Member Info for muzmanoz

How you can compare bandm to poundland or even boohoo is beyond me.

A bit of a gamble at the moment. If you go in store they have cut prices but can they achieve the volume they have to support the cuts. They are targeting their top lines across all stores (amazing this wasn't already done) but you can see gaps in the shelves because stock availability isn't there yet. Stores are busy and staffing levels up for the golden quarter.

What was Alex Russo doing. And why did they pay so much money to Bobby Aurora its gets its own line in the accounts

My local store customer traffic has really picked up over the last couple of weeks. Seem to be less of the "simple" branded goods which were terrible quality and I assume own brand. Focus has moved from store appearance to pricing accuracy I'm told. Just need to sort out the staffing. They pay minimum wage 16 hour contracts, hire more people to put on the tills.

No q and a in the presentation will go down well.......

Below covid lows now. That takes some doing.

Its a very average update. No profit guidance until seven and a half months into the year. Up against weak comparator. And they've sold all their seasonal stock early. Why can#t they provide any guidance?

That's interesting take from RBC. Under Russo the focus was prettying up the stores, not driving sales. Store inspections every few days so the mininum number of staff that are left spent time tidying stores rather than turning over stock.

They devote lots of store space to stock that doesn't turnover well and don't prioritise promoting seasonal and in vogue stock. Managers specials are just items already found in store and not usually discounted. There is lots for the new CEO to take a run at.

Long queues at tills because they've reduced staff numbers.

No, I want something they say to actually happen but too many false dawns giving too much of the company away. Let's not forget NIU.

Its a non binding letter of intent. No agreement, no funding.

Yes, get the new CEO in and wave goodbye to Russo. The stores are now badly run, having slashed staff and hours, losing experienced managers and moved to a focus on making the stores look nice rather than a turnover of stock.

As far as I'm aware they've still not guided on nic hit.

Retirement, he was 53? Shoved?

Have they announced what the national insurance hit will be? Seems like most retailers have but not bme. There seems to be a lack of visibility and communication from Russo. They don't seem to be as cheap compared to their competitiors as they once were. A lot more movement in their prices from day to day (eg chcolates a £ more expensive than the week before). It all smacks of moving away from providing value to the customer and trying to be too clever.

Kiss of death with that board appointment

I'd been waiting for the refinancing announcement for the 2025 bonds. I wonder if the Arora's will take some of the bonds. They did last time and I wasn't sure whether that was a sign of confidence or a lack of interest from the market as a whole.

If you look at the financial results table most of the year on year figures are negative. They don't talk about budget headwinds on my first scan. In my area, the stores are now badly run and quiet.

Isn't this drop just because investors thought that NIU had to provide the draw down cash today. No RNS and people are assuming its not happening. It doesn't help that communication from the BOD is so vague but from what I've seen they have not stated that this is a factual date and it's an ongoing process.

Https://news.sky.com/story/grocers-tax-burden-soars-after-reeves-slashes-ni-threshold-13244820

B&m employs a lot of people on 16 hour contracts. They are going to get hit big by the reduction to the employers national insurance threshold. It depends if you think its already int he price.

Link to the interview

Https://youtu.be/Rp5fQy1o7jc?si=zrtKDpp-YPtElmJV