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Real-Time news about Clinton Card (London Stock Exchange): 0 recent articles
|m.t.glass: More than a little gain now, h2. Share price has climbed over 100% in 12 trading days. A remarkable bounce.|
|m.t.glass: "..Embattled retailer Clinton Cards has said plunging consumer confidence and a lack of shoppers on the high street pushed it to a £10.7 million loss last year.
The greetings card and gift chain, which owns 596 Clintons stores and 127 Birthdays stores, fell into the red in the year to July 31 after recording pre-tax profits of £11.97 million the previous year..."
Share price holding up remarkably well, at the moment.|
|m.t.glass: Horrible results.
If anyone bought in thinking there was a pleasant surprise driving the share price up over the past week, they've been had. (The sensible ones sold yesterday when they saw that negative candle taking shape)
The Independent last night had this to say about one competitor:
|guru11: CR - You like me must be watching BBC 2 teletext results page and share price results page - I have started to do this again. The pe ratio of CC is now quite low, and I do wonder whether there is not more mileage in the share price|
|25cent: I stick to my January Profit warning and short term 2p share price target.
Woolworths card sale must have been the final nail in the coffin or should i say final nail in this bin bag case.|
|empirestate: went into clintons on fenchurch street yesterday and it was more like panic buying, the shop was packed and the que at the till was 50 peeps long. doesn't appear to be any christmas card sales discounts on and i reckon folks still want something special in a card. am looking forward to a half decent sales update as the share price has priced in doom.|
|bonzo1: westcoastrich i notice you are doing the rounds on the retailers saying they are going bust - you sad man.
Clinton cards is not doing as abdly as the share price suggests 5p rediculous just over 1.8m shares tarded - wow £90K worth and share price down 20%. Day light robbery going on, small shareholders being shafted and the likes of westcoach speading rumours.
could easily double or even treble in next to no time. Lewin and family own decent size stake, not sure why they dont take it private at 20p per share?|
|ang5: big trade at last a few days. any news?
note: share price not move, why?|
|ydderf: Surely it is in all shareholders interest for the share price to be depressed so that shares can be bought cheaply for cancellation, the paradox here is that it is also in the prospective purchasers of the shares interest to buy at these low prices. If the management wanted to take it private they could do easily at 40p, who would complain? Not I with an av of 16.5 purchase price....
Anyway, punters will soon increase their card buying again:
1. There's more change out of a tankful of petrol now
2. There will soon be dosh left over after paying the mortgage
3. There's gonna be change left over in the pay packet after the government (rumoured reduces tax to stimulate the economy
It will all look very different in a few months when retail comparables start to be positive. Of course CC and others will have already started to move up sharply before then.
My question though, is how sustainable is an economic culture that relies upon ever increasing retail spending to be 'healthy'? Clearly another way of life must emerge, otherwise in say twenty years, real consumption will have doubled or tripled - how can that be managed, birthday cards in six packs, happy Monday cards?|
|bonzo1: Clinton's are just blaming the economy when in reality Clinton Cards is a poorly managed company who's owners would love to see the company go private at a pittence to what the company would be worth if it were properly run.
Lewin owns 30% and wants to take this private as cheaply as possible.
interesting article taken from another website:
The City agrees with me, kanemochi et al let me explain why!! The accounting nicety is the £30 million pound writedown in Birthdays "intangible goodwill value"! The aim was to depress the share price...well that's happened...they also briefed the FT well misleadingly well(see todays news)....to the extent that the FT state a "sharp decline" whereas the accounts indicate a footfall decline since year end of just over 2 & 5% for Clintons and Birthdays...whilst spend per head is keeping up!!
The wrinkle is in the smallprint...Mr Lewin owns over 30% of the shares...the company (he) wants to retain more control over the business without triggering a formal bid yet....so the clever accountants have dreamt up this solution.
At the AGM a very neatly worded resolution is being put forward that exempts Mr Lewin from for bidding for the company if the company buys back it shares. If this wasn't passed a buyback and cancellation of shares would automatically increase his holding and force him to bid!! By exempting his holding he (sorry the company!!!LOL) can use the part of the surplus cashflow, currently running at about £30million pa, to buy back and cancel the shares - which the company can do to best advantage if the share price is depressed! If they buy enough shares Mr Lewin will by default become potentially owner of over 50% of the shares at which point he can take the company private....VERY CLEVER...or IT STINKS depending on your viewpoint!! It is also debatable that it is against company law as the company would not be acting in the best interests of ALL its shareholders - hence the need to get the turkeys to vote for XMAS at the AGM!! The cut in the dividend to conserve cash further helps to depress the share price!! And in fact prioduces the free cash to buy the shares back with....!! GEE this really is clever....good thing I've only just bought my holding.|
Clinton Cards share price data is direct from the London Stock Exchange