Jd Sports Fashion Share Discussion Threads

[mickinvest] 07/1/2010 08:17

Morning CWA

Brilliant stuff and cheers for highlighting these a while back in the pub although I did hang off a while for the discount. :-)

Should be some cracking press tomorrow as they are terrific numbers and I presume they think JJB will continue to struggle otherwise they would have held their stake.

Mick

PS - I have a good feeling that we may move into profit in (COP) soon so fingers crossed there as well and if you seen my post on DGO board, no reason they shouldn't be hitting a fiver as well.

[matt] 07/1/2010 08:08

Let's hope : )

[daz] 07/1/2010 08:02

Forecasts were for 80p in earnings this year. As the company have said this will be significantly exceeded, you would think this means by at least 10%, so they could be on for 88p or more.

With their excellent track record they really deserve a premium rating rather than the discounted rating they're on currently. Perhaps a few will take notice today.

[cwa1] 07/1/2010 07:51

Morning :-)

[mickinvest] 07/1/2010 07:45

Very nice indeed. Makes smashing reading Matt and with it being World cup year, no reason they can't continue to increase sales.

Mick

[matt] 07/1/2010 07:13

7 January 2010
JD SPORTS FASHION PLC
CHRISTMAS TRADING STATEMENT


The Board now believes that current market expectations for Group profit before
tax and exceptional items will be significantly exceeded though the extent to
which this occurs is still dependent on the impact of the prevailing severe
weather conditions in the UK.

[matt] 06/1/2010 18:18

Nice rise ahead of tomorrow's statement.

[matt] 05/1/2010 16:49

Let's hope the fact people are snowed in doesn't dent any consumer recovery.

[mickinvest] 05/1/2010 16:35

Fingers crossed Tony, you'd think they'd have a good chance of increasing market share due to JJB's stock problems and closing branches. Adding in this is World Cup year and plenty of scope for 2010 being far better than expected and that should hopefully put them on a decent upward run and I'll be off to pastures new with a decent profit with any luck.

Mick

[tony5000] 05/1/2010 16:03

If results are good/reasonable and in line with market concensus then this will be significant - IMHO - as will denote a step change from annual profits of c£35/38m - towards £60m and beyond - in future years. Will probably not stay at this low valuation for long in view of potential profits, growth, acquisition potential and zero debt.IMHO DYOR.

[mickinvest] 05/1/2010 15:21

Sales update this Thursday, should interupt the tumbleweed for 5 minutes.

Mick

[cwa1] 24/12/2009 09:54

the iconic Canterbury brand

I take it it must be iconic over in Oz/NZ as I've never heard of it. Though that could be me showing my age again :-( I'll ask my daughter:-

Acquisition of stakes in Australian and New Zealand distribution companies for
Canterbury products


JD Sports Fashion Plc ('JD' or 'Group'), the leading retailer and distributor of
sport and athletic inspired fashion apparel and footwear, announces that it has
taken further steps to control the global distribution of the Canterbury brand
through the acquisition on 23 December 2009 by its wholly owned subsidiary
Canterbury Limited ('Canterbury') of 100% of the issued share capital of
Canterbury International Australia Pty Limited in Australia ('CIA') and 51% of
the issued share capital of Canterbury of New Zealand Limited in New Zealand
('CNZ'). The total cash consideration paid for these investments is GBP1.6m
including fees of which GBP1.4m is being used to satisfy existing debt.


CIA and CNZ were both previously subsidiaries of Herald Island Limited, a
company based in New Zealand and controlled by Ross Munro. Herald Island and CCC
Nominees Limited, which is also based in New Zealand and controlled by Ross
Munro, will hold the remaining 49% of the issued share capital in CNZ with Ross
Munro agreeing to become the Chief Executive Officer of CNZ.


Canterbury and the vendors have agreed a put and call option whereby Canterbury
may acquire the remaining 49% of the issued share capital of CNZ. This option is
exercisable by either party on the third anniversary of the completion of this
initial transaction and on each anniversary thereafter.


For the year ended 30 June 2008, the audited profit before tax of CNZ was
GBP1.8m and at 30 June 2008 the gross assets were GBP12.9m (including GBP8.1m
due from CIA) and net assets were GBP3.1m. For the year ended 30 June 2007, the
audited loss before tax of CIA was GBP0.3m and at 30 June 2007 the gross assets
were GBP8.8m and net liabilities were GBP0.5m.


The directors do not expect these investments to be materially earnings
enhancing in the short term but they will add to the Group's control of the
Canterbury brand and its global marketing properties.


Peter Cowgill, Executive Chairman of JD, said:


"We are delighted with these strategic investments as they further enhance our
ability to control the global development of the iconic Canterbury brand."

[mickinvest] 09/12/2009 17:33

Suppose I'd cheer them to the final, sell into the expected rise and hope they lost CWA :>)

Mick

[cwa1] 09/12/2009 17:25

Good grief Mick, surely there are limits even for you ;-)

[mickinvest] 09/12/2009 16:50

Thanks Martin, thought there was something wrong in the figures when I half remembered they were written down by just over £6m and should have checked post 130.

