Jd Sports Fashion Share Discussion Threads

[cockneyrebel] 19/6/2009 16:38

Yes - JD. still have 10% the big dog - the second one to post that!

JD. uncrossed at 505p in the closing auction :-) 20K buy @ 505p!

CR

[shanklin] 12/6/2009 10:04

Its SPD that have sold their JJB shares not JD.

[the big dog] 12/6/2009 08:19

Except that they are already out!

[cockneyrebel] 11/6/2009 13:18

JD.'s stake in JJB rocketing this morning.

CR

[cockneyrebel] 09/6/2009 07:27

JD Sports Fashion is not a sportswear chain. The company is keen that we are all aware of that, lest it is confused with the likes of JJB or Sports Direct. Underlying sales in the 17 weeks to the end of May were up 1.7%, with sales at fashion fascia stores up a very creditable 4.6%. Buy says the Independent.

[shanklin] 09/6/2009 07:01

Couple of newspaper mentions



"THE boss of JD SPORTS yesterday said he was happy to be seen as the home of "chav-fashion" - after sales went UP by 1.7 per cent in the 17 weeks to the end of May.

Sales across the high street fell 0.8 per cent last month - the first May drop in four years, the British Retail Consortium said.

But analysts said figures suggested sales at JD Sports, which runs 400 stores across the UK and Ireland, were up by as much as three per cent in recent weeks.

JD Sports chief Peter Cowgill said: "We're encouraged by the progress made this year."

and

[cockneyrebel] 08/6/2009 14:26

yes, agree shanks:-)

Seen this?



INSTANT ANALYSIS Numis sees value in JD Sports, remains buyer
8 June, 2009 09:47:30 AM


Broker remains a buyer of JD Sports Fashion, with target price of 700p, saying it continues to see value in the name, with the stock trading on only 6x Jan-10 EPS.

"Reflecting the reassuring 17 week data point, we move our Jan-10 PTP forecast ahead by c.1% to 54.0m GBP, fom 53.6m."

[shanklin] 08/6/2009 12:50

CR, in the last set of results, JD. also marked down the JJB shares they hold by £6.1m at year end to reflect the price fall from 32.32p to 8p. They're now back at 33p, so if they stay there that's circa 6.1m of positive exceptionals to add to the mix :-)

[cockneyrebel] 08/6/2009 12:37

JD Sports is Fighting Fit says Charles Stanley:




CR

[cockneyrebel] 08/6/2009 12:35

JD SPORTS FASHION PLC (JD.LN) said sales growth improved in the eight weeks to May 30, but maintaining gross margin in line with last year "may prove increasingly challenging" later this year, particularly due to exchange rate pressures.
However, the sportswear retailer said it was encouraged by its progress toward meeting management expectations.

-------------

The £ has actually been rising v the $ of late, and as most of their products come from $ linked currency countries then that has to ease margin pressure going out imo.

JD. always cautious - go back and read all previous trading statements - then they beat.

The move into France will boost earnings next year too imo and an increased interim divi after the big final divi hike imo.

Out paced the rest of the retail sector by a mile, debt-free - PE 6.

CR

[daz] 08/6/2009 07:48

Decent trading statement this morning.

Like for like sales improving, tempered by exchange rate pressures affecting gross margins later in the year.

I think the statement de-risks the forecast for this year and that the company are on course to be near expectations.

[cockneyrebel] 08/6/2009 07:42

Must be the best performing retailer there is:"On 8 April 2009, in the Preliminary Announcement of the Group's results for the
52 week period ended 31 January 2009, the Group reported like for like sales
growth of +0.3% (Sports Fascias -0.2%; Fashion Fascias +3.6%) for the 9 weeks
ended 4 April 2009.


We are pleased to report that, after a further 8 weeks of trading to 30 May
2009, cumulative Group like for like sales growth has improved to +1.7% (Sports
Fascias +1.2%; Fashion Fascias +4.6%). Whilst hitherto satisfactory, maintaining
the gross margin comparative with the previous year may prove increasingly
challenging later in the year, particularly having regard for exchange rate
pressures. However, the Board remains encouraged by the progress made so far
this year towards achieving results in line with management expectations.

