Shoe Zone Share Discussion Threads

[bountyhunter] 02/8/2022 07:12

Buybacks commence

Transaction in Own Shares

Shoe Zone plc (AIM: SHOE) announces that on 1 August 2022, it purchased 15,000 ordinary shares of GBP0.01 each in the Company (the "Repurchased Shares"), pursuant to the share buyback programme (the "Buyback Programme") that was announced on 29 July 2022

[thecroots] 29/7/2022 08:38

No worries Garth

[bountyhunter] 29/7/2022 07:56

No debt here, rolling in cash 💰 🙂

[thecroots] 29/7/2022 07:48

Garth,

What debt?

[bountyhunter] 29/7/2022 07:17

Yes, buybacks as previously discussed.

Share Buyback Programme

Shoe Zone announces that it intends to conduct a share buyback programme of ordinary shares of GBP0.01 each in the capital of the Company ("Ordinary Shares") up to a maximum aggregate consideration of GBP1,000,000 ("Maximum Amount") (the "Buyback Programme").

The Company entered into an irrevocable and non-discretionary arrangement with its broker, Zeus Capital Limited ("Zeus"), on 28 July 2022 to enable Zeus to conduct the Buyback Programme on its behalf on a broker-managed basis, with trading decisions being taken independently of the Company.

The Buyback Programme commences today and ends on 31 August 2022 or, if earlier, the date upon which the aggregate consideration paid for Ordinary Shares reaches the Maximum Amount (the "Buyback Period"). During the Buyback Period the Company has no power to invoke any changes to the authority and any purchases will be undertaken by Zeus, acting independently of, and uninfluenced by the Company.

The Buyback Programme is in accordance with the terms of the Company's authority to make market purchases of its own Ordinary Shares granted to it by shareholders on 8 March 2022

[garth] 29/7/2022 07:13

Edited out re below Croots. I thought I read above they had debt. When I invested last year do I recall they don't? One of my sleeper shares.

G.

[chinahere] 26/7/2022 19:51

I had a look at that thanks thecroots.

I see Luke Johnson has a chunk - I hope he isn't running it!

It does look good to me - another UK recovery stock with growth potential. With this warming weather the UK coast and other attractions could well see a long term revival.

20% of £40 million revenue = £8million per year - three years to payback circa £25 million debt. From there we are on a P/E of 4.

Looks good - any comments?

[thecroots] 26/7/2022 17:52

My other share PIER announced an even better update today. Im a very happy boy today!

[edmundshaw] 26/7/2022 14:03

Most satisfactory :))

[18bt] 26/7/2022 07:26

Blimey - only 3 weeks for the next "better than expected"

[bountyhunter] 26/7/2022 07:25

Trading stronger than expected :)

Shoe Zone is pleased to announce that since the publication of its trading update on 29 June 2022, trading has been stronger than expected due to higher than expected demand for summer products, particularly in the last two weeks. The Company has also continued to experience margin improvements as a result of good supply chain and cost management.

As a result, the Company now expects adjusted 1 profit before tax for FY 2022 to be not less than GBP9.5m.

[bountyhunter] 04/7/2022 10:51

signs of going higher following on from the recent strong trading update on 29 June, £2 is not out of the question imv, glad I held on to these

29 June 22 Trading Update

"Shoe Zone is pleased to announce that since the publication of its interim results in May, the business has been trading well and has also seen strong margin improvements and cost savings, in particular as a result of rent reductions and good supply chain management, which are expected to continue into Q4 of the Company's financial year for the 52 weeks to 2 October 2022 ("FY 2022").

As a result, the Company now expects adjusted 1 profit before tax for FY 2022, to be not less than GBP8.5m."

[thecroots] 29/6/2022 17:46

Nice £250k buy .....

[bertiebingo] 29/6/2022 16:42

Why do you think they have excess cash ?

[niklol] 29/6/2022 10:15

Amazing and very welcome on such a down day

[riverman77] 29/6/2022 10:09

As I suspected they were being way too conservative on their earnings forecasts. Just didn't make sense that brokers were forecasting a huge drop in earnings versus their pre-pandemic levels, given the progress that the company has made on several fronts.

[thecroots] 29/6/2022 10:08

Surely has to be special div and/or share buyback update soon....

[thecroots] 29/6/2022 10:02

Cracking update

[zangdook] 29/6/2022 08:03

and some profit from selling freehold properties

from the interims in May:
"Five freeholds and one long leasehold went to auction in December, resulting in a profit on sale of £0.3m. A further 4 stores were auctioned in April with a final auction to take place in May."

[18bt] 29/6/2022 07:41

Existing consensus seems to be £6.5m, so that's a big increase and plenty left of the year to revise.

[bountyhunter] 29/6/2022 07:29

Yes. "the Company now expects adjusted profit before tax for FY 2022, to be not less than GBP8.5m"

[ayl30] 29/6/2022 07:20

Wow, that's a great rns. Happy news for holders would imply final divi will be good as rent savings are ongoing

[bountyhunter] 17/6/2022 21:14

From the 17 May 22 Interims:

"The Company will otherwise continue to review management of its cash resources which may include special dividend and/or buyback programme, details of which will be announced in due course."