Still a decent turn around from last year to have a £4m exceptional against a £6m writedown and just need to hope trading continues to perform half decent.

At this rate I'll need to cheer England in the WC to ensure a profit :>)

Mick

[mickinvest] 09/12/2009 15:16

JD. have sold their 65m shares in JJB for 25p.



The investment in 9.98% of the issued voting share capital of JJB Sports Plc made in November 2008 was made at 32.25p per share. The shares have been written down to their quoted value of 8.00p per share at 31 January 2009.


Loss on the original investment but sold at £11m above current book price so decent profit for next results if I've worked that out correctly.

Mick

[mickinvest] 07/12/2009 15:41

The dividend will be paid on 8 January 2010 to shareholders on the register as at close of business on 4 December 2009.

FWIW, Just noticed these went ex-divi last week for 3.3p.

Mick

[aishah] 06/12/2009 11:44

From the FT:
For teenagers of a certain milieu, there are few things cooler than branded sportswear. JD Sports Fashion has tapped this demand, differentiating itself from its peers – JJB Sports and Sports Direct – by focusing on the fashion end of the market. Rising sales have helped shares in the retailer more than double since the start of 2009, and at under 500p they are trading on a prospective multiple of around 6.5 times, a distinct discount to the sector.

[mickinvest] 03/12/2009 08:14

JD SPORTS
Singer Capital Markets yesterday upgraded its current year forecast for JD Sports Fashion by 4.8 per cent and raised its target price to 677p from 663p, noting that JD has shown a pick up in trading over the last few months, particularly in the fashion fascia. The broker added shares had been weak since the company's interim results, but they now look to be good value again. It moved its recommendation for JD back to "buy" from "fair value."



JD Sports improves trading
Daily Mail
2 December 2009, 9:07am

JD Sports Fashion is confident about its prospects for the rest of its financial year after a slight improvement in trading in recent weeks.

It last updated the market in September when underlying sales at its sportswear retail outlets were up 0.5% in the previous 32 weeks while revenues from its fashion fascias were up 2%.

A brief update yesterday revealed trading had 'marginally improved'.

Shares rose 19,25p to 517p. But Jonathan Pritchard of Oriel Securities said the 'thin' update looked 'disappointing' and put his buy recommendation under review.




BURY, ENGLAND, December 02, 2009 /24-7PressRelease/ - Leading British sports fashion retailer JD Sports has now added an international shipping option to its delivery portfolio, widening their potential customer base. Previously delivery had been restricted to the United Kingdom, the Republic of Ireland and the Isle of Man. JD Sports stocks exclusive brands such as McKenzie, Carbrini and Brookhaven as well as exclusive products that the retailer acquires from huge brands such as adidas Originals and Nike.

Source: JD Sports Starts Shipping Internationally




Kate Heseltine, analyst at Seymour Pierce, said JD Sports Fashion was valued at a significant discount to the sector, at 6.4 times 2009/10 earnings.

"Given the strength of management and potential for growth through acquisition, we think this rating unjust," said Ms Heseltine.

[mickinvest] 02/12/2009 08:23

Just added another couple of thousand, update seemed decent and there should be a cracking uplift in sports gear next year due to the world cup plus I noticed last year's figures had £6.1m write down for the JJB holding that wil see if written up this year by the same amount so a £12m swing just for starters.

Mick

[tony5000] 01/12/2009 07:13

JD Sports Fashion Plc (the "Group"), the leading retailer of sport inspired and fashion apparel and footwear, today releases the following Interim Management Statement:

On 22 September 2009 the Group announced a positive like for like sales performance for the 32 weeks to 12 September 2009 of 0.5% for the Sports Fascias and 2.0% for the Fashion Fascias. Trading for the 11 weeks since that date has marginally improved the cumulative rates in both sets of Fascias.

The overall performance of the Group's core retail Fascias remains encouraging, particularly in the light of strengthening in the Sports Fascias' competition, subsequent to recent fundraising. The early signs from recent acquisitions remain encouraging too. Margins in the second half have been in line with expectations and so the Board remains confident about the Group's prospects for the remainder of the current financial year.

The Group will issue its post Christmas trading update on 7 January 2010.

[tony5000] 18/11/2009 21:43

Possibly illiquid at the moment as the major shareholders feel that their significant holdings are too cheap to sell at the current price - and the price has much further to go.

If JD hits its forecasts this year - this is a step change - and the price could then move towards the £7/£8 mark. Company is significantly undervalued IMHO - no debt - and great potential to increase sales and net profits in the future via UK (Bank & JD) and abroad. JD also has a very significant internet business which it tends not to shout too much about in its announcements.

I am sure the various institutions will sort the liquidity issue out at some point and prise some shares from current holders - but perhaps a higher offer price than today's will be required to tempt them. IMHO DYOR

[mickinvest] 18/11/2009 12:01

Still going in the right direction although I can't remember seeing a company on the full market valued around £250 million being so illiquid?

Has it always been like this?

Mick