Dr. Martens Share Discussion Threads

[mr5k] 16/7/2024 14:52

Burberry's issues are very different from Docs. High-end consumer brands have pushed prices beyond inflation for so long that many buyers have said enough. Also, BRBY was trying to elevate the brand to Dior and Versace levels and that has not worked.

I own a BRBY trench coat that cost me £120 25 years ago (as did many colleagues where I worked). That same coat now costs £1,500. Docs pricing is not out of whack with the price of other branded boots (Blundstones (a little more), Birkenstocks (more expensive) Russell and Bromley (even more expensive) and the price points are accessible.

In terms of Asian exposure, Japan and S Korea are performing well (atm) and they closed their operations in China. BRBY is particularly exposed to the latter in terms of direct sales and London, where the duty-free sales benefit was dumped by the Tories (another Brexit benefit).

Docs problems are in the US where the brand is less well established and the market is not as deep as management anticpated.

[clocktower] 16/7/2024 12:32

Promblem is that even Burberry are suffering in Asia, and I cannot see DOCS not falling to the same fate.

All these ols takeover rumours have died, like I expected them to be, nothing more than wheeze to unload stocks by some I assume.

DYOR but look forward to the next update on sales decline.

[imjustdandy] 12/7/2024 10:08

Superdry moving to JP Jenkins platform. Says it all. This is vastly overvalued. Even Mike Ashley wouldn't be interested at 20 pence

[imjustdandy] 12/7/2024 08:19

Finished - this is on the way out

[johndoe23] 02/7/2024 15:03

Another superdry

[ny boy] 02/7/2024 14:35

Another end of the road story for British retailers. Just another dead cat bounce before breaking to fresh lows, dire and a one trick pony, who the hell wears this rubbish nowadays, fashion is very fickle and treacherous as an investment, most fashion house don’t survive with deeper pockets. Price target 0p

[clocktower] 12/6/2024 16:55

I think it is safe to short this again, as no bid looks like coming, and maybe the rumor was a scam to unload a pile of stock at a far higher value than it is really worth.

The negatives - Debt - Poor business in the USA - UK sales slow - China could soon become another Russia.

Bright Spots - Japan for now but I expect the market to change there also.

[bigbigdave] 05/6/2024 07:25

RBC RAISES DR. MARTENS PRICE TARGET TO 80 (65) PENCE - 'SECTOR PERFORM'

[imjustdandy] 04/6/2024 11:14

Will go private for 40 pence or lower

[disc0dave46] 04/6/2024 11:05

I'd say £370mManagement seem clueless IMO.

[imjustdandy] 04/6/2024 08:40

Overvalued by 500m

[johndoe23] 31/5/2024 13:09

Looks a short, however, some companies have a habit of defying the fundamentals

[kemche] 31/5/2024 09:58

Dil - great minds!

[imjustdandy] 31/5/2024 09:56

Profit warning again at JD. Next warning here at DR M sees this crumble

[dil 21] 31/5/2024 08:57

Wow kemche great minds think alike. I got tons of those on your list too.

:-)

[imjustdandy] 31/5/2024 08:32

You can buy shag loads below the offer

[imjustdandy] 31/5/2024 08:24

Basket case looking at the balance sheet. 30 is fair value. 85 is nonsense

[kemche] 30/5/2024 14:33

Just because I have invested in stellar companies like RTOP, SLYME, VRS, UKOG, RRR, CRCL, VAST, ZED, ECOB, CHLL, TOM, BIDS etc does not give you the right to laugh at me.

[viking24] 30/5/2024 13:39

Interesting comp chart Birkenstock vs Dr.Martens

[castleford tiger] 30/5/2024 13:09

what sales figure are you working on to get 300m profit?
tiger

[hamhamham1] 30/5/2024 10:15

Look at birkenstock, market cap, their sales, profits and debt.
Docs look very cheap compared.
I think them or A&F will be the types of buyer here.
I don't think many designers are asset heavy, its about their brand and its perceived value.
Anyway, whether you buy or not, that's personal choice in investing i guess.

And in section 28 of the rns, see the leases amounts, half the net debt is made up of leases, personally I don't see them as typical debt, more a cost of doing business, they got a lot of retail outlets, etc.
Net debt is just calculated by subtracting total cash and cash equiv from short and long term debt (which Inc's leases).
Net debt isn't always a good indicator of the health of a company IMO. it doesn't show the whole story.

Yes sales are down and profits are vulnerable for the next year or so, but that attracts vultures, and if not, in a couple of years all will be cool IMO with EBITDA north of £300m IMO. and EBIT north of £250m.

[castleford tiger] 30/5/2024 09:57

The 100m is an historic profit and if revenue is down 20% its likley that a loss maybe reported in the first half.

Huge increase in debt to 357 m that will be costing £25m in charges.

I cannot see a valuation of a billion based on the current outlook.

There is still about 30% of the shares with the PE company that floated this off as well.

Its going to be a hell of a task turning this round.

Market cap wants to be 300/400m maximum because the balance sheet is very light on real assets.

Not for me but a bid could save the day.

[hamhamham1] 30/5/2024 09:33

Kemche

£100m profit before tax on a bad year, basketcase? Hilarious.

So you're invested in the likes of UKOG and VAST who never make a profit and just promise jam tomorrow, both of those will suck your money up and leave you poor.
Keep it up ;)

[kemche] 30/5/2024 09:19

Still a basketcase.