Carpetright Share Discussion Threads

[tr65] 31/1/2017 12:01

Why's the valuation unfair now? Surely it's more that it's fair now, after years of being overvalued.

[blondeamon] 31/1/2017 10:48

Growth can clearly come from EU markets, especially Netherlands. CPR can increase market share there significantly over the next years.

UK keeps improving, with cash starting to show 2 years after closing a store all the big closures of 2014-2015 will now start to show in the bottom line.

There's not going to be a big bang, they'll upgrade 300 stores eventually to the new format and close another 60-100 while EU will grow. It will be a market leader in UK with a good International presence and hopefully a good dividend by 2018.

Valuation now is unfair but expected given its history from previous board. I'd like to see 300p by year end and back to 400p with a dividend by end of 2018.

[napoleon 14th] 31/1/2017 10:22

Shawney - I filtered larva yonks ago - thanks for reminding me why!

CPR - I'm not ready to go back in yet. Maybe the rot has stopped but I don't see
much prospect of growth yhet.

[blondeamon] 31/1/2017 09:03

Yes, Neptune to clear. I guess there's still 1-2m shares held from them so with this rate should be finished within the week if new buyers find this attractive to enter.

Or not, no one can foresee the market. All I know is this is a great company with a plan that is clearly working and a competent board executing it.

[tr65] 31/1/2017 08:55

Is there anything here that will stop the relentless plunge since last July? (Answers on the back of a mouldy roll of carpet, please)

[shauney2] 31/1/2017 08:20

larva,you changed your post 1115.Before the RNS you said they were going bust and nothing about LFL.
Lying little scrote.

[connor23] 31/1/2017 08:03

Happy with that, but time will tell if the positive trading is the start of a trend or not.

[larva] 31/1/2017 06:46

All this is a load of empty shops leases not making profit


LFL up but in the quietest quarter means nothing and all sold on interest free credit

[supasapi] 30/1/2017 11:48

are you still in here Blondemon?

[only who?] 23/1/2017 20:59

We've had a bit of a recovery from 150p, so could this be the time to relight shorts?

[kumala] 06/1/2017 17:29

May 2012 Share price £6.25
Phil Harris leaves company.
Where is the Share price now January 2017.? Under £2, and not far from float price.
K



Guardian 11th MAY 2012. Dan Milmo
Carpetright founder steps down after 24 years
Lord Harris is a self-made millionaire who made his fortune through selling carpets for more than half a century and founded the group in 1988


Lord Harris is ending his 24-year reign as chief executive of Carpetright, with the struggling flooring specialist announcing the former finance director of Sainsbury's as his replacement.

The move comes a fortnight after the retailer issued its seventh profit warning in just over year, triggered by rising living costs and a moribund housing market. Lord Harris is a self-made millionaire who made his fortune through selling carpets for more than half a century and founded the group in 1988. However, the educational philanthropist and Conservative party donor will maintain an influential role at the business by retaining his position as chairman.

His replacement is also no stranger to the company. Darren Shapland is a non-executive director at Carpetright and was the firm's finance director between 2002 and 2005. Shapland then left to take up the same role at Sainsbury's, later becoming group development director. Lord Harris said: "I am confident he will make a huge contribution to the future of the business." Carpetright also announced that the heads of its UK and European businesses will step down from the board in order to retain "an appropriate balance" between executive and non-executive directors.

Sheila Noakes, Carpetright's senior independent director, paid tribute to Lord Harris. "He is a hard act to follow," she said. A Carpetright spokesman said Harris would initially work four days a week as chairman before gradually reducing his day-to-day role. Harris's son Martin is the firm's commercial director. In Carpetright's latest profit warning, the company said annual profits would be between £3m and £4m, a sharp decline from previous forecasts of between £12m and £17m.

Shapland said: "I am delighted to be appointed as chief executive of the Carpetright business and I am looking forward to working with Lord Harris and the team in the future development of the business." Shares in Carpetright closed up 1.2% at 625.5p, valuing the business at £417m.

[toffeeman] 06/1/2017 08:33

Spot on tr65 - I though so too and lost a few quid trying to short it!

[tr65] 05/1/2017 21:05

Rather than wonder why the price is low now, the mystery of CPR to me is how incredibly high the price was a few years ago, defying reason.

[simso] 05/1/2017 15:26

A quick review of the numbers would indicate why the share price is so weak. The average Brokers forecast PBT is £16.1m, some £1m lower than achieved LY. However, the recently announced first half was £5m vs £9m last year...so the second half requires a big reversal of fortune...to achieve £11m v £8m last year. While the Interims in December suggested that the Board were "comfortable" with Brokers forecast...I think the City (and me!) seriously doubt that, and a profit warning at the end of Jan looks almost inevitable to me. A big miss on the Broker Forecast, followed by an outlook for 2017 which contains potential further margin erosion from currency headwinds, uncertain trading conditions, further competition from a developing Tappi, Minimum Wage increase.
I am not sure I see it heading to 70p as suggested. It would still be profitable (albeit reduced), without much debt, and 70p would be significantly below Net Assets.
However, for the reasons above, I am short on this.

[supasapi] 05/1/2017 08:52

I'm an ex holder here too, but occasionally visit to see how it's going.... for me this illustrates how wrong I and others can be on a specific share - I was heavily exposed as it seemed to be a decently ran outfit but now if someone asked me to explain how a business has lost nearly five sixths of its value in 18 months, I couldn't and this is why I question why I should be in investing at all when I know apparently so little..... I have no confidence in calling the bottom of this.... all I know is that if this business is still making money then it will come back one day and I would love to get in near the bottom

[larva] 29/12/2016 21:42

When this gets to 70 I will say I told you so

[tr65] 29/12/2016 18:24

Large late trade. Let's see if 150p gives way.

[larva] 27/12/2016 20:04

All this is a load of empty shops leases not making profit

This looks set to go bust in 2017


Got to be a profit warning in January and I call this down to 70p

[gleach23] 24/12/2016 00:11

I did say it was modest :) ...but agree that it will take a fair bit more to reverse the downward trend

[tr65] 23/12/2016 19:10

Brave move, but CPR doesn't really seem to have any buying interest for months - or years!

[gleach23] 23/12/2016 12:14

Chart looks dire and best practice is often not to average down. However, having resisted a top up for months, I saw the apparent modest buying interest today and thought I'd join in.

I accept it could be foolish but I'm banking on the fall being overdone.

[larva] 22/12/2016 20:10

All this is a load of empty shops leases not making profit

This looks set to go bust in 2017