Member Info for IDoMyBest

"Easily through 700"

Spot on.......

Well **** me the dead cat seems to have some life left in it.

Caution, figures due soon, and they have already stated that they will be likely to report losses for the Qtr.

Best of luck to holders that it continues.....

Luxury car maker Mercedes tanked today.... -8% at one point.

Why, reporting significant fall in China sales, and predicting future sales fall.

This ain't over yet.

In your dreams....

"Is my prediction. Ridiculous over reaction."

Judging by the posting history, this lark is an expensive hobby.

The drop is clearly not an overreaction, it is backed up by crap numbers, and n years of bad management.

...and with the above, they are trying to actively reduce their sales, by closing down wholesale outlets. With the aim to enhance the obviously diluted brand (£350 t-shirts anyone, ok how about a £290 baseball cap).

It's going to get a lot worse before it gets better, and that assumes that the new management can resolve the issues.

Regards selling assets/downsizing.

What do they have to sell, they only have one brand.

Regards downsizing, downsizing for a retail store is almost impossible to do, stores are generally on long leases. This is why huge numbers of retailers failed over the last n years. 'Leasehold liabilities', prevent them from downsizing if required to save the business.

Note, that many of those retailers folded, allowing the leases to be dropped as part of the failure process. The brands were later purchased only to live again.

Fortunately for Burberry, I'd assume that most all of its stores are in very desirable areas. So leases may be easier to sell.

Burberry's mistake was to expand in the first place. Sometimes it's better to stay small, have a very loyal customer base, and control the amount of product you produce.

From Trench Coats and Scarves, to T-shirts and Baseball Caps.

What next, Rolex producing a digital quartz watch and selling them in supermarkets.

Burberry have weakened the brand (and not for the first time, remember the 'burberry chav' period), fatally or not is yet to be proved.

Blue chip…..

Baa2 investment rating, one above junk.

No longer profitable, stated by management, re next qtr.

Cancelled dividends

Demoted from the UKs premium index.

Share price collapsing, still

It isn’t a blue chip company any more.

'Burberry is a blue chip company'

Was it ever; which is debatable; certainly isn't any more, not even in the UK premier index.

Own other brands, no.

Regards buying it ahead of figures, to date it hasn't made a loss, one is predicted for the next qtr, and the future dividend was scratched.

A bit of a gamble, not one I am taking.

They are an investment fund, one of the biggest, with trillions under management.

Simply put, if you buy ishares or funds, blackrock take positions to cover customer purchases.

From the Report - pertinent part in uppercase.

"Our Q1 FY25 performance is disappointing. We moved quickly with our creative transition in a luxury market that is proving more challenging than expected. The weakness we highlighted coming into FY25 has deepened and if the current trend persists through our Q2, we expect to report an operating loss for our first half. In light of current trading, WE HAVE DECIDED TO SUSPEND DIVIDEND PAYMENTS IN RESPECT OF FY25. We are taking decisive action to rebalance our offer to be more familiar to Burberry's core customers whilst delivering relevant newness. We expect the actions we are taking, including cost savings, to start to deliver an improvement in our second half and to strengthen our competitive position and underpin long-term growth."

".... and if management are sensible a divi suspension is probable,"

Homework required

The dividend has already been suspended, it was suspended in the last financial report.

Nothing nasty about BT engineers this week please, I'm having Full Fibre installed on Friday. ;-)

Volatility in the opening auction often leads to the extension of that auction by 5 minutes, and sometimes another 5 minutes.

It generally means a significant move in the price is incoming, positive or negative.

Good news today.

The stake that many have suggested would need to be sold to save his company from floundering under a huge debt load has now in the process of being sold. Which sure beats it being dumped on the open market.

The only issue now is whether they get approval to buy all of that stake (we have a new government now), and theUK may not be quite so keen on Indian ownership.

FYI, mine was also paid, and I sold them weeks ago.

My shares were in my ISA

Can you confirm you were holding them on the EX Date?

FYI Record date does not matter, you just need to hold them the evening before they go Ex Div.

Private equity will raise its ugly head when the price is low enough.

In terms of retail, they are basically vultures.

If you are looking for a saviour, then there is LVMH, but if they wanted it, they'd have bought it (with petty cash).

"Wheres the low on this? "

Barring the obvious answer, or mentioning Superdry. The low will be when the market sees value, and at that point the shorters will also see value and close. But, currently one profit warning after another, div cancelled, CEO fired, and now indicated loss for first half of year. Then there is still the head office 'redundancy' rumour that circulated a week or so ago (pre the new boss). Directors buying was another lack lustre event. I assume they are saving their hard cash for when it really gets low.

So, where next, well IMHO lower as the next update is likely to confirm what they predicted, a loss, and still lower sales. So, it is no longer profitable (by their account), so can they make it profitable again, and do it quickly enough.

I'd leave it alone until there is better news......

I'll translate.....

Yesterday was a dead cat bounce, normal service resumed today.

On another note, the shorts seem to be filling their boots, regardless of those tiny; seriously lacking in commitment; purchases by the management.

No need to read the rest the intro is bad enough....

"Our Q1 FY25 performance is disappointing. We moved quickly with our creative transition in a luxury market that is proving more challenging than expected. The weakness we highlighted coming into FY25 has deepened and if the current trend persists through our Q2, we expect to report an operating loss for our first half. In light of current trading, we have decided to suspend dividend payments in respect of FY25. We are taking decisive action to rebalance our offer to be more familiar to Burberry's core customers whilst delivering relevant newness. We expect the actions we are taking, including cost savings, to start to deliver an improvement in our second half and to strengthen our competitive position and underpin long-term growth."

Add to that CEO gets sacked.

CEO ditched, Dividend Ditched, even lower sales, even lower predicted wholesale sales......

Fortunately for me they have not cancelled the dividend that went ex a few weeks back (yes they can cancel divs after ex day).

I am so glad that I dumped this.

Also, when it leaves the FT100, which it will at current Market Cap (even before yesterdays 4.5% drop).

All the FT100 trackers will have to adjust for that. AFAIK next reshuffle is September.