Share Name Share Symbol Market Type Share ISIN Share Description
Debenhams LSE:DEB London Ordinary Share GB00B126KH97 ORD 0.01P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 43.00p 43.00p 43.25p 43.25p 42.75p 42.75p 906,356 15:59:14
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Retailers 2,341.7 105.8 7.0 6.1 527.96

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Date Time Title Posts
16/8/201714:07Debenhams charts/news2,120
15/3/201315:41Debenhams re-listed19
05/10/200323:29Debenhams is OK175

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Debenhams Daily Update: Debenhams is listed in the General Retailers sector of the London Stock Exchange with ticker DEB. The last closing price for Debenhams was 43p.
Debenhams has a 4 week average price of 40.50p and a 12 week average price of 40.50p.
The 1 year high share price is 64.25p while the 1 year low share price is currently 40.50p.
There are currently 1,227,822,150 shares in issue and the average daily traded volume is 1,128,331 shares. The market capitalisation of Debenhams is £527,963,524.50.
justiceforthemany: That is because these crooks suppress any good news and illegally manipulate the share price holding it down for as long as possible until they release the clamp. FCA say they are 'aware' and 'are investigating' but don't hold your breath! Sports Direct is up 12% today - yes TWELVE percent on announcing a 60% fall in profits (due in part to bad hedging) but then they only had 3% shorts. Debenhams will NOT be announcing a fall anywhere near 60% so on that basis we should be up 20% today! Deb are up <1%. Total BS.
kazoom: just my thoughts on this f.i.m. Yes all of the shorts at sometime in the future have to close (excepting liquidation) thereby create a pool of future buyers. BUT, I think people underestimate the patience of the those taking short positions and their strategy. So called "hedge funds" seek to make gains whether the markets are rising or falling and one way of doing this is "pair trading". They might (just for a hypothetical example) be short DEB and long MKS - it then doesn't matter to them whether DEB go up or down; so long as MKS performs better than DEB they are in the money. In the current state of affairs though it's entirely possible they might be short most of the retail sector and balancing this with another sector entirely (maybe banking, resources, whatever). So it really doesn't, imho, make too much sense to assume that the shorts closing create a coiled spring effect - if when the do offload it could be over a very extended period. On the other hand some people seem to forward the argument that the shorts depress the price. Well certainly at the time they are opened, the create a "sell" that obviously depresses the price somewhat, but once that is done, they are entirely passive. The finally there is the argument that the level of short interest tells you what "the smart money" thinks. There's undoubtedly some truth in this (look at Carrilion for example where there has been substantial short interest for over 2 years), but the smart money isn't always as smart as you would think (and in fact as above, the objective may not be quite what you think), I've certainly made money on shares with a significant short interest in the past. Morrisons (MRW) from 2014 is quite a good recent example where the share price has risen almost in step with the rising short interest. compare with hTtp:// (sorry can't seem to embed that as an image)
kazoom: Personally I disagree about short selling. Certainly in extreme crises it can exacerbate momentum and undermine confidence. But in the normal run of things it's just a 'player' taking an opposite view. If it were the case that shorting is the only reason the Deb share price is as low as it is. (IE it is an 'artificial' price) then all that would do would be to great a brilliant buying opportunity which would generate great returns once the future outturns prove the case. In truth jftm should be celebrating the shorters for producing this great opportunity. For me, I think that in the emerging retail slowdown Deb will not go bust (probably) and that therefore in the fullness of time (maybe a couple of years) this will prove to be a bargain price. In the meantime though I think that things will get worse for retailers and there will probably be bigger bargains still to come. Other than extra special situations, I don't expect to be buying into any retailers until 2018.
