Jd Sports Fashion Share Discussion Threads

[covid 19 deal] 07/6/2024 16:54

Ukplc is a country to be fvuked by shorters

[blueflex2] 03/6/2024 12:40

Is takeover of France Courir completed since the news released May last year.

[alphabeta4] 03/6/2024 09:33

Feeling in a weird mood this morning - what follows is not usually the sort of thing I usually write.
The last couple of years have seen me spend lots of time doing my brains in over just how ridiculous some of the valuations have become on a whole load of London listed growth shares.
I'm a self-employed professional investor on 9 years and I have a spreadsheet full of the valuations that would be prescribed line by line on some things on a peak valuation basis (Sept 2021) using the same forward pe and adjusting for cash held. For JD I have £3.092.
On Friday we whipsawed from a 15% to c7% drop end of day and now we're ahead of the update. FWIW I crunched the Friday numbers and had them in line if there was no improvement for the rest of the year due to the slightly higher gross margin. The price action was weird in my view. I am seeing a few lines start to show signs of valuing out (one was KWS which I just sold and upped positions including here). I expect to be paid handsomely having gone through a lot of stress in the process.
The issue I have is this: why on earth has this been allowed to happen in the first place? Has no-one got any conviction anymore? It just seems like everyone has been following each other around like lemmings and now there starts to be the odd private equity bid and analyst slap a big target price on something for everyone scrambles to get back in. I'm pleased but it doesn't really say much for the market we're operating in.

[weemonkey] 03/6/2024 07:12

Most numbers have doubled over last 4-5 years yet the stock is down. There is a valuation 'common sense gap' that will be filled in my view. Perhaps we are seeing the start of that today.

[ali47fish] 03/6/2024 06:27

FMR LLC adds to holding

City of registered office (if applicable)

Boston

[binghall] 31/5/2024 09:14

The growth phase does not feel done here, but there are economic factors that are constraining spending at the moment, PE is c10 on an adjusted basis and c12 on a basic basis, so not sure where the PE 0f 30 comes from. The frustration feels that the UK market does not value continually profitable leading companies. It is likely to be making £1bn profit each year from now on - it is no wonder that UK firms are being snapped up regularly by foreign predators. Makes no sense.

[con90210] 31/5/2024 08:47

Hope so! In at 118 for a 2k

[thomstar] 31/5/2024 08:35

Got a feeling we are in for blue finish

[hericsaba] 31/5/2024 08:10

Bottomed at 117p, perfect point to bargain fishing. Good luck for the brave buyers!

[tonybaloni] 31/5/2024 08:07

Almost a days volume in an hour

[noramping] 31/5/2024 08:07

Possibly this bit?

Q125 Trading Update
Trading in the 13 weeks to 4 May 2024 was in line with our expectations. LFL sales* were down 0.7% against a strong comparative of 14.5% in Q1 last year and organic sales growth* was 4.9% against a comparative of 19.7% in Q1 last year. Promotional activity in the market remained elevated in Q125 across all regions. Regionally, we achieved LFL sales growth* in both Europe and North America with Asia Pacific down 0.1% (against a 22.5% comparative). In the UK, our continued promotional discipline, particularly in the online channel, and a tough comparative from Q1 last year, led to LFL sales* being, down 6.4%. The UK therefore held back the JD fascia overall, although LFL sales growth* was achieved in our complementary fascias in North America and in our Sporting Goods fascias.

Organically, reflecting the strength of our JD store rollout programme, both Europe and North America achieved double-digit organic sales growth* with Asia Pacific delivering high single-digit growth.

Q125
LFL sales growth*
Organic sales growth*
1UK
(6.4)%
(5.8)%
1Europe
1.6%
10.8%
North America
2.0%
8.2%
Asia Pacific
(0.1)%
10.1%
Group
(0.7)%
4.9%

[chris cat] 31/5/2024 08:06

Decent results, Olympics and Euros coming up surely should help us?

[alotto] 31/5/2024 07:57

I think investors are spooked by a number of factors, one is the net closure of 70 something stores, whereas the strategy that was set out a year ago or so was to open a large number of stores in 5 years (I don't remember how many, 1000 perhaps?).

[tonybaloni] 31/5/2024 07:46

It'll be on the biggest fallers board at this rate. I should have followed my gut and jumped yesterday, hey ho

[alotto] 31/5/2024 07:38

undervaluedassets I think the problem is that we seem to have past the growth phase. We have been hovering around the £1 billion PBT for quite some time and international markets are very tough.
For a retailer a PE of 14-16 is reasonable, certainly not a PE of 30. So either JD pushes profit much higher or the share price will stagnate.

[undervaluedassets] 31/5/2024 07:20

pe of circa 12 down from 30 in 2020 (pre-pandemic)

operating profit growth over 4 years circa 30% annualized.

adding stores and growing everywhere.

Am in Bilbao on hold and a tram has just driven past me exclusively painted as a JD Advertising hoarding.

What is not to like?

This is day one of the market digesting these results..

veremos

[wad collector] 31/5/2024 07:10

Hmm, maybe those numbers are not quite as good as the Market expected.

[bartyb] 31/5/2024 07:03

in auction?

[rachael777] 30/5/2024 12:09

Footlocker sound very upbeat in US today - should make jd results tomorrow an interesting read

[alphabeta4] 29/5/2024 11:43

FWIW I suspect flagging in line is because they want to flag there is nothing untoward with the numbers.
As for the delay this will be the first quarterly reporting and may have taken a little more work than expected. Ever since Covid auditors have been more cautious on sign-off until totally happy.

[disc0dave46] 28/5/2024 18:29

Agree not a good impression delaying results. I'm also a bit baffled as to the comment that the Board expects results to be in line!- perhaps semantics but why with only 2 days until resujts are they uncertain about being in line or not, no need to even mention it IMO.The positive write up in the Times has clearly given it a kick despite the delay.

[chris cat] 28/5/2024 15:21

Agreed, but it sounds like a minor issue given that they have stated in line, certainly seems to have taken away any market nervousness given we are up c5% today on a sizable down day in the general market

[alotto] 28/5/2024 14:09

It is not flattering for a company in the Footsie to be unable to stick to dates.
They waited long to give a date and less than a week later it slips to a later date

[alotto] 28/5/2024 14:06

Last sentence of the RNS
JD Sports Fashion Plc (the 'Group'), the leading retailer of sports, fashion and outdoor brands, today confirms it now intends to issue its full year results for the 53 weeks to 3 February 2024 on Friday, 31 May 2024, two days later than its previous planned date of 29 May 2024. The Group's Board confirms that it expects the results to be in line with the guidance provided in its FY24 Trading Update on 28 March 2024.

[chris cat] 28/5/2024 13:59

Alotto......I have just seen the RNS changing the date and noting in line with estimates