Pittards Share Discussion Threads

[clocktower] 15/5/2021 15:36

Not to forget the big positive extra earnings due to the exchange rate as you have very clearly pointed out. That alone must be worth a very considerable amount, maybe you have the time to give us some idea how much extra this will add to the bottom line this year. Even an estimated would be welcome.

[clocktower] 15/5/2021 15:30

Hi S, As I am enjoying the sunshine this weekend and not doing any verification of posts, I shall respond to your posts on Monday.

However if what you say is correct about breaking the regulations, then I would urge you to contact the AIM regulator and set out your allegations in detail as you have done on your last two posts.

While you will get little joy from the regulation team, I can assure you that they do look into these matters, as there was one company that had failed in their duty to give accurate and timely and true information to the market, that was forced to publish the information that I had brought to the regulatory teams attention within 10 days of me raising the issue, which they had failed to declare for over 12 months.

Have a good weekend and good luck with getting to the bottom of the accounts etc.as they are clearly being managed, as I had suggested some short time ago, as I believe the turnaround will be remarkable now that all the awards have been reset and they have added to their stockpile of shares which they purchased in the market, some pretty recently as you are aware.

Upwards and onwards as they have stated that the order book is growing and they are EBITA positive and have been for many months now. I also think that I have shown in many of the posts on this thread how well they must be doing with the shoe brands they are manufacturing for, in addition to the other new innovations and marketing not to forget the big reduction in costs- I mean £2 million savings is huge, I think you will agree.

[smithie6] 14/5/2021 20:01

interesting info

have you seen the price of a T shirt from Balmain ?

350€

for a T shirt !!!!!!!!!!
:-0



----

here's an idea

"Pittards England"

on a T shirt.

£350
& see if people queue to buy it in Dubai or Shanghai !!

-----

yoox

they seem to sell luxury stuff from various brands

[clocktower] 14/5/2021 17:41

Stella business - wonder if they are using Pittards leather now anyway.

[clocktower] 14/5/2021 17:11

Interesting line of investors in Vivobarefoot that could really take out PTD and run it more successfully that it has been over the past years plus they might get the likes of Nike, Prada and Timerland to use Pittards leathers. So it could be a win win situation for everyone imo.



"Who are the existing shareholders?

Stella Investments Overseas Ltd: 17.5%
Clarks Family: 75.5%
Crowdcube Investors: 7%


What other interests do the shareholders have?

Stella International own a number of brands: Stella Luna, What For, Balmain and a large manufacturing business making for companies such as Nike, Prada, Timberland and Ecco.
Galahad is a non-exec board member of United Nude, Worn Again, Clarks Shareholder Council, Crossway foundation.
Asher is a minority shareholder in the Columbo group and Clarks shoes.


What is Clarks involvement in Vivobarefoot?

Although 80% of the shares are owned by members of the Clarks family, the Clarks business has absolutely nothing to do with Vivobarefoot."

[clocktower] 14/5/2021 16:22

Seeing its popped up could there be news early next week?

[clocktower] 14/5/2021 16:20

Take a look at the investors in vivobarefoot S - a RTO or merger would be ideal imo. That could also be behind the buying possibly.

[smithie6] 14/5/2021 16:18

imo the designs are new

[clocktower] 14/5/2021 16:07

As their bags are classics I guess they might still be making the same designs now.

The real deal is the shoes imo. Big growth from their shops and online and ties with the Clark family. Does not get much better imo - they might do a RTO. :-)

[smithie6] 14/5/2021 15:52

in the video in the header for this thread for a photoshoot

the model looks to have at least 3 different styles of Pittard's (or D & H) handbags

[clocktower] 14/5/2021 15:28

LOL - no they do not sell handbags ay Mulberry prices on the company website BUT they do own Daines & Hathaway selling wash bags at £150 plus and overnight bags at £500 plus and many of the lines are SOLD OUT. Or how about a Bar Set at a snip of £310.00 even one line of those has sold out.

So I guess you could say they might be busy keeping up with retailers wholesale orders. Hopefully though they are selling them online and bagging a great profit margin.

