Crawshaw Share Discussion Threads

[castleford tiger] 30/6/2018 12:48

sid

underlying loss was about 2 m last year and since then lfl are well down.
The cash will have gone by year end.

Still don't fancy this at all
tiger

[1iniesta] 30/6/2018 12:32

Team ???? Hasn't one of the area managers with 12+ stores just handed in his notice

[sid share] 29/6/2018 15:27

Over £40mil turnover cash in the bank no debt, new team in place that actually want it to work, give the new team 6 months and we will see this one fly. Retailers we are seeing that struggle are swimming in debt. This looks like the right team. Hold on it’s going to fly.

[playful] 29/6/2018 14:30

I’d say it’s a fair amount from his very first months wages.

[igbertsponk] 29/6/2018 14:18

Yes - a whole £2,875...
And the Company will have had to pay the LSE the RNS fee of £100 or so....

[playful] 29/6/2018 14:14

Wonderful to see our CEO joining us on the shareholder register today.

[dave4545] 28/6/2018 21:41

How did this get over 10p recently.

For double the valuation you can get shares in MRS which will make EBITDA of £6.4 million. The market is full of vastly overvalued stocks like Craw, they will be lucky if they make £500k in a year

[playful] 28/6/2018 21:39

“The butcher would throw in an extra pork chop into their bag, customers loved it! and this translated into customer loyalty and conversation down the pub, perfect marketing!”

Funnily enough I said the same thing to JV on Wednesday and he completely agreed.

I attended the AGM as usual yesterday and we had 5 shareholders including myself turnout for them. The share price was down 20%+ but you wouldn’t have thought that from the mood in the room which was very positive and got the feeling the Chairman loves a good challenge.

The Chairman read through the resolutions and all approved and we quickly moved onto questions and all answered well. They generally recognise its not going to be easy turning things around, but the new CEO comes across as a fighter and isn’t afraid of the rough and tumble of the butchery game. He has a blue transit van emblazoned with the Crawshaw branding which is a refreshing change.

They are also introducing new coffee machines into the shops with LCD displays promoting the current offers in rotation. We also have a new range of boxed sandwiches to tap into the convenience market with a wide variety of fillings.

I still think they need more help and the CEO has a daunting task ahead, but they do have options available to them and money in the bank and no debt so with a bit of good old-fashioned Yorkshire grit they could very well come through this difficult period.

The two sisters man was very supportive and said the supply agreement continues and without interruptions.

The only sad point was when leaving the building a fellow shareholder discovered his car had been stolen. Thankfully they had CCTV, so I do hope he gets it back.

[pophead] 28/6/2018 19:53

Make hay whilst the sun shines which is what should be happening now with sales. This is a perfect chance for JV to push up sales. There is a lot on JV shoulders with the honeymoon period lasting only so long. The business did well before NC and it was clear why, bargain prices, value for money and wide selection with a butcher cutting the meat in front of you and giving good customer service. Very traditional and customers loved it. When you went in the shops the butcher would do an del boy routine and customers loved it. The butcher would throw in an extra pork chop into their bag, customers loved it! and this translated into customer loyalty and conversation down the pub, perfect marketing! Forget about blaming NC. It was a bad fit and whoever recruited him and allowed his tenure for 3 years should hold some responsibility. NC stepped into the job on great salary and did his best, it did not work. Buy a pair a jeans, pay a fortune and find it does not fit then return within 28 days comes to mind! Don't keep them for 3 years then complain!

[mcmather] 28/6/2018 18:08

Power outage bolton town centre. Shop had to close 12.45ish. Stock will likely be written off but hopefully able to claim back.

[mcmather] 27/6/2018 10:00

playful, hopefully JV will do well. He has a massive challenge dealing with what NC left. I was just hoping he'd be nipping all stuff like that in the bud before it ever became a real issue and got on to pages like this.

[horndean eagle] 27/6/2018 09:42

Surprised they haven't gone down the route of putting most of the retail units into a CVA. They must be bleeding cash with lfl down 12% and that on top of what must be pretty poor figures the year before. Difficult to trust what they say about factory shops. If they are performing ok then you would assume that would be flat lfl. If that were the case then smaller units lfl must be closer to 20% down.

[playful] 27/6/2018 09:19

Give the lad a chance he has only just started.

NC was responsible for this situation and his leaving present to Shareholders on May 15 was to deliver a One Star rating on the only shop we own:

[mcmather] 27/6/2018 08:39

Group sales down -1.6% from the same period last year is the killer for me; whilst they've closed 2 poorly performing high street shops since the same period last year, they have also added 5 of the 'performing well' factory shops but group sales down??

The recent Barnsley '12 day oven fiasco' was also a poor sign for me as far as JV's tenure here is concerned.

[castleford tiger] 27/6/2018 08:09

There is a further headwind for them now.
Meat prices are up 30% this year.
Frozen at source even more.

On top of this you can hardly find anyone to supply . Many producers are closed due to lack of stock and or the CO2 issue.
I was paying 6.00 a k for Rib eye its now 12 pounds a kilo trade.
Fresh chicken has gone from 3.00 a kilo for a 5 kilo tray to £4.00 a kilo.

No south American being allowed in so processors using European.

So any fall in LFL sales should be taken in context that prices are up a great deal.
The food chain in the UK is heading for a melt down in my opinion.

Tiger

[penciles2] 27/6/2018 07:20

nothing good about these,massive loss to follow

[igbertsponk] 27/6/2018 07:12

I see they still seem able to put a positive spin on what are dreadful results. Nothing about massive BBQ meat sales over the last month?? Dire....

[playful] 27/6/2018 07:09

Group sales were at -1.6% for the first 20 weeks of the current financial year with like-for-like sales down 12.9% for the same period.

LFL numbers tell the story but this is interesting...

“We believe the majority of our high street stores are capable of generating an improved return”

[playful] 27/6/2018 06:47

Thanks to a member of the public we got him!

A nuisance drinker stole meat from a town centre butchers twice in two weeks while drunk.

[optomistic] 22/6/2018 18:01

Barnsley update...Cooker is hoped to be fixed for Monday, which will then have been 12 days out of action!

Re the Barnsley factory shop the least said about that the better...just one hint 'waste'

[playful] 22/6/2018 11:21

AGM on Wednesday is looking like the hottest day of the year so perhaps JV might setup a BBQ outside the factory shop. We can always invite McKenzie Meats to join us and it will be like the good old days again.