Somerfield Share Discussion Threads

[wollaton] 13/7/2004 15:14

Its nice to see this going up for a change.

[faxxer] 10/7/2004 10:05

Hi bigface
Saw your post 1264 on bfp
a. I don't think Somerfield will even look at bfp
b. I agree with goodfella - he is a v. knowledgeable and honest poster
c. I let the trend be my friend on this one and sold
d. Bookers distribution chain must feel pressure from ASDA/SBRY/Tesco Home delivery and others.
e. Er... that's it!

[farsight] 09/7/2004 23:31

Howdy howdy howdy

[bigface] 09/7/2004 23:20

Howdy all - still not holding but missing holding already!

[faxxer] 09/7/2004 09:12

£99 million cash, £27.3 million debt - you may need to register with timesonline to read this:

[faxxer] 09/7/2004 08:53

Hi misermanuk

Yes, I think it is very old news. I think the last shop sale of significance was Bridgnorth sold to Sainsbury



(Nice piece of co-operation with Sainsbury there) Somerfield still have a store in Bridgnorth I believe.

This following news came to me on 12th May and is therefore not reflected in the 2003/4 accounts:
150 jobs are lost in Somerfield closure
ic Lanarkshire.co.uk - Lanarkshire.co.uk,UK
IT is feared 150 workers could lose their jobs after it was announced last
week that Somerfield is to close its delivery depot in East Kilbride.
...



The other significant news recently was the closure of KwikSave outlets in Scotland. I don't know whether any of the closed stores have been sold or whether they were leased and simply terminated the leases. I think they must have been in secondary positions and not capable of expansion.



This is the item that farsight alluded to recently:

[bigface] 09/7/2004 08:34

Faxxer BFP thread 1264

[bigface] 08/7/2004 22:38

Interesting if its true. Gearing up to buy BFP is my prediction - the only reason for SOF that I can see and mainly why I have shifted ito BFP -

[misermanuk] 08/7/2004 17:17

Hi all.

Discovered today SOF has agreed to sell two of its larger stores to Asda.
Is this old news?

[farsight] 08/7/2004 13:23

Typical. I sell, there are apparent big sells showing, but it goes up.

[flat eric3] 08/7/2004 00:06

Blunderbuss - that is also true for making a profit. i.e. none until you sell!!

[farsight] 07/7/2004 17:26

I know blunderbuss, but I'm swimming against the tide here and it seems to be getting worse. But nevermind, SOF has been good to me in the past, I'll get my money back another day.

[blunderbuss] 07/7/2004 14:35

You don't make a loss until you sell. A v good buy level for SOF is approaching.

[farsight] 07/7/2004 13:50

Down another tuppence. Jeez.

[farsight] 06/7/2004 17:08

Duh, down again.

Muggins Farsight sits and watches while every penny costs him £66, because he thinks somebody is accumulating 100,000 a time on O trades while pushing the price down on ATs.

Come on guys, am I kidding myself here?

[farsight] 06/7/2004 14:07

Well fishy. Sniff sniff, I smell a bid.

[bigface] 05/7/2004 17:42

Could be farsight - Iceland too, but the general sentiment for supermarkets isn't helping. Morrisson/Safeway & Sbry satements are weighing down on the market.
These middle ranking supermarkets are suffering most, and dragging down The Third Liners too far in my opinion. .

Not much time to chat unfortunately, but my view is that BFP & SOF are doing better than they were last year and shouldn't have been hit as hard as they have. Both should make 2 - 3 % of turnover in profits.

Puzzling fall indeed -

[farsight] 05/7/2004 16:14

Some SETS fiddle going on, I imagine.

[wollaton] 05/7/2004 14:44

I dont get it either,fab results,surely these are worth more than 146ish,why arnt they going up?

[farsight] 05/7/2004 13:12

I don't know, great results, director and institutional buys, and it goes down. Come back milanilic, all is forgiven.

[farsight] 05/7/2004 09:26

Thanks Bigface.

[bigface] 03/7/2004 19:28

There is no advantage to the Company of answering that question farsight. By keeping the market guessing the pot is kept boiling as people think there may be a bid. The approach (very common it is too) keeps the price up and makes it less likely a bid would be successful. No lose situation for JVS - which is why is refused to say either way.

I think Venture Capitalists would only take it over if they thought they could get it for below NAV and that is very unlikely. As for another Supermarket - perhaps, but I think SBRY, for example, would THINK is was cheapening it's image by buying Somerfield/Kwiksave, partly because they serve very different customers and partly because I fancy the City still sees SOF as having a poor image.

It is us that have to decide whether there is going to be a bid for SOF. My view is that there is no reason why it will be not Somerfield, with its excellent NAV and healthy balance sheet, that will be growing by acquisition. One of the few Supermarkets growing turnover at present.

The turnaround appears to be well underway and stability and a more favourable city backing and an improved share price should follow. Cheap at 148p, but for some reasone there are those that rate SOF as "fairly priced". Telegraph referring to a broker 030703

I am currently not holding.

[farsight] 03/7/2004 17:09

The 61-year-old John von Spreckelsen, who is to relinquish his position as
chief executive on September 1 to concentrate on his role as chairman, refused
to say if the company had received a fresh takeover approach from UK retail
entrepreneur John Lovering.

Why?