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Having held for a year and doing well, I sold out 3 weeks ago thankfully. Something didn’t feel right! Gut. Zero communication on anything. And constantly sinking.
I really like Saga as a brand and I’m hugely positive it will come good long term, but for me, something is going on here short term. DYOR.
Be good to see you in BB
Thanks for this tip ages ago Rox. Been on watchlist for 6 months.
Turned out to be a good switch, a few weeks ago, got lucky on the timing like. Cheers.
DYOR. GLA
Tripp knows :-)
It’s not a new short. It’s reducing or closing its short position, which is a positive indication
I sold my Saga to come in here because I became extremely frustrated with them giving no update or indication of sales or any sort of communication other than every quarter.
I said it before, there is absolutely no harm in a little update now and again to say ‘everything going well guys’ ‘things looking rosey so far etc etc’
Yes be cautious, but if you have something positive to say, say it. Simple communication and it’s nice, as well as reassuring.
Minor point, but I work in Hotels, and for the last 4 months especially, and for at least the next year ahead, they are on Covid cancellations catch up with weddings especially, but now Xmas parties, birthday celebrations etc etc.
They are absolutely rammed to the brim with bookings, running 2 weddings a day, at weekends, and also lots more mid week weddings you wouldn’t normally get.
Only reason I mention it is the shear amount of cards and dressings I’ve seen, means they have doubled.
Let’s hope most are shopping at CF.
Just been in my local CF. Guy said they’d been very busy and just taken on 2 temporary seasonal staff. 6 staff including manager. 1000sq ft.
Said they were now comparing themselves to 2019 and doing very well.
Also my dad is a FD for a firm/factory that makes greetings cards and envelopes. He also says 100% on cards as wastage will be high. And happy to take 55% on hard goods. DYOR.
My mate owns a very large online Toy business. Comes from retail originally and he says for hard goods of a similar nature, mugs, teddies, key rings etc etc, between 50-65% margin. Therefore I reckon across the board with mix of cards and hard goods, 75-80%??
All just IMO, DYOR.
Great posts too Rox. Ideal having an inside source.
I’ve read most greetings cards are sold at 100% profit. With other goods probably at a lot less….I would take a stab at 70% margin average across the board.?? Got a mate in the industry so will ask
Rox - Lets take Bishop Auckland as an example.
Average British town. Low income area. Population 24,000.
Rental 14k a year
Let’s take 5 full time staff as example at 9.21 an hour on average as advertised.
Take some other fixed costs Electric, insurances etc etc. No business rates under 15k a year.
And your break even is around £15,000 a month.
Go in and find out what there target is??!! Hahaha
Rox - Bishop Auckland, fairly near you, rental is £14k a year, 999 square foot to give you some indication
https://www.barkerproudlove.co.uk/retailers/details/card+factory
Bat - they do keep an eye on this forum and monitor all the feedback. So any points are always worth raising. They took on board a post regarding someone’s tour cash burn rate which seemed to confuse, so they tried to rectify that.
I mentioned general communication from them which they took on board. It should not take ‘us’ hours to track bookings through there website. An odd update wouldn’t go a miss now and again.
Apart from that there is little else to say. They said there ‘on par’ with there peers share decline from a weak market generally.
So I’d say, keep up the questioning!? Life is about people and communication. It doesn’t take much keeping your shareholders reasonably informed now and again, even if it’s through media it is not a tough job.
Just seen a line from the poem ‘Desiderata’
‘Exercise caution in your business affairs, for the world is full of trickery’ :-) :-)
I might come back in because I like Saga but something at the moment doesn’t feel right.
DYOR GLA
There lack of communication I find striking. After there peak booking period of September/October an RNS showing figures good or bad or just anything would help? I see CARD now a possible better opportunity at its price. But no one knows! DYOR GLA
Sold all mine yesterday. Done me well overall. Having a chat with Emily Investor relations in an hour to see what she has to say. Might come back in.
Haha Oh man!!! You can’t write some of it.
I was going to buy at 47p last week but held off. I’m Ok with 49. DYOR GLA.
Let’s see where this ride takes us
Haha…buying Saga was a good move last Nov, and pretty much gambled my way out of covid with them and paid my car and holiday off as well as keeping my business alive so did well. The Saga price will now go up obviously, and Card down haha as it does!!
GLA
I’m in.