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Sancho Panza

Debenhams Boss Say High Street Was 'sea Of Red' In Run-Up To Christmas

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Sometimes I wonder without continuing high immigration/growth of population where they think people will keep getting all this extra money to spend on products and services?.....debt and rents, keeping a roof over heads is surely the priority, the system wants to continue to keep that housing cost expenditure high, therefore less to spend on discretionary stuff, those with the money to spend have enough stuff anyway, all they want is health and peace of mind.....if the corporates and firms are complaining about seeing red......they should ask themselves if the wages they pay their staff would pay the basic living costs in the area they work with or without state help.;)

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1 hour ago, winkie said:

Sometimes I wonder without continuing high immigration/growth of population where they think people will keep getting all this extra money to spend on products and services?.....debt and rents, keeping a roof over heads is surely the priority, the system wants to continue to keep that housing cost expenditure high, therefore less to spend on discretionary stuff, those with the money to spend have enough stuff anyway, all they want is health and peace of mind.....if the corporates and firms are complaining about seeing red......they should ask themselves if the wages they pay their staff would pay the basic living costs in the area they work with or without state help.;)

1920's again - trouble with taking all the money is you end up with no customers, dividends, etc.  Greed is self correcting, in the very, very end.

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2 hours ago, Ash4781 said:

Showing as £286mm market capitalisation. Wonder if Ashley will reveal his plans soon ?

799ABEE8-D775-4866-AE20-D4D12845F53C.jpeg

Most shorted on the FTSE apparently.

https://www.bloomberg.com/news/articles/2018-03-02/mike-ashley-gives-weary-debenhams-shareholders-a-glimpse-of-hope

'Billionaire retail magnate Mike Ashley is giving shareholders of Debenhams Plc something to cling on to.

The embattled U.K. department-store owner soared in London trading on Friday, defying a broad market selloff, after announcing that Ashley’s Sports Direct International Plc had increased its share of the voting rights to 27.6 percent from 21 percent, just below the 30 percent threshold that would trigger a mandatory takeover offer.
 
Debenhams is the most-shorted stock on the U.K.’s FTSE All Share Index, with bets on a fall accounting for 24.6 percent of shares outstanding, according to the latest data from IHS Markit. The stock has slumped 44 percent over the past year as sales were pummeled by a flight of customers to online retailers like Amazon.com Inc.'

 

 

'

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Sad to see Debenhams fail.....So who do you think will rent all this excess commercial property in prime positions at the rents they ask????? Am or EB platforms, doubtful, or will it become lightless housing units?.....fewer purchasing choices is not beneficial for consumers.;)

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31 minutes ago, Sancho Panza said:

Most shorted on the FTSE apparently.

https://www.bloomberg.com/news/articles/2018-03-02/mike-ashley-gives-weary-debenhams-shareholders-a-glimpse-of-hope

'Billionaire retail magnate Mike Ashley is giving shareholders of Debenhams Plc something to cling on to.

The embattled U.K. department-store owner soared in London trading on Friday, defying a broad market selloff, after announcing that Ashley’s Sports Direct International Plc had increased its share of the voting rights to 27.6 percent from 21 percent, just below the 30 percent threshold that would trigger a mandatory takeover offer.
 
Debenhams is the most-shorted stock on the U.K.’s FTSE All Share Index, with bets on a fall accounting for 24.6 percent of shares outstanding, according to the latest data from IHS Markit. The stock has slumped 44 percent over the past year as sales were pummeled by a flight of customers to online retailers like Amazon.com Inc.'

 

 

'

Is Ashley still a billionaire?

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Half year results out today. https://www.theguardian.com/business/2018/apr/19/debenhams-profits-slump-52-beast-from-the-east-sales

My reading is that their margin failed to hold up post Christmas so we’re heavily discounting so a hit on the margin. They do have significant headroom in their finance facility. Still seems like the strategy is a phased \managed removal of retail space with digital growth. 

