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CEO bought 50,000 shares yesterday at 41.9p.
I see this as good news and very similar to what Ted Baker did just a few months ago, initially the news increased Ted Baker's share price by 40% shortly after the announcement. Although the Ted Baker SP has fallen back since and is quite volatile at present, I would expect to see an opportunity of a 20% to 40% lift in Topps SP forthcoming.
GLA
Based on the Group's net debt position at 29 May 2020, at completion of the Sale, the Group would have net debt of c. GBP7 million with c. GBP42 million of available liquidity (including the credit approved CLBILS GBP10 million loan facility which the Company announced on 19 May 2020 and which is due to be finalised shortly).
Sale and leaseback of HO and central warehouse buildings.
Sale proceeds: £18.1m.
20-year lease, annual rent of £1.2m.
This share price should be higher, the buys have outweighed the sells for the last 3 weeks considerably. Topps is one of few retail stocks that hasn't had a decent second lift from initial crisis lows.
A fair value right now would be 45p wouldn't surprise me if there is another RNS in the next few weeks with another fund taking a stake, maybe this is when we will see a fast progression to 45p
GLA
RNS, up to 5.02%
Liberum reinstates Topps Tiles as a ‘buy’
Liberum has reinstated a recommendation on Topps Tiles (TPT) as it believes management is being ‘proactive’ and adaptable.
Analyst Adam Tomlinson moved the recommendation from ‘under review’ to ‘buy’ but has not yet set a new target price.
Sales declined 80% year-on-year in April as Covid-19 forced the closure of all stores although there Tomlinson pointed to ‘promising signs with online sales’ which are three times higher than before the lockdown.
‘Management is being very proactive in adapting and reopening stores, such that the entire estate could be open on a controlled entry basis by the end of June,’ he said.
‘Liquidity at circa £14m remains comfortable and should rise by £10m in June as additional [government] funding becomes available.’
This means nothing to me
Oh Vienna
New CEO comes in and éngineerS´ crap figures, so that anything he does looks good imo. We have to wait 18 months before heh presto everything is marvellous and what d´you know his renumeration goes through the roof, courtesy of a completely independent remuneration committee - we loose a year´s dividend and eventually the share price comes back to where it was before he started. A great investment for someone - just not us.
However I suppose it´s nice we havent gone bust just yet. Gla.
From their Linkedin profile:
Industries
Venture Capital & Private Equity
MS Galleon AG, Vienna
There's a lot of information in there, good to see they are progressively opening their stores.
UK's Topps Tiles says on improving trend as stores emerge from lockdown
Tue, 19th May 2020 07:23Thomson Reuters
LONDON, May 19 (Reuters) - British tile and wood flooring
retailer Topps Tiles said on Tuesday the coronavirus
lockdown had a material impact on trading during April but the
gradual re-opening of stores was generating an improving trend.
The firm expects to have 250 stores fully opened by end of
May, with the remaining 100 stores open by the end of June.
For the half year to March 28, Topps reported an 85% fall in
adjusted pretax profit to 1.2 million pounds ($1.5 million),
reflecting a tough trading environment even before the pandemic
hit.
essential for a revival of the property market
https://www.bbc.co.uk/news/uk-52641373
Good volume today, 1.658m shares.
and the 2nd RNS indicates a holding of 4.92%.
2nd RNS has corrected the first: threshold crossed on 06/04/20.
Ninety One UK Limited (was Investec Asset Management) holds 5.01%, but indicates the date the threshold was attained as ... 29/08/17, so don't know what to make of that.
Ceased normal store operations, because of Covid-19.
Quite a sharp improvement in sales in the last month: -3.1% over 12 weeks v - 5.5% over 8 weeks.
In terms of cash position, reassuring message: interim dividend "not expected" to be paid this year.
I had misunderstood - good!
Tpt up from lows of 25p on the 19th.
Looks like the market expects of lot of people will use their locked down time to complete some home improvements.
I've taken my profits here but will buy back in on any dip.
G
Sorry to see you go, Majorboy - best wishes for the future.
I noted this statement from Dixons Carphone's update of this morning:
... To date, the Group's trading has not been impacted materially by COVID-19...