simon templar qc: To be perfectly honest guys the company performed slightly better than I expected however the economy is still set to deteriorate. So my price target of yesterday of 39-42 range bang on for the time being. I see a bobbing around at this level for some time then if we see a share price less than 40 for a few days the market worsening. The minute the share price falls to the mid 30 level the signs are the company heading for deep trouble. My gut feeling is there will be a further profit warning in the Autumn nearer results. edit: [...] Squeeze on consumers is likely to get worse before it starts to ease Howard Archer, chief economic advisor to the EY ITEM Club, said: “The squeeze on consumers is likely to get worse before it starts to ease.” Archer added: There is some support for consumer spending coming from current decent employment growth, but it is questionable if this can continue in the face of weakened UK economic activity, increasing business uncertainty and concerns over the UK’s economic outlook.” In contrast to Carpetright, Debenhams saw its shares fall by nearly 3% as the department stores operator’s third quarter sales decline disappointed investors and it warned full-year profits could be at the lower end of estimates if current volatile market conditions on the high street continues. READ: Debenhams cautions over 'current market volatility' on the high street Sergio Bucher, Debenhams CEO, who took over in October, said: "As industry data has confirmed, May was a tough month for retailers and we continue to see volatility in trading week to week.” He added: “As a result we are focused on delivering cost control and self-help through our ‘Fix the Basics’ plan.” Task for Debenhams boss looks more difficult George Salmon, equity analyst at Hargreaves Lansdown said: “After choosing to leave his position at the top of Amazon’s European fashion division to take over as CEO at Debenhams, we can assume Sergio Bucher likes a challenge. However, the task in front of him now looks all the more difficult.” The analysts added: “Recent figures from the ONS show sales volumes in the retail industry are growing at their lowest level for 4 years, and Debenhams is feeling the pinch. Trends in its key sales metrics have gone into reverse in recent weeks.” There was some good news for Debenhams from strong digital sales growth, up 7.9% for the 15 week period to June 17 , and 12.6% for the 41 weeks to the same date, driven by mobile demand which was up 47% year-on-year. Salmon pointed out: “The new CEO’s strategy, namely to improve the online offering, declutter the stores and step up the quality of the in-store service, seems sensible. “However, Debenhams has struggled for years. Particularly in these difficult times, we feel investors should remember that it's one thing to correctly diagnose the problem and quite another to successfully apply the cure.”
simon templar qc: Just so posters can see I am not being biased Marks set to post lower profits. Margins are higher than Debenhams however... HTTP:// Operating forecast margin Marks 5.4% Operating forecast margin Debenhams 3.5% One doesn't have to be clever to realise why Debenhams is on a lower pe ratio. There is always a reason for a bombed out share price and a downward trend. edit: Whatever Marks say is bound to affect the sector, I would have waited a bit longer to see how things were panning out before I recommended investing. In the meantime Debenhams Sale still on HTTP:// Marks Sale off HTTP:// Sales may keep consumers shopping but at a cost to retailers margins. Monsoon reports fall in sales and profits HTTPs:// Will Debenhams warn in next 6 months? I think they will warn on or before Final results. River Island Looks Amazing HTTP://
simon templar qc: Its going to be interesting how this pans out. NEXT warns and latest weekly figures show John Lewis indications of like for like falling. Marks have managed to carry on lately with less sales and some hard hitting appointments at the top. With consumer debt increasing and price pressures increasing someone is surely to suffer. I happen to think on balance Marks will survive better than the rest even though the clothes have suffered badly for years. They are able to convert some of their shelf space into food. NEXT looks like its fantastic run could be running out of steam. John Lewis has got quite a good loyal customer base but still losing like for like but not got the amount of stores Debenhams have. Its a difficult call but one of the lower three, NEXT Debenhams JL could suffer badly. Current share price managing to bob around the current level and could do so for a bit longer. If Debenhams does warn of further fall in sales the share price will fall below 50 pence. If not it could recover 10 pence or so.
edmundshaw: I don't wish to be unkind, but there seem to be a lot of - how can I put it? - misunderstandings with accounts and intangibles here. To be clear, amortization happens and is normal (good), and writedowns are not happening (which is also good - it means those intangibles are still regarded as correctly valued). Basic EPS is 5.8p per share. For H1. As margins are expected to contract further next year, we might get 5.5p. Again for the first half. For the last full year it was 7p for the full year, so we may be looking at around 6.5p this year (except that our currency hedging is rather good, so there is room for a small upside surprise on that basis). A PER of around 8, basic at a share price of 53p. Yield is around 6.5%. There is a pension surplus. Debt is low and dropping (0.9x EBITDA) Cash flow per share is higher than earnings. Just to simplifiy a bit, profit is £87.8m, amortisation was £55M. A couple of other exceptionals added to £(14)m. So underlying earnings look around £129m. Using my guesstimate of 6.5p for the full year, and adding back amortization and subtracting other notable exceptionals, I get a cash flow per share of around 9.5p for the full year. If this represents underlying EPS, we would be on an underlying PER of around 5.6 at the current share pricxe of 53p. Of course this is pre-Capex, and capex is an unavoidable part of the business, particularly during the transformation stages we are going through. Later, this may well drop. Now a PER (adjusted, pre capex) of 5.6 is cheap, so why? Because earnings have been slowly dropping over the last couple of years, and people worry the retail shopper will get more cautious in the near future. Plus there is no sense yet of any optimism from the new leadership here. I am not even mentioning improvements down to reduced warehousing, nor the growing and successful international sales. My estimation is that if Debenhams soldiers on in the same old way, it will decline slowly, but in the meantime is a good cash cow, and worth at least the current share price, medium term, all things being equal. But if the re-invention succeeds to any degree, the share price could well be worth double. And in the meantime there is a very affordable 6.5% yield, which is several times more than I could get on a savings account.
