sunday Times
Actually can be either per the Motley (I know nothing) but in the case of Shoe they may well not need the money - they had £16m in the bank last September.
Graham, it's not the company itself which sets up DRIP, it's the investment platform you are using
Why doesn't SHOE offer dividend reinvestment?
Thx
Well run company steady as she goes
This time las yr share buybacks were announced
Shar
e buybacks announced Dec 2nd 2022
Let's hope we see a repeat of Q4 '22. Last year when FY trading update given the sp was 180p it drifted upwards to 205p the day before FY results announced on 9th Jan, then 20% up in week following. This year with better FY trading update we start at 215p ... so a nice drift to 230-240p before a hike to 280-290p would be a great start to the New Year and fully justified
A 10% rise in the minimum wage from April is going to put added cost pressure on every high street retailer that hires junior staff on under £15p.h
Why the SP drop this month?
Any thoughts?
Nice SP rise today
With Long Term Gilt yields returning to the 4-5% range and with an equity risk premium of, say, 3% ... this should mean that a "Solid but unexciting" stock like SHOE should be trading on a p/e around 12 .... which translates to a price closer to 300p. I still firmly believe we'll top 250p again when FY results are announced ... I will take a 'boring' 10% gain in the next two months
Yeah mamman,very confusciouse....as kenny everetts chinese impersonation,would say
Troajan
Not bad
Shoezone Holdings plc issued a FY trading update for the year ended 30th September 2023 this morning. Group revenue increased by 6.1% to £165.7m, store revenue was up to £134.8m (FY 2022: £129.8m) with digital revenue up to £30.9m (FY 2022: £26.4m). Product margin increased to c.62.1%, adjusted profit before tax is expected to be not less than £16.0m (FY 2022: £11.2m). The Group’s balance sheet remains solid with net cash at £16.4m. Valuation is average with forward PE ratio at 10.8x, dividend yield at 3.67% is also average. Share price has been drifting sideways through 2023 but remains in a longer run uptrend. The weakening macro environment is a cloud for consumer cyclicals more generally, but SHOE is a solid, if unexciting, Speciality Retailer and certainly worth monitoring. ..
...from WealthOracle
wealthoracle.co.uk/detailed-result-full/SHOE/820
So current P/E around 8 on these very good numbers.
It's a pity they didn't have the confidence to say, "a final dividend not less than Xp" will be announced in January, thereby giving the fund managers a clear picture of the yield they will be getting.
Very good to know that the 3.8m share buybacks were at a price of 214p ... so we're already up almost 1/2 million on those transactions !!!
Retired Banker
Thank you and let's hope for a decent bounce soon
Niklol - there is a possibility that somebody has insider info .... but I doubt it.
FY23 has completed so a bit of speculative trading could be occurring ahead of FY trading update (which we got on 25th Oct 2022). However volumes are very low so I think market makers just don't want to be on the wrong side of results announcement. I don't expect a bad announcement, otherwise I think the BoD should be warning the market, given how positive the last few RNS have been. I suspect we get a very healthy bounce in next couple of weeks, but DYOR
Why this SP drop? Any ideas please?
There seems to be a lot of sells daily compared to buys I have noticed
Price has dropped 10% in past month since a very positive update. This time last year BoD announced PbT would exceed £10m and they actually hit £13.5m ... this year PbT of £13.5m has been announced a month and a half earlier before the back to school busy season. I suspect this won't be trading on a p/e of 3 for very long when the next trading update comes out.
Rightly so move higher,
Amazing!
Ex divi tomorrow.
Does Shoe usually drop on ex divi day???
Great trading update, up 4casts by 3 million