Games Workshop Share Discussion Threads

[2lb] 14/4/2016 13:44

I think the single person approach is totally counter-productive. Relying far too much on the goodwill and passion of that individual, who is not that well paid, to run the coal face of the operation.

Still don't understand why the big NEC type events were stopped - great interest generator and sales channel.

Problem now is the cost focus of promoting the accountant to CEO rather than the sales and growth focus of a external appointment.

Unless things improve markedly over the remainder of 2016 I don't see how the management status quo can be maintained.

Such great potential here but so reluctant to try anything new and innovative.....

[essentialinvestor] 14/4/2016 08:28

As mentioned it is whether the single person store format can drive
sales growth, they appear to be near the end of what they can do on costs IMV.

[leonasdad] 03/4/2016 19:42

More demand here if alcohol is allowed
hxxps://youtu.be/sRPKgBo0vqo

[luckymouse] 03/4/2016 16:56

potential demand zone here - but soooo many red candles - being shorted?

[woozle1] 30/3/2016 15:04

I'm surprised by the weakness as the FX is now in their favour as £ depreciates against € and $. Also fall in oil price should feed through into a fall in plastic prices.
W
PS
My son says that Kingston store is doing well.

[argylerich] 29/3/2016 12:40

Well even if the profits come in at below £16m, with nearly £8m in the bank at the end of November and fresh cash of at least £9m generated since, should at minimum allow for another 20p divi in May/June. Potentially they could pay up to 26p and still keep the £8m in the bank.
I can understand the drop off in price over the last few months but this should still be a safe divi payer, albeit rather erratically!

[nod] 26/3/2016 20:33

Yes, it looks that way. On 8th Jan GAW issued the following:Trading updateDecember sales were below expectations across the Group. At this stage in the Company's financial year, the Company's internal projections indicate that pre-tax profit for the year to 29 May 2016 is unlikely to exceed GBP16 million. A further update will be made when appropriate.

[argylerich] 25/3/2016 07:50

Poor December trading after the launch of the new products?

[nod] 25/3/2016 03:35

It's been a very bearish three months, falling from 620 to 490.

[nod] 11/1/2016 07:59

From a Best of 2015 blogIt sees the good and bad in the changes.Warhammer: Age of Sigmar- 2015 was a big year in the world of tabletop miniatures; even if you didn't play the game, Games Workshop made big waves when they brought their 35-year-old franchise Warhammer Fantasy to an end with a climactic bang: by destroying the world. In the wake of its conclusion, GW announced it's new game Age of Sigmar, which, although compatible with the old models, plays entirely differently from its predecessor. Naturally, fans were polarized, some even resorting to destroying their models as a show of disapproval. Despite the maddening crowd, Age of Sigmar is enjoying a new audience, and may yet still grow to rival its older brother.Oh, and I guess there was that new Star Wars movie.

[nod] 11/1/2016 00:41

By June 2013 North America was the only growing region. It was by then 20% larger than UK sales. GAW decided that rents in the USA were too high and embarked on a closure of 28 USA stores (over a third of stores) and replaced them with less expensive stores plus a lot more smaller format stores. As we know this strategy had a significant short-term impact and cost.By June 2015 North America had overtaken Continental Europe to become the largest region by revenue. Revenue was 20% larger than Europe and 25% larger than the UK.IMHO North America still represents the best growth area.

[woozle1] 10/1/2016 11:02

US retail was down and trade sales up 5% .. Doesn't sound like a US growth story to me .. One bright spot is the falling oil price, which reduces one its major input costs .. In 2015 there were supply issues in the European plastics markets, which kept the price high but these are being resolved .. Still the business really needs revenue growth and screen time is definitely GAW's biggest competitor and that doesn't look like changing anytime soon .. W

[trident5] 09/1/2016 23:31

"Store growth and the USA are where they see growth coming from".

Why do you believe this now when they cranked up their US investment a few years ago - it has not led to increased growth.

I'm not sure what you mean about whinging about price increases. The point is that if prices are going up 7% a year and turnover remains flat the volumes must be in decline. And therein lies the key risk.

[woozle1] 09/1/2016 21:32

Without the dividend this share price would be much lower. I've been in this for years and have made an excellent return but I'm still waiting for revenue growth.

[trident5] 09/1/2016 09:48

That looks a load of old baloney
I'm not sure reinstating the dividend has anything to do with being a moving part to the business.
Sales have been pretty much stagnant here for years despite apparent hefty price rises, suggesting volumes are in long term decline. I'm sure they've been looking to increase sales over this period with no luck - perhaps PH can explain how they will now achieve it.
It's a good niche business, but it's difficult to see where the growth is coming from.