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On 12/10/2017 at 6:32 AM, Fence said:

Went to Waitrose Friday for a waz, free tea, and tub of mini rolls on me trip down South.  What the what?  Those prices for real?  People really shop there?  Like, trolleys and everything?  Oh well, guess it's just poncers poncing poncers.

nah we just earn good money son

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3 minutes ago, happyguy said:

Went to Waitrose Friday for a waz, free tea, and tub of mini rolls on me trip down South.

The correct grammar is MY not me.  No wonder you cannot afford much. 

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12 minutes ago, happyguy said:
17 minutes ago, happyguy said:

Went to Waitrose Friday for a waz, free tea, and tub of mini rolls on me trip down South.

The correct grammar is MY not me.  No wonder you cannot afford much. 

coming down south, the correct grammar is ONE, not MY, not me.

Went to Waitrose Friday for a waz, free tea, and tub of mini rolls on one's  trip down South.

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This is a dead man walking. Just a matter of time. Probably better for them to voluntarily shut up shop rather than just struggle on.

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3 hours ago, Errol said:

This is a dead man walking. Just a matter of time. Probably better for them to voluntarily shut up shop rather than just struggle on.

Looks like it; the share price of 22p has just eclipsed the 5th December 2008 low of 23p, that was the winter 'Woollies' went under along with the entire British economy.

Profits were just 18 million and may get worse. They carry 1.3 billion in debt.

Edited by crashmonitor

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Debenhams’ pension surplus hits £91.5m despite profits battering

Retail giant Debenhams’ net pension surplus has almost doubled to £91.5m over the year on an IAS 19 accounting basis, despite pre-tax profits taking a £74.3m hit. 

In its interim results, published today, 19 April 2018, Debenhams reported that the Debenhams Retirement Scheme (DRS) and the Debenhams Executive Pension Plan (DEPP) combined net surplus jumped from £46.8m as of 4 March 2017 to £91.5m as of 3 March 2018, driven by a reduction in liabilities. 

The DEPP net scheme surplus was valued at £38.6m, while the DRS scheme surplus was reported at £52.9m, despite Debenhams contributing just £3m over the year. Both schemes were closed to future accrual from October 2006. 

Despite this, the results revealed that an actuarial valuation of the scheme taken on 31 March 2017, showed the DRS scheme was in deficit on a technical provisions basis, though it did not reveal the size of the deficit. 

In light of this, Debenhams said that a recovery plan was agreed, and that the group would contribute £5m per annum into the scheme from September 2017 to 31 March 2022.

The new agreement is almost half of an agreement made in 2015, in which the retail firm agreed to contribute £9.5m per annum up until 31 March 2022. 

In October 2017, the group agreed to cover the non-expenses and levies of the pension schemes, including those payable to the Pension Protection Fund. 

The interim results mean that Debenhams shares hit a nine-year low this morning, as they also announced that chief financial officer Matt Smith is to leave the group to take up the position of finance director at Selfridge.

http://www.pensionsage.com/pa/Debenhams-pension-surplus-hits-91-5m-despite-profits-battering.php

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All these prime retail shops paying tax for all the people they employee and business rates and profits taxed in the UK being replaced with low wage Amazon warehouse workers and minimal tax being paid. Looking forward to seeing how this fits in with Theresa May's NHS funding plan where we're all going to have to pay a bit more tax....

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Fully funded pension is a good sign.....their web site is better than most, some good deals to be had.....prudent businesses are stronger, linger longer.....when did a share price ever tell a true story or show the real picture?😉

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56 minutes ago, Save me from the madness! said:

All these prime retail shops paying tax for all the people they employee and business rates and profits taxed in the UK being replaced with low wage Amazon warehouse workers and minimal tax being paid. Looking forward to seeing how this fits in with Theresa May's NHS funding plan where we're all going to have to pay a bit more tax....

Ill be honest, my local Debs is stuffed full of 16h tax creditors.

 

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