Games Workshop Share Discussion Threads

[2magpies] 15/5/2014 18:00

Keep rising ? Or another leg down?

Throw that dice.......

[mozy123] 03/5/2014 16:21

slightly addicted to warhammer quest at the mo - fantastic game, might even purchase some of the in game content

[nod] 03/5/2014 05:17

Above link is to GAW's Careers page. Currently 44 vacancies in 8 different countries. 18 in USA.

This doesn't look like a company that is in decline. On the contrary.

[woozle1] 02/5/2014 17:51

There is no way they can open at that rate without compromising on staff quality. They will only open with the right people. They've done the dash for growth in the past and come unstuck in the US. This more of a slow burn.

[nod] 29/4/2014 23:17

In the last Finals GAW said the store changes were mostly related to the USA and should be completed by May 2014."Over the past decade we had accumulated several stores that didn't work out, usually because the rent was too high. We are closing these as fast as makes sense. Sometimes it is more cost effective to pay to be released from our lease and sometimes it is better to wait for the end of the lease. This is a process that is mostly restricted to North America (and the USA, not Canada) and should be largely complete by the end of the year to May 2014. "GAW also said in the FR that their goal was a net new stores of 40-50, whereas in the last Interims the reported net gain was only 7 stores in the six months, so they appear to be well behind with the new stores. "In an ideal world we would be opening 40 or 50 net new stores every year. "Hopefully GAW has made better progress in expanding the independent stores.

[trident5] 28/4/2014 21:57

2m

hopefully any sudden, sharp leg down will avoid the bowel formation.

Things could get messy.

[2magpies] 28/4/2014 19:14

Hi trident

If that is a 'bowel formation', then we know what's to come.

But we get what you mean!


Sp has risen from an intraday low of 471 (i.e. almost 100p)

Currently the RSI 14 is hovering around 70 (having recently exceeded it)

Could possibly rise further, but that may leave it vulnerable to a sudden, and sharp leg down.

(the nearest gap down is at c.450 - which was missed by just 21p during the last plunge)

Just my opinion!!

[trident5] 28/4/2014 18:24

Ollyrag - you really need the inverted test tube formation on a more medium term chart to confidently position yourself.

The other problem is that the present bowel formation is unaware that it needs to climb steeply. A prod might help.

[woozle1] 28/4/2014 17:54

I think that we will be pleasantly surprised by the results. I think we will see a dividend and that profits will not be nearly as down as people seem to think. Moreover, the disruption caused by the move to one man shops will be over and that the company should start to grow, again.

[oilyrag] 28/4/2014 17:35

For the TA Analysts out there is there such thing as a test tube formation as on the long term chart. If not then the bowl formation that is present would need to have a steep climb from here.

[nod] 27/4/2014 22:25

Woozle, it will be a problem if Kirby insists on being Acting CEO indefinitely. A sale to a large US toy maker is the most likely outcome.The time to go long was 480 rather than 570. There has been no news in that period, so the rise has just been a readjustment from what looked like an oversold position. Without positive news I can't see GAW going above 600 and it may drift lower over the summer.

[woozle1] 27/4/2014 19:27

Kirby is in his mid 60s and I understand that he wants to retire but, at the same time, he wants to leave the Hobby in the right hands. This may well prove problematic!

[shroder] 27/4/2014 10:02

so 2magpies, you spent all of that time talking the stock down and now your long?

[2magpies] 24/4/2014 12:08

And still it creeps up.

[2magpies] 17/4/2014 18:44

creeping up bit by bit.

[nod] 14/4/2014 20:13

Trident, it was very clear from Kirby's language and justifications that GAW was not looking for a CEO and that his dual role would last indefinitely. They have never pretended to look for a CEO.

[trident5] 14/4/2014 20:06

2M - I've never considered GAW a takeover target, for two reasons. 1. It's a very niche business that I can't see fitting in with another company - no synergies to glean. 2. I do think the senior management have to be very committed to the history of the business and its products - I don't see outsiders bringing that in. Nod has picked up the "one man band" issue which I hadn't properly appreciated an think needs addressing but I am sure TK knows would be hard to replace from outside the business.

[trident5] 14/4/2014 18:05

Nod

thanks for the link - it does refer to TK as "acting CEO" so clearly it's not being viewed as a permanent position, and you wouldn't want to hurry finding the right person.

But, its being going on for over a year and that's too long.

2M - I'm not sure what you're reading into the gaps. The share price movement on this stock is generally fairly quiet - the gaps are just reactions to trading updates and results, I would have thought. And pretty meaningless about where the share price is headed in the future, positive/negative updates will largely determine that.

[2magpies] 14/4/2014 17:09

trident

agree with your posts.

re charts, let's not forget the gaps, which, as far as I can see are as follows:





Of course there is one big one on the upside (which has now become 'resistance'), so it remains to be see which one closes first.


Very difficult to say what happens here (not least due to poor visibility provided by management). In my view GAW could be a tempting morsel (due to its 'captive' customer base and the particularly niche offering) for some entity. On the other hand, some form of cathartic event may be necessary to flush out the hubris that appears (to me) to populate the more prolix of the RNS's. In the latter event the lower two may close first.

Just my opinion.

[essential] 14/4/2014 09:32

Trident - you are correct the 200dma is falling! I'm looking for a move up to this level rather than through it and I'll be out. Only looking relatively short term with this one. Good luck.

[nod] 14/4/2014 00:58

The above link is Kirby's obligatory 'comply or explain' to the LSE. He breaches two fundamental UK Corporate Governance Rules and is obliged to explain why in each annual report.Breaching one rule is bad and breaching two rules is dreadful. This keeps institutional investors away as they understand the risks associated with these breaches.Since first breaching the rules in January 2013 the share price has tumbled. In my opinion that is a combination of poor management and poor Board level influence. What we have with GAW is a one-man band. That's dangerous and seldom good for shareholders. We have been here before and it was fixed with the appointment of Mark Wells in 2007. The impact for shareholders was dramatic, with great results for five years.Kirby may have the right ideas but he obviously lacks the management skills to implement changes effectively.

[trident5] 14/4/2014 00:01

Nod
I must admit I'm a bit out of the loop now on how the company is being run. I quite like companies with a directors with a lot of skin in the game and a long term history with the company though.

I was a bit put off with the idea of one man shops - I'm not sure further cost cutting is a good thing. I thought the focus should be on sales growth. The margins are fine, the growth story though doesn't look very compelling. And I'm not sure senior management have spent enough time and commitment trying to crack the US market - it's 5/6 times the size of the UK.

I will be reading the next set of accounts with interest though.

[trident5] 13/4/2014 23:06

Essential - Have I got the graph upside down, the 200dma is falling?

[essential] 13/4/2014 20:47

Interesting listening to the debate. And I agree the RNS says nothing. However, the chart looks very strong and I tend to avoid the "noise" and follow what the chart is telling me, which is a powerful uptrend forming up to the 200dma hopefully. Good luck all