edmundshaw: Debenhams boost from long forex forward hedging should help them this year compared to JL and others with a shorter hedging policy. I have no great opinion about whose shops the customers prefer at the moment, but I feel the (albeit slow) improvement in online sales, the balanced sales across the age groups and a good reputation should keep Debs trading OK. Worth repeating Xmas period trading?: Financial Highlights · Group gross transaction value +3.7%; Group like-for-like sales as reported +3.5% · Group like-for-like sales in constant currency +0.5%, including UK LFL +1.0% · Online sales +13.9%, with two year growth of over 25% · Gross margin of (25bps) to +25bps, sales mix continues to be dilutive · Good performance in the 7 week Christmas period to 7th January: - LFL sales +5.0%, +1.7% in constant currency - Online sales +17.0% Last year, Underlying EPS was 7.5p. Following good cash generation, net debt reduced by £40.8m to £279m. Net debt/EBITDA at 1.2x. Full year dividend up to 3.425p per share (so yield at 54p is 6.3%, covered 2.2 times. Don't see any reason to sell at these levels. Recovery represents good upside with a nice income while waiting, while downside seems limited at a PER of 7.2 which is pricing in some serious drops in performance already. A well-reasoned argument as to why earnings might fall off a cliff and the share price with them should fall further would be of interest. (Chart-based magic numbers do not count.)
walbrock82: Simon, I agreed with you up to a certain point, which is why I gave a share price guidance for DEBENHAMS between 35p/share to 65p/share. I also acknowledged DEB been VERY SLOW in developing their online division (15% of T. SALES), which would eat into its cash flow. But, DEB cash earnings have held up well (been consistently the same for ten years), until cash earnings drop like a stone, then dividends won't get cut.
simon templar qc: Results out initial observations: Highlights... Financial headlines -- Gross transaction value up 1.3% to GBP2,860.1m -- Group like-for-like sales up 2.1% in constant currency, up 0.6% as reported -- Group gross margin rate maintained, with 90bps markdown improvement on last year -- Operating profit up 4.3% to GBP134.1m reflecting good cost control -- Profit before tax in line with market expectations, up 7.3% to GBP113.5m (2014: GBP105.8m(1) ) -- Basic EPS up 7.0% to 7.6p (2014: 7.1p) -- Final dividend of 2.4p per share; maintaining full year dividend of 3.4p per share -- Following strong cash generation, net debt reduced by GBP41.7m to GBP319.8m -- Current net debt/EBITDA 1.3x (2014: 1.6x), medium term leverage target improved to 0.5x from previous target of 1.0x Debenhams met market expectations but nothing sparkling. Profit up 7.3% EPS up about 7% which is showing growth faster .Sales growth poor in my opinion. Margins steady. Dividend flat. They intend to rebase dividend cover. Debt down £40+ million down, nothing there overall concerning. The company state they have had a good start to the year but, its too early imo to draw any conclusions to key Christmas period. So overall what do I think? With the global economy weakening Debenhams is still at risk. Part the strategy on less sales per year seems to be working but sales growth poor. Debenhmams has had a fair run lately share price strengthening the share price a discount to sector however the company is still at risk with a weakening global economy. I see no large upside to the share price at the moment, if anything the share price could weaken. CEO to go! That suggests to me his is going while things are just about OK which will give him a nice golden handshake. Have seen this before CEO goes and things weaken later on! A long line of management changes in retail sector the last one at John Lewis. Argos gave a profit warning very recently! So there we are folks nothing sparkling and nothing overly worrying my overall take is share price could weaken I would be likely to take profits at the current price if I held, which I don't as the company is still at risk of further downside at the moment.
Debenhams share price data is direct from the London Stock Exchange
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