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During the recent investor discussions surrounding B&M European Value Retail S.A. (BME), there was both cautious optimism and skepticism regarding the company’s performance and future prospects. A significant focus was the company's recent profit forecast revisions, with EBITDA expected to drop from previous estimates of £630-650 million to a new range of £605-625 million. Investors highlighted the risks posed by declining like-for-like sales (lfls) and mounting cost pressures, raising doubts about the sustainability of B&M’s expansion strategy. As one investor noted, “A company with a rosy 6-12 months ahead has no reason to 'retire' its CEO," reflecting concerns about leadership decisions amid the downturn.
Broker sentiment was mixed, with price target adjustments reflecting varying expectations: Canaccord maintained a buy with a target of £495, while Goldman Sachs significantly cut their target from £430 to £310, indicating a bearish outlook. Despite the challenges, many investors saw potential value at current share prices. Comments like "I am happy to hold/buy at these prices" and the hope for a “100% gain from here, roughly... 80% from share price rise 20% from dividends” underscored a readiness among some to capitalize on what they perceive as undervaluation. Overall, while there was recognition of the negative market sentiment and pressures, a contingent of investors remained optimistic about B&M’s long-term viability and profitability amidst ongoing challenges.
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B&M European Value Retail S.A. is facing significant changes within its leadership and financial outlook as it prepares for a challenging economic environment. The company announced that Chief Executive Officer Alex Russo will depart from his role at the end of April 2025, a decision deemed both a "loss" and "inevitable" following the firm's revised profit guidance. The adjustment reflects a broader context of fluctuating market conditions, with B&M citing "current trading" and an "uncertain economy" as factors influencing its financial performance.
In light of these changes, B&M has lowered its profit expectations for the year, attributing the shift to adverse currency movements that are anticipated to impact both stock and creditor balances. Stakeholders are awaiting a post-close trading update scheduled for the end of April, which is expected to provide further clarity on the firm's performance and strategic direction amidst ongoing challenges in the retail sector.
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Brexit could have been good, should have been good, but politicians didn't want it and wasted the opportunities.Truss only trashed the economy by ineptness that brought forward trends already in place. Interest rates were going up anyway. It was the unawareness of pension funds and gilt holdings that resulted in pushing rates up faster. Unfortunately this gave Labour the opportunity to say that the economy was trashed.Sunak recognised that immigration was the big issue but then didn't back Braverman and Jenrick to push on and sort it. He should just have ignored ECHR - in the same situation the French would have. Ruanda may not have been ideal but I believe it would have had an impact. This let Labour have a field day. And they look as though they are hopeless. |
The party of the "working people" has been contacted by retailers for the great help they provided for the economy. |
Not my New Labour government and I think, if one digs deeply into the data, they got 'voted' in' be less than 18% of the populous who were eligible to vote. |
people make the mistake of thinking that when things are $h1t that they can only get better. thats a mistake that either uneducated or inexperienced folks make. your new labour gov is about to reaffirm the fact that things often go from $h1t to worse. |
lennonsalive , |
Low of the year but based in Luxembourg. |
Already in I think. |
Dividends are now telling an interesting little story. The last 3 divis within this last year (15/12/23 5.1p, 9/2/24 20p special, 2/8/24 9.6p)gives a return of 34.7p. |
Sadly we have a socialist government so nothing surprises me when it comes to stifling and crushing growth |
Seems extremely oversold now with a PE of 1012 month RSI now 19Dividend Yield 10%I'm so tempted to top up soon once the one stops falling but it's already 3.5% of my total investments. |
What do readers make of the 10.8million shares bought (?) at 374p, late yesterday? Just a misprint, although A J Bell have yesterday's closing & today's opening prices both above 370p ? |
Will retailers will be looking at making savings via efficiency's, redundancy or passing on costs to the consumers. |
yes, dreadful looking chart and every mini intra day rally attracts sellers and then goes lower . Wonder what today will bring and chartwise it might be heading for about 300 area WHERE SOME support. |
I reluctantly sold both BME and Dunelm a while ago. The reason? Fears that Chinese Company TEMU will do to both of them what SHEIN did to BOO and ASOS. I.e they way undercut the prices ASOS and BOO we’re charging. And to think SHEIN is likely to ipo on the UK market! |
Yeah wouldn't advise anyone else get in. Reckon I'm diversified enough and got a long enough time horizon to be ok... a lot of uk supermarkets are being hit by the budget. |
well jesse livermore did say one of the key things to avoid was buying shares that are going down. it seems to be one of these cases where there may be a lot to hang your hat on but technically these look awful. |
Didn't see any issues. Increased position about 25%. |
I wouldn't have thought that the scale of this morning's issue announcement would explain the drop - but the drop began 2.45pm Friday anyway. And even if that was due to a US leak of today's info the effect seems disproportionate. So is it something else altogether? |
Earning guidance upped from last year, dividend payouts increased to 40-50 in last weeks statement. |
In a way it's comforting to know I'm not the only one to be baffled, but I'd rather understand what is driving the share price Clearly the market does not have confidence in the company but I want to understand why not.Is it the debt? Doesn't appear excessive in any way to me.Is it Russo? He doesn't seem to be a warm character but he seems to be clear on how he is driving the company. So is it his vision that investors don't like.Or is it shorter that have spooked the market - in which case a rebound should occur in the near future.I would really like to get to the bottom of what's going on. But I have the feeling that this won't be clear until the next year or two has played out and it becomes clear that either Russo has it right or it becomes evident what he has been doing wrong. |
Don't know where you saw that seemed to be flatish the day it was announced last year, then rose for the next 6 weeks. |
As for the drop today today it dropped last November when they announced a bond raise. But they had to refinance the 2025 bonds. |
B&M European led the laggers, losing 2.4%. |
I started following BME at the beginning of this year and have been puzzled by the share price movement ever since. On the face of it the company seems to be doing well, or am I just beguiled by Russo's spartan oration.But this latest drop is quicker than the previous reactions to trading news, so something is clearly amiss, but I don't know what.I am always willing to learn, and this seems like an excellent case to focus on.Is it that the plans are too grand that is worrying investors; opening so many new stores, a huge new distribution centre on the way, are these signs of overextension?Is it that the stores can only provide so much profit each and once they reach that ceiling the only route to growth is more stores until that hits a ceiling too?Maybe Russo's trick is to focus purely on price/value for now, then switch to building margins once he has increased the retail base.It will be interesting to watch and learn, though I wish there was more info and analysis that I could access. |
Type | Ordinary Share |
Share ISIN | LU1072616219 |
Sector | Misc Retail Stores, Nec |
Bid Price | 284.50 |
Offer Price | 284.80 |
Open | 283.00 |
Shares Traded | 354,656 |
Last Trade | 09:31:56 |
Low - High | 280.60 - 285.70 |
Turnover | 5.48B |
Profit | 367M |
EPS - Basic | 0.3656 |
PE Ratio | 7.70 |
Market Cap | 2.87B |
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