That means the last 8 weeks like for like up around 3% imo.

Usua caution as always - margins may get more challenging going forward' but the £ has started to rise in recent weeks and that has to benefit them.

Can't see hardly any retailers with like for like sales this good - and JD have no debt either and are raising the divi sharply.

Miles too cheap still imo

CR

[cockneyrebel] 04/6/2009 10:42

Couple of 17K trades gone through - might be a bit of stock clearing

CR

[cockneyrebel] 01/6/2009 11:58

ISA'd a few more.

CR

[cockneyrebel] 25/5/2009 12:07

Chart is fabulous here.

Going to do around 80p or more eps this year meaning the PE is 6 or less. (Sports direct trading on a PE of 10)

JD. 3% yield (up 40% this year). SPD yield 4%(flat).

JD. no debt. SPD £478m net det, equiv to the mkt cap.

JD earnings growth of 27%. SPD underlying earnings growth of 7%

JD. are better run and look half the price of SPD or nearly any retailer I can find despite it being so well run and debt-free. They have their Interim Management Statement due June 9 or there abouts. I'd expect a good reaction and buying ahead of that statement imo.



CR

[648790] 22/5/2009 11:01

shut up - £20

[cockneyrebel] 22/5/2009 11:00

yes, bought a small few IND recently - I believe they are doing better than expected and heard a rumour of a big contract win, dunno how good the source is tho.

JD. going through a fiver soon and on to £6 come the AGM in a months time imo.

CR

[whatgoesupcomesdown] 22/5/2009 07:13

rebel, just realised you are into ind too..

[cockneyrebel] 21/5/2009 07:40

Acquisition news everywhere today, can't be bothered to post all the links, search Google news :-)

CR

[daz] 20/5/2009 20:01

Yes, they don't have to get margins up by much to get a good turn on the acquisition and the buying power and logistic changes could do that one its own

The extra investment being made indicates that they might be planning bigger changes like store refurbishment and a re-positioning of the company, which could lead to bigger benefits if executed well.

[cockneyrebel] 20/5/2009 18:53

Investec like the buy:

JD Sports Fashion finished 40p higher at 491.5p after paying €8m for sports footwear group Chausport, its first move into the French market. Investec issued a buy note and said:

"Adding [JS's] buying and operational strengths to local management's expertise should create an opportunity to build a scale business in the French market. JD has plenty of balance sheet [strength] to make further bolt-on acquisitions."

CR

[cockneyrebel] 20/5/2009 16:37

Agree DAZ. They also get all those assets.

I would have thought there would be great economies of scale for JD. It gives them a foothold in Europe to start their expansion and the size of the acquisition is nice and manageable, not getting out of their depth.

Looks great to me - and the fab thing is the PE even at 480p is still just 6, the debt is neglegible and the growth rate is good double digit.

Looks a fab deal to me - hopefully some press and broker notes to follow.

Break out today - no resistance till £6 ish.

CR

[daz] 20/5/2009 14:39

CR

Re Chausport, the exit price to sales ratio looks good: €10m to €40m (including the €2m debt being taken on). They do say though that there will be further investment, which will bump up the price a bit further.

The company announcement says nothing though about the improvements that can be wrung from the takeover, which has to be taken on trust, so it would be good to hear what plans the company has. The article above describes Chausport 'as a business that needs modernising', so perhaps the benefits are significant.

At the very least, it looks like a good use of cash, which is earning next to nothing in the bank and the timing looks excellent, if we do see recovery later in the year.

The share price is responding well, which must mean the analysts like the move.

[cockneyrebel] 20/5/2009 11:15

Well some punters seem slow to realise it but my bet is there's plenty of buying between here and the Interim Man Statement in a months time.

This opens the doors to Europe now - bought for a snip imo.

My bet is that current trading is ahead too the way that most retailers are ahead of broker expectations.

CR

[cockneyrebel] 20/5/2009 08:12

Great acquisition as leaked above.

Opening the door to Europe.

These are going to motor when the IMS comes out soon imo. Buyers today when the spread narrows imo.

CR