Jacques Vert Share Discussion Threads

[serratia] 28/4/2006 12:29

Perhaps the management should put out a statement saying they know of no reason for the fall except for a positve comment in 'Shares'.

[charmer1_23] 28/4/2006 12:21

Well done fusey! ;--))


Pre-Close Statement

RNS Number:1515C
Jacques Vert PLC
28 April 2006







DATE: Embargoed until 10.00am, Friday 28 April 2006

CONTACTS: Paul Allen, Chief Executive
Ian Johnson, Group Finance Director
Jacques Vert Plc
Tel: [phone]

Alistair Mackinnon-Musson
Hudson Sandler
Tel: [phone]
Email: [e-mail]







JACQUES VERT PLC

PRE-CLOSE STATEMENT



Jacques Vert Plc, the clothing retailer and wholesaler, makes the following
statement prior to entering its close period and announcing its Preliminary
results in July 2006:



The Retail Division traditionally generates a significant proportion of its
sales in March and April each year. In common with a number of clothing
retailers in the UK, trading was disappointing in both of these months, with the
result that sales were below the Board's expectations. Consequently, the
Group's operating profit before exceptional items is now expected to be
significantly below market expectations.



Finally, much work has been done to resolve the legacy issues relating to the
Group's acquisition (in December 2002) of William Baird plc ("Baird"). In
particular, payments in respect of industrial disease claims made under an
indemnity given by Baird in 1992, are believed to be reaching an end. This is
as a result of the indemnity being capped and claims already paid under the
indemnity to date approaching this cap.





Editors Note:



The Group comprises (i) a Retail Division selling four womenswear brands -
Jacques Vert, Windsmoor, Planet and Precis, predominantly in the UK, Canada and
Eire and (ii) a Wholesale Division selling a menswear brand, Melka and an
outdoor clothing brand, Tenson throughout Europe.









- ENDS -




This information is provided by RNS
The company news service from the London Stock Exchange
END

TSTVDLFLQZBLBBB

[dell314] 28/4/2006 10:44

Serratia - What a marvelous piece of timing from good ol' Shares Comic, eh?

Rgds
dell

[serratia] 27/4/2006 18:21

Comment in Shares mag,broken the downtrend 26p potential

[fusebox] 08/4/2006 18:34

Major concern...

Change in Accounting Policy

The Group has adopted FRS17, "Retirement Benefits", for the first time in these
Interim Statements and the results for the prior year have accordingly been
restated. The effect of this change in accounting policy has been to increase
total provisions by #11.4m at 1 May 2005 (increased by #9.6m at 23 October
2004). As a consequence, net assets have been restated to #3.5m at 23 October
2004 (previously #13.1m) and to #1.0m at 30 April 2005 (previously #12.4m). The
effect of the change in accounting policy on the Profit and Loss Account is
shown in note 2 of these Interim Statements.

Pension Costs

A triennial valuation of the Baird Group Defined Benefit Scheme is currently
being undertaken with a valuation date of 30 June 2005. While discussions with
the Trustees are at an early stage, the effect of changes in mortality
assumptions is likely to give rise to an increase in the deficit on this Scheme.
The Group currently makes annual contributions of #1.7m to the Scheme.

[fusebox] 08/4/2006 18:01

Broker comment...

"The broker said it must point out that the company had to generate at least 4 million pounds of profits to standstill on the cash front because of the provisions and it thought that the pension deficit remained a concern."

[fusebox] 08/4/2006 17:43

The majority of my calls arent far out. As for MFI i followed it down from £1.20 to 60p.

So what it rebounded but that didnt make me wrong!!! In fact the brokers have sell for MFI and 70p price target.

Back to this stock im happy with my source of info.

Sales are going down and some stores doing badly indeed.

[fusebox] 08/4/2006 17:29

The company indicated in the January statement the co would have to evaluate the pension deficit in June. They are getting ever nearer and possible a bigger deficit to plug.

The balannce sheet is already in a bad way any worse the nett assets will be derisory!

[fusebox] 08/4/2006 17:27

Thats right i dont but some do. However it is a concern when an institution sells!

The thing is if they buy they arent losing their own money. However if they sell they are more concerned about the business!

[fusebox] 08/4/2006 17:14

Schroders sold 2.5 million in March....

[fusebox] 08/4/2006 17:09

Empty your boots be warned...

[fusebox] 08/4/2006 17:07

Rumours of sales slowdown...some outlets in dire straits.






Just short of 6 months ago i went bearish on JQV.

The concerns were retailers having a torrid time lately and a huge pension deficit in the company.

Brokers/advisers stated after the last results the company had to run to just to standstill.

However since my last posts on the other thread way back in January i feel i need now to update the boards further.

Mutter from the gutter is sales doing badly. Some outlets takings down sharply ie 50% !

Ths company is not for widows or orphans.

In a low margin business this share is now extremely risky.

Avoid.

[terry91] 16/1/2006 23:13

fusebox aka haystack aka very strange person!

All in my opinion that is very very sad.

Profit made move on. lol

[fusebox] 16/1/2006 16:41

Fileting me wont stop the share price decline!!!

[serratia] 14/1/2006 01:26

Haystack IV,

Filtered -unsubstantiated comment, Fusebox long gone.

[quotes_4_u] 13/1/2006 20:16

Busy thread all of a sudden, shame it's just one person
spoiling the thread.

fusebox - 12 Jan'06 - 17:02 - 713 of 722 (Filtered)
fusebox - 12 Jan'06 - 17:13 - 714 of 722 (Filtered)
fusebox - 12 Jan'06 - 17:14 - 715 of 722 (Filtered)
fusebox - 12 Jan'06 - 20:59 - 717 of 722 (Filtered)
fusebox - 13 Jan'06 - 08:00 - 718 of 722 (Filtered)
fusebox - 13 Jan'06 - 12:34 - 719 of 722 (Filtered)
fusebox - 13 Jan'06 - 16:29 - 721 of 722 (Filtered)
Haystack IV - 13 Jan'06 - 20:13 - 722 of 722 (Filtered)

[haystack iv] 13/1/2006 20:13

Looking VERY VERY bad!!

[fusebox] 13/1/2006 16:29

The brokers have downgraded though and they make clear the pension deficit is a worry.

Pension deficit widening too and thats before a valuation of the Baird scheme.

Price dropping all the while now there is too much risk here.

[40plus] 13/1/2006 12:41

Seymour Pierce still said BUY

[fusebox] 13/1/2006 12:34

Broker comment...

"The broker said it must point out that the company had to generate at least 4 million pounds of profits to standstill on the cash front because of the provisions and it thought that the pension deficit remained a concern."

[fusebox] 13/1/2006 08:00

hvs - 12 Jan'06 - 17:51 - 716 of 717


IGNORE FUSEBOX,

He is a thread thrasher who does not understand accounts.

Filter him.
....................

I understanda huge pension liability thats for sure its all in the RNS.

So is the fact that net assets are only a small proportion of market cap ie just over 10% !!!