[smithie6] 14/5/2021 15:25

if they could sort out the debt/gearing/excessive inventory situation the share price might double in response imo

since a lot of the share price would be supported by tang. nett assets.

but the high inventory has always been the situation, over years, phps it is dictated by the type of business it is, so personally I don't think they'll get the inventory to be reduced from 12 months to say 6 months worth (with corresponding debt reduction & reduction in finance cost & increase in profit) but maybe they will surprise me

[smithie6] 14/5/2021 15:12

difficult to say I think

phps depends on whether the mkt sees any 'good trading' news in July as being temporary or long term

& will also depend, at some time when the data is known, on nett cash generation & reducing the gearing & bank debt (in the end investors ignore all the blah blah blah & invest based on the numbers (& any change in trend in the numbers))

the co. needs to increase its profit margin

they did take on product design staff which might produce a structural change, if it works
(if they start selling lots of handbags at over £1000 then .....!)

[clocktower] 14/5/2021 14:52

Lets move on from the 400k shares and head back to the potential update in July or before maybe.

As you know the order book was higher to start the year with, and with the reopening of businesses in general this can only have improved imo.

You have highlighted all the other likely benefits like the exchange rates, and staff savings etc. so what do you think they will have to say in the update RNS?

What numbers would you expect, and on the basis of the almost certain good news, where do you think the share price will be after the update?

[smithie6] 14/5/2021 14:22

about 105k shares bought between 14 May & 6th May, inclusive.

7 trading days. 1.4 trading weeks
inferring , if used simple pro rata, that 8 weeks might give 600k shares.

but if 1/3 of the buy trades were for the co. then just 200k shares & need to buy or issue 400k shares 'if' wanted the full number of option shares to be held in treasury. But phps there is no need, since new shares could be printed imo or phps cash given instead.

(& of course at present none of the perf. targets have been met)

[smithie6] 14/5/2021 13:52

if the bod tries to buy 400k shares in the ~8 wks before the trading update

it equates to 50k shares per week.
if we assumed they bought 1/3rd of the shares being bought, it would mean 150k shares being bt per week by the mkt in total; & 150k being sold.
= 300k shares being traded in total in the mkt
=60k/day

I think this is much higher than the actual mkt trading volume

so personally I cant see it happening, not at 55-60p anyway
( at 60-70p one assumes there would be some sellers cashing in profit)

======

if there are only 10% of the shares in the hands of small holders then that is 1.4 million shares

to try to obtain 400k of those shares (29%) in an 8 wk period, to me it looks completely impossible.

(& J.Rendell has been buying I think at 55p so I can't see him being willing to sell any to the bod at 60-65p).

[smithie6] 14/5/2021 13:23

issuing 300-400k new shares , if needed, to put in treasury to obtain the total of 1.4 million shares to give to the dirs.

JR might not be asked. ;-)

most co. AGMs include a resolution every year to allow % of new shares to be issued by the bod without having to ask again for permission, but I haven't checked the AGM resolutions (but all were approved).

(& doing so would help the co. cashflow by avoiding buying the shares in the mkt)

[smithie6] 14/5/2021 13:19

btw

trading update due in July
which could be good, noting that the order book on Jan. 1 2021 was the highest in 2-3 yrs

[clocktower] 14/5/2021 12:58

They already hold a fair number of shares between them,which they have purchased in the market from time to time, and the advantage of buying the 400k in the market is that their own shares also become more valuable. JR etc may also not be happy if they just issued new ones to satisfy the award.

[smithie6] 14/5/2021 12:53

issuing 400k new shares
('if' it is needed if the upper target of the perf. targets is reached)

40% to the MD . 160k shares. £160k
30% to the chairman. 120k shares. £120k.

etc

So, imo it would be very beneficial to the dirs if they issued 400k new shares.

(while I see your possible (hidden) point, that if 'they' use co. money to buy shares in the mkt 'they' could help push the share price upwards to try to meet the perf. target, which is the share price !)

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who knows, phps one option is to improve the financial & profit numbers (eg. in H2 2020 & in recent months)
& report the results
& then sell the co. to Mulberry or whoever made the approach in 2013 at 100p & qualify to exercise the options in full & get 10% of the co.:
= £1.4 million.

(£560k of it for the MD)

& retire with the cash & then concentrate/work on how to spend so much money !!