[nod] 09/1/2016 00:56

Rejuvenated Games Workshop is one to watchIts figurines might be static but the war-gaming company Games Workshop (GAW) is not. While its update for the first half was a steady-as-she-goes affair with modest sales growth on a constant currency basis, there are some interesting moving parts to the business.Chief among these was the move to reinstate the dividend in 2015 after a break the previous year. There's every likelihood this should be stable given the company's principle of "returning truly surplus cash to shareholders".Also, analysts at Peel Hunt expect the company to accelerate its store opening programme and look at new avenues to increase sales. The brokerage further claims there is "significant intellectual property", given the number of games based on Warhammer being produced. The half-yearly results are expected on 12 January.IC VIEW:Currency fluctuations can be a burden for the group but, on the flip side, its restructuring is behind it. We can handle the shares' forward earnings ratio of 16, given the yield on offer. Buy at 595p.

[2lb] 08/1/2016 09:12

Possibly

I think they dropped a clanger giving the CEO job to the accountant - should have brought some fresh external perspective and drive into the business.

[2magpies] 08/1/2016 08:57

Not "broadly in line with maanagement expectations" then!

Makes a change.

Is the dividend under threat?

[nod] 19/12/2015 03:22

Debt-free dividend shares – and those under threatBy Kyle Caldwell4:31PM GMT 18 Dec 2015A host of high profile names have cut their dividends this year – we screen for shares that are bucking the trendDebt-free dividend sharesShareScope, the trading website, has applied a number of stock market filters for Telegraph Money to identify attractive stocks with apparently secure dividends. First, it screened for shares that have no debt. The argument is that such companies can afford to maintain or grow their dividends.ShareScope found 19 shares in the FTSE All Share that have zero total borrowing. It then looked at the forecast "dividend cover" of each share - the ratio of company's net income over the dividend paid to shareholders. The forecast is based on analysts' predictions of dividends for the future year.Shares that scored below 1 on this metric were then omitted from the table below, on the basis that their future divis are potentially insecure.Once this was applied, just 14 shares remained.The majority, 9 of the shares, yield a fair bit less than the average share in the FTSE 100, which currently yields 4.2pc.The top five of our list, however, yield more than this.The top payer is Laura Ashley, the home and fashion retailer. It has a forecast yield of 7.3pc.Games Workshop Group - a business which serves the thriving community of people who play war games - takes second place, yielding 5.9pc, followed by PayPoint, the ATM provider, offering 5.4pc.Mechanical stock screening is valuable, and used to some extent by most professional investors - but it does not necessarily expose other risks that could threaten a business or its future ability to pay dividends.Share______Sector____Yield Laura Ashley Retail 7.3% Games Workshop Retail 5.9% PayPoint Payment specalist 5.4% Persimmon Housebuilder 5% 888 holdings Bookmaker 4.3 %

[pas100] 25/11/2015 03:13

Santa Rally about to start here. MO

[nod] 03/10/2015 09:59

MONEY OBSERVEROctober 1, 2015 - 10:04am - Richard BeddardGAMES WORKSHOP (GAW)In full-year results for the year to June 2015, fantasy wargaming and modelling company Games Workshop reported revenue down 4 per cent. Adjusted profit fell 5 per cent.New chief executive Kevin Rountree said the fall in revenue and profit was due to adverse exchange rates and poor trading in Europe. The strong pound made exports from Nottingham, where the company makes its models, more expensive. About half of the fall in revenue was deemed 'non-core' by the company.In Europe, the company has closed its regional headquarters, removed middle management, centralised its trade sales teams at home, and continued rolling out the one-man store format, which involves shutting down larger stores and opening smaller ones carrying less stock and operating reduced opening hours.Rountree says that in the second half of the year the trade sales team, which sells to independent hobby stores, grew revenue very slightly in Europe. The company's own European stores are taking longer to adjust.Renewed impetus may also come from the newly relaunched Warhammer Fantasy game, 'Warhammer: Age of Sigmar'. The company is rebranding Games Workshop stores 'Warhammer' too.By cutting costs, Games Workshop has remained comfortably profitable. Return on capital in 2015 was 13 per cent, slightly above the six-year average. The company thinks modest growth will resume when the disruption from the restructuring abates and revenue from new stores it plans to open kicks in.A share price of 565p values the enterprise at £230 million, about 16 times adjusted profit. The earnings yield is 6 per cent.

[mozy123] 25/9/2015 12:10

Its all gravy because the licensing doesnt have any cost. Free cash flow for divis

[essentialinvestor] 24/9/2015 10:54

So you guys see the licensing income for GAW as an increasing factor
for group profitability?.

Must admit my knowledge of video games is next to none,
if that is what they are still even called )


EURO/GBP rate more helpful than over the early Summer.