French Connection Dividends - FCCN

French Connection Dividends - FCCN

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Stock Name Stock Symbol Market Stock Type
French Connection Group Plc FCCN London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 29.55 01:00:00
Open Price Low Price High Price Close Price Previous Close
29.55 29.55
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Industry Sector

French Connection FCCN Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount

Top Dividend Posts

sleepy: Galles - the share sales are also by Singer Capital - presumably their market making division - who have to make an announcement as they have some connection with the people bidding for FCCN
sleepy: The share purchases are by Singer Capital - presumably their market making division - who have to make an announcement as they have some connection with the people bidding for FCCN
rainmaker: If you can buy French Connection(FCCN) at the right level to cover your trading costs(remember there will be no selling costs) then its like a free call option with an interest payment. If there is a competing bid then you make a lot of money but if one doesn't materialise then you get your money back on 22 November 2021 with more interest than you would receive for holding it on deposit. Effectively you are investing in a risk free trade. regards AIMHO, DYOR as I have done mine.
boonkoh: 30p..! That would be daylight robbery.Don't forget earlier this year there were 3 other bidders circling. They might appear out of the woodwork now. Strong likelihood that we'll get a counterbid, so I would sit tight unless the share price is like 35-40p.On an underlying valuation level I'll be disappointed to have to sell my FCCN below 50-60p, which I think can be achieved in the next 12 months.
boonkoh: Nothing I can see. But you never know with FCCN in play for a bid... Just some clumsy buying?
boonkoh: Potentially trading statement to come ned of this month.Retail sales May and June have been strong. Plus sales of dresses and socialwear particularly strong, which is a staple for FCCN.Sofa sales still strong via DFS.USA sales strong too.So can't see any major shocks to come in the first few months of trading.
rainmaker: For anyone holding or has an interest, fashion retailer, French Connection(FCCN), 18.70p/18.85p currently subject to bid interest from three separate parties are due a trading statement this month. Last years was on 24/7/2020. You would think that current trading would be good, April's retail sales were the best since August last year. A constant stream of selling from impatient holders has kept the share price under pressure. IMHO a bid was never going to come quickly, the CEO, founder and 41% shareholder apparently rejected a 42p a share last January and he obviously, and very reasonably wants a lot more. I calculate French Connection's intrinsic value to be circa 120p a share(its not that difficult to work out) and of course no one will pay anything like that in the current economic climate and with FC's current trading performance unless someone makes a move and they go into play. FC have a valuable brand and IMHO is worth a great deal more than the current share price-just ask DFS. AIMHO, DYOR as I have done mine. regards
boonkoh: DFS trading update today: "In a trading update on Thursday, DFS said its order intake over the past ten weeks was 92 per cent higher than in the same period in 2019."Good for FCCN, licensing income from DFS must have been robust.
kinwah: Thomstar, I always blame algorithmic trading for these silly little trades of a few shares however it does look especially odd in FCCN today. If I was to speculate I think tomorrow could bring some more detailed news about the bid talks. That Apinder guy who bought Ashley's stock has probably had a chat with Marks by now so might be putting himself forward as another serious bidder. Marks may well want to sell his shareholding before 5th April depending on what is in the budget to take advantage of the 10% rate of tax with Entrepreneur's Relief. I sense things will happen quickly this time round with the bid discussions.
lomcovaks: Joules, Paul covered the HoF situation in his daily small cap report of the 14th August. hxxps:// I know he occasionally reads these boards so I do hope that he won't mind my copy and pasting the relevant section here for the interest of members who may not subscribe to the Stockopedia article. It's free and a wonderful resource for investors:- French Connection (LON:FCCN) Share price: 48.1p (+0.4%) No. of shares: 96 million Market cap: £46 million A brief comment from me on the situation re French Connection (LON:FCCN) and its exposure to House of Fraser. This has been a known issue for some time, for people who understand the business. FCCN has concessions (a store within a store) in department stores, including House of Fraser. These are typically small operations, with minimal staff and little stock. The way concessions work is that all sales are "banked" through House of Fraser's EPoS system. HoF then sits on the money for, I am told, about 2.5 months. As HoF has been on the brink of going bust for some time, it was worth working out the potential liability to FCCN. Thankfully, a retail FD friend of mine worked out the figures some time ago. He reckoned there was a potential bad debt to FCCN of about £2m (probably less), if/when HoF went bust. Since HoF went into Administration, then that crystallises the loss for FCCN and other concessions. Mike Ashley would not be paying those debts as part of his acquisition, as pre-Administration trade payables are unsecured creditors, hence usually are paid nothing in this type of insolvency. How is the £2m estimated bad debt for FCCN worked out? Estimated 40 concession sites within HoF stores. Estimated annual turnover per concession of £200k Giving £8m estimated annual revenues for FCCN from its HoF concessions. Assume the bad debt is perhaps 3 months takings, arriving at an estimate of £2m bad debt for FCCN. That's not material, since FCCN has a market cap about £46m, and has substantial net cash - so it can afford to write off a £2m bad debt without any consequences. FCCN will also have to write-off fixtures & fittings related to its HoF concessions, or at least the ones that are to be closed. This again will not be material, and is non-cash, so not a problem. The inventories within HoF stores remain FCCN's property, and if necessary can be moved to other FCCN sites, so there should not be any write-offs relating to inventories. Going forwards, this might prove a nice opportunity for FCCN to accelerate the reduction of its heavily loss-making retail division. So I feel that, once the dust has settled, the market might actually see this as a positive. To reiterate, the sooner the FCCN retail stores are closed, the better, as they lose money hand over fist! The value in the business is the profitable wholesale & brand licensing divisions. It amazes me that this is so obvious, yet "the market" seems oblivious to it. There was a takeover approach last year, which must have been serious, since the board apparently spent several months assessing it & allowed the potential acquirer to do due diligence. It's only a matter of time before the business is sold, because the founder/chairman is into his 70's now, and must be looking for an eventual exit (otherwise he wouldn't have engaged with the potential acquirer last year). I've worked out that FCCN has several stores which are literally black holes for cash, in terms of losses. The leases on these should soon expire. That means that profitability should make a step change upwards. That's what's interesting about this cash-rich company. The brand is still very valuable, and I'm hoping for an eventual payout here of 100-200p, on a trade sale. This special situation is certainly one for patient investors only! I'll be insufferable when the payday does finally come, lol! The recent share price softness, presumably on worries over HoF, looks overdone to me, so if it goes much lower, I'll be topping up. But it's already one of my biggest long positions, so maybe it's not wise to tie up too much cash in this one? I imagine there is likely to be an RNS from FCCN very soon, detailing the cash losses due to HoF insolvency. It should also give us some detail on the non-cash write-offs (e.g. F&F), plus an update on what's happening going forwards. I imagine this is likely to say that some HoF concessions will continue, but some will be closed. They'll obviously only keep the profitable ones, and this is a nice opportunity for FCCN to re-negotiate terms with Mike Ashley, on a take it or leave it basis (giving him a taste of his own medicine!). Therefore FCCN should emerge with a more profitable concessions operation after this process has been completed. Hence I'm rather looking at this as glass half full, rather than glass half empty.
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