Indeed. At 400k per day buys which looks like close to total daily turnover recently nothing can wrong (probably) |
70m buy back programme announced from now until results day expected 8th December. This should put a line under SP |
look where it was pre-Covid probably the only retailer still up |
Apparently Frasers are looking at Asos, Matalan, MySale if you believe the Daily Mail and others. Frasers is a great bet on tough times as model is to operate a tight ship. If Company buys more distressed companies then they will buy at lowest price ask the MYSale shareholders. That's the price of running out of cash.In 2 years those companies will be turned around as confidence returns. 15 pounds is the target for Senior executives and 500m profit. Will they do it. We will see but I'm not selling. |
Awful retail figures. |
How much lower can this go??? |
Mike Ashley has been very good at trading in Frasers/ Sportsdirect shares in the past. |
The current share buyback is set at an average of £7
After the stellar recent results the shares have settled just below £9 so there have been no buybacks
I await an RNS with a new buyback but suspect Mike is cannily waiting to see where the shares go, I know I would if I was him |
My understanding is that there are 3 significant price points for the shares to achieve for the staff & management to get their bonus shares
£10 for Fearless 1000
£12 for the CFO Chris Wooten
£15 for young Michael
Each of these must be achieved for a consecutive 30 days for the scheme to pay out |
Mike Murray's and Chris Wootens deals are 15 pounds a share and they are then even more wealthy men. I would expect a retrace but onwards to 15 pounds. The reason company holds costs is that most new acquisitions are re contracted one step at a time to Frasers Group systems and staff to Frasers group terms. Costs based on wages around Shirebrook. Not in fancy HQ in the City. Outcome greater value for shareholders. Culture built by Mike Ashley and family risks taken but money not wasted. He's a one off and clearly trusts Mike Murray to keep the journey rolling. Nice day yesterday. |
The mid point of current upgraded guidance is £475 million which leads to EPS of 76p so at 950 Frasers trades at 12.6. Anyone confirm? |
obviously very happy with the rise but how the hell have they not been held back by all the rising costs that others are reporting - maybe it shows how poor management is elsewhere ? |
Say what you want about fat Mike, the city boys hate him but what he doesn't know about the rag trade isn't worth knowing. Well done Mike, when's the knighthood coming? Anyone remember these at 28p? Great example for the buy and hold investor. |
they beat guidance by 6%. wtf is the cause to the share price spike?!! |
When i read the son-in-law was on a share price performance related long term bonus scheme for an obscene amount of millions of pounds i purchased some in my SIPP for six pounds something waiting for the inevitable doubling of the share price...... just needs patience |
Good forward statement helped a lot as well.
A really well run business that knows how to build on the back of quality brands. |
hell of a good hike today, i thought the numbers were very good but share price reaction has still surprised |
Place your bets ladies and gentlemen. After upbeat JD update. I am expected same from Frasers group. Lots of share buy backs, lots of looking at taking over struggling businesses. Money tight is perfect for Sports Direct, kids still living at home good for Flannels, Evans and Sofa.com should have had bumper years last year, though this year up against those bumper figures. US operation disposed of. Closing unprofitable House of Frasers. Plenty of cash for more. 10 pounds is coming. We will know tomorrow but expecting upbeat but with a bit of caution.Oh and World Cup in December should be a boom year. |
What an absolute load of old tosh in the Daily Telegraph.
Firstly I SAW IT FIRST is not owned by or part of Boohoo PLC, so even if these "rumours" were true (which I doubt very much anyway), why would Mike Ashley climb into bed with Jalal Kamani ??? It makes no sense at all.
I SAW IT FIRST was tarnished when it was linked to Morefray Ltd which was part of the Boohoo Slave Labour Supplier Scandal in Leicester.
It's more likely that Jalal Kamani spoke to Mahmud Kamani and said:
"Brother, I want out, so can Boohoo PLC buy I SAW IT FIRST and pay me silly money for the business".
. |
 The I Saw It First clothing business is a major rival to Boohoo PLC that just happens to be owned by Jalal Kamani, (Mahmud Kamani's older brother).
According to the Guardian newspaper, Jalal Kamani has a very dodgy business history, allegedly with links to Slave Labour and to money laudering.
Jalal Kamani has links to the Leicester factory accused of paying workers less than the National Minimum Wage and which failed to protect its workers from coronavirus
Previously Boohoo PLC confirmed that the factory at the heart of the Leicester Slave Labour allegations is run by Morefray Ltd, a firm with ties to the separate I Saw It First fashion brand.
A report in the Sunday Times discovered that workers at one of Boohoo's main suppliers were being paid less than National Minimum Wage and did not have masks to protect them against coronavirus.
An undercover journalist working at the Morefray factory was told to expect pay of just £3.50 per hour, substantially BELOW the UK's National Minimum Wage for workers over-25 years old. |
Fully expecting Mike Ashley to issue an OFFICIAL denial via the London Stock Exchange's Regulatory News Service, to counter weekend newspaper gossip linking Frasers with the purchase of I SAW IT FIRST owned by Jalal Kamani. |
I suspect because of the 10 pound promised incentive to staff. If share price hits 10 pounds there will be something like a 100 million giveaway. That added to more 25m of shares for Mike Murray and Chris Wotten if Sp hits 15 pounds. It's managed so the company will already have those shares.Shares are being bought at £6.50 on anticipation that they will be worth £10.00. When employees receive some will sell. I would expect company to offer to buy back off them at a better trading rate. They then may be cancelled. Who knows with recent purchases the company is clearly in full flow and very cash generative. I suspect the company wants to be in the footsie. Recognition of a life's work.I am holding for next 2-3 years to see how pans out |
So this buyback isn’t even cancelling the shares. Why? |
25 % drop ASOS and 15% drop Boohoo ouch. Has reality finally caught up with kids supported (indulged) by mum and dad. |
Register for real-time alerts, custom portfolio, and market movers
Hot Features
Premium
