|Land Of Leather Holdings
||EPS - Basic
||Market Cap (m)
Real-Time news about Land OF Leather (London Stock Exchange): 0 recent articles
|loganair: LAN only has £2.4m spare cash, not enough ot pay for the next 3 months rent and why has asked to pay rents on a monthly basis.
"The company is debt-free but £4.5m of its capital of £6.9m is held by its banker, Barclays, as insurance against having to repay credit card payments if goes bust.
A company insider said any attempt to buy Land of Leather at its current share price would be "opportunistic".|
You must be pulling everyones chain surely even by the standards of the regular muppets on ADVFN!!!
What rise? LOL!!!
They had a 10 for 1 consolidation and the share price is now only 28.75p mid as I type which means they are even lower than before the consolidation!!! LOL!!
LOL!! DFS are not in the same league! LOL!!
I need an ambulance PDQ I think I am about to be the first man to die whilst LOL!!!!!!!!!!!!!!|
|judgement: All the doom sayers have gone quiet. Nothing like a 10x rise in the share price to keep 'em quiet.
Perfect weather for it.|
|bethany3: If funding goes according to plan no reason why Lan can't trade out of trouble. Companies like Ashstead,Atkins and Invensy to name 3 with huge debts and a declining market managed to be nurse back to good health. Lan,no debt still making a profit with loyal long term backers will do so. Banks thro' their herd mentality suffered huge losses in America are now being over cautious with their business strategy evidently demonstrated in their mortgage lending. Introducing fabric to their range can only be a positive move to bring in more potential customers. Lan's share price has been over done and the probable demise of of its main rival gives Lan a better chance.|
|csmwssk1: want something funny
at the bottom it has a share price calculator, work out the value of your holding, put in one share and wait for answer|
|judgement: The share price of this company has been droping more than I expected.
I am becoming increasingly suspicious that something is amiss. Does anyone else share that concern?|
|typo56: Judgement, it's 5p per share in today's money.
Any fool can get the share price up with a consolidation!|
|judgement: This is a management team team that can get the share price up, and deliver on promises. They said £10m at year end, and on top of that it looks like they're going to manage 50p per share.|
|gluefactory: £16k of trades has added £4million to the company value! Watch out for this weeks LAN sale.50% off the share price!|
|m.t.glass: a b it more detail added in this mid-morning update - including a downgrade by the company's own broker -
Land of Leather sales continue to slump UPDATE
(Recasts, add detail)
LONDON (Thomson Financial) - Land of Leather Holdings Plc, the troubled sofa
retailer, has reported a further slump in sales and cautioned it does not expect
any respite this year, sending its battered share price to a record low.
The group, which has issued a string of profit warnings, said total sales
orders were down 24.7 percent over the 13 weeks to April 27 (its third quarter)
and were down 32.1 percent on a like-for-like basis, which strips out the impact
of new space.
For the cumulative 39 weeks to April 27 total sales orders were down 9.8
percent, with like-for-like sales orders down 20.7 percent.
Investec Securities, the retailer's joint house broker, cut its year to July
31, 2008 pretax profit forecast from 4.5 million pounds to 3.0 million pounds
and its target price from 50 pence to 45 pence. But it retained its 'hold'
At 10.38 a.m. the stock was down 1/2 pence at 48-1/2 pence, having earlier
hit a record low of 41 pence, valuing the business at just 23.8 million pounds.
The stock has lost more than 80 percent of its value over the last year. It
floated at 149 pence in 2005.
Land of Leather blamed the slump on market conditions that have remained
"challenging", the result of increasing demands on consumers' disposable income
and the continuing credit crunch.
"The third quarter results show a 32 percent decline over a two year period
which we estimate is in line with the reduction in the market in that period,"
"The board expects market conditions to be challenging for the remainder of
2008, and particularly in the final quarter of the financial year where trading
is against strong comparatives, but remains confident in the business' ability
to increase profits quickly when consumer confidence returns."
The retailer opened one new store in the quarter but has halted further
openings until market conditions improve.
Management is focusing on delivering cost efficiencies commensurate with
lower activity levels and on conserving cash. Advertising has been cut back and
discretionary spend significantly reduced.
So far operating costs have been reduced by about 11 million pounds on an
Meanwhile, the group has agreed a 2 million pounds a year concession deal
with Homestyle, part of Steinhoff International Holdings.
Homestyle's Bensons, Sleepmasters and The Bed Shed will take up space in 28
Land of Leather stores previously occupied by The Sleep Depot, which fell into
administration last month.|
Land Of Leather share price data is direct from the London Stock Exchange