Buy
Sell
Share Name Share Symbol Market Type Share ISIN Share Description
Superdry Plc LSE:SDRY London Ordinary Share GB00B60BD277 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  77.50 28.08% 353.50 349.50 351.00 352.00 282.00 282.00 2,195,238 16:35:14
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Personal Goods 704.4 -166.9 -174.9 - 290

Superdry Share Discussion Threads

Showing 1801 to 1824 of 1825 messages
Chat Pages: 73  72  71  70  69  68  67  66  65  64  63  62  Older
DateSubjectAuthorDiscuss
06/5/2021
17:29
Weird that the Stockpedia comment makes no mention of the return of the founder who knew what he was doing far better than anyone who followed. That changes everything. Imagine selling at 299 this morning and boasting about it here
ade45
06/5/2021
17:03
stockopedia comment: 326p (up 18% today, at 10:16) - mkt cap £267m Superdry announces a trading update covering the 52-week period from 26 April 2020 to 24 April 2021 ("FY21"). Returned to revenue growth in Q4. However, remember that the Q4 last year comparative was hit hard by lockdown 1, from 23 March 2020 closure of all non-essential shops. Hence beating that comparative is not quite as good as it sounds - although physical shops were closed for almost all of Q4 in 2021. Comparisons are difficult. Maybe it would have been better to use comparatives from 2 years ago, as Next has done? Online sales are growing nicely - this is a key thing I look for, as retailers have to be able to demonstrate a successful shift to selling online, to be investable, in my opinion. In FY 04/2021, SDRY sold £203m online, up 34% on last year, and that’s 36% of the total sales - starting to look interesting! Gross margin - SDRY is trying to sell at full price, instead of discounting. It says this was successful in Q4 - … our commitment to a full price stance over the period has seen significant online margin improvement. That’s encouraging, but remember that retailers don’t price discount product because they want to, they drop prices because they have to, to shift slow-selling lines. Therefore, we need to see strong sales, combined with strong margins. Otherwise, everything not sold is just dumped into the end of season sale at half price, in July. Therefore, sticking to full price at this stage could just be deferring the gross margin problem. Time will tell on that. I tend to find that SDRY announcements are full of upbeat comments, and aspirations, but with not much concrete evidence that the business has actually turned around. Remember it was struggling, and trading around breakeven, before the pandemic struck, so it’s got a mountain to climb to get anywhere near being a profitable business again. Liquidity - good, but what about all the deferred creditors, such as VAT, etc? It's curiously silent on that important point. Our liquidity remains strong, with closing net cash ahead of last year and our facilities remain undrawn. Re-opening - going well, but no figures provided - The early signs following the reopening of our UK stores are encouraging, as lockdown restrictions start to lift, and we can clearly see the light at the end of the tunnel. In short, we are on track with our reset of the brand and there's a lot to look forward to." Rents/leases - this is the biggest issue - it’s locked into a load of flagship, big rent stores. Some have been renegotiated, and big reductions in rents, but what about all the others? Renegotiated a further 48 leases (~1/5 of the estate) in FY21 achieving a weighted average saving of 52% (65 lease negotiations have now been completed in total), in addition to substantial one-off Covid-related rent waivers. We’ll have to wait until the actual results come through, to properly assess the situation. For all my criticisms of it, IFRS 16 does have some use when looking at struggling retailers, to see the extent of the leasehold commitments. Its big failing though, is that IFRS 16 doesn’t distinguish between lease commitments on profitable and loss-making shops, which is what actually matters! A lease is only a problem if you’re trading at a loss from that site. If it’s trading profitably, then the future lease liabilities don’t matter. Wholesale - this is better than I was expecting - Positive signs are being seen across Wholesale, with in-season orders up 142% and SS21 forward orders up 10% in Q4 year-on-year, both driving an overall increase in Q4 21 which is up 13.5% year-on-year. Cash collection has tracked ahead of expectations, making a significant contribution to year-end net cash. Wholesale FY21 revenue was down (19.9)% year-on-year, with our partners suffering the same headwinds in physical trading locations and carrying forward higher levels of stock than normal. Outlook - no figures given, so investors are in the dark about the current level of trading losses. SDRY left wildly inaccurate forecasts in the market for a long time. I reckon it’s heavily loss-making at the moment, because it didn’t make any money before the pandemic - There remains significant uncertainty given the varying impacts of the pandemic in our markets particularly to the trajectory and phasing of the consumer recovery. However, we are confident of growth in FY22 revenue and profitability compared to FY21 assuming no further material national store lockdowns and a continuing recovery in footfall and consumer demand through the period. Profitability will be supported by higher gross margins from our restored full price discipline and positive operating leverage from reduced store costs, partially offset by the end of government support and our ongoing brand marketing investment. My opinion - mixed. First the positives - I’m impressed with the growth online, and wholesale has fared better than I expected. Liquidity is OK for now, but we’re not told what all the backed-up creditors are, which is crucial information omitted from this update. Negatives - SDRY was struggling before the pandemic, with its highly profitable glory days well behind it. Big-rented flagship stores remain a millstone, although some progress is being made on renegotiations. Again, we’re only told the positives, not the full picture. SDRY updates do read as mainly PR material, not giving any indication of overall profitability, or the true underlying liabilities. They can’t hide these points when the full year numbers come out, so there's a good case for investors banking the profits before the numbers are published, as I reckon they’ll probably not look very nice. Checking the last (interims) balance sheet again, it looks to me as if there’s too much in inventories, and maybe some provisions for bad debts might be needed against the large receivables book? Lease liabilities are horrendous, at nearly £300m, with only £111m in right of use assets, showing the key importance of getting out of those leases, wherever possible. That could takes years, and be very expensive, and is likely to be a dead-weight on this company for years to come. Overall, I think the company is right to say that there’s light at the end of the tunnel. My assessment is that it looks unlikely to go bust, and has managed so far without having to dilute shareholders at all. That could come later though, as once everything’s back to normal, and creditors have to be paid, new stock bought, etc, then the cash pile and borrowing facilities are going to be needed. It’s been a good trade so far, on survival & hopes for re-opening, but I think there’s still a lot to be proven about the long-term fundamentals, which remain weak, in my opinion. Let’s see what the actual numbers look like when they’re published. Today’s PR release is really just edited highlights, carefully avoiding mentioning anything about liabilities, or losses. Compare this with the Q1 update from Next (LON:NXT) today - it’s like chalk & cheese. Still, in a bull market, when everything's going up, do fundamentals matter? Not at the moment they don't! That comes later. .
manouk2
06/5/2021
16:39
Oh and well done all holders 🥂😉
john09
06/5/2021
16:39
UT on days high at 353.5p Tomorrow will be good
john09
06/5/2021
16:09
It’s going to shackle out the 350p sellers next then on top the next level
john09
06/5/2021
16:07
No doubt the Bank of England growth forecast helping today (and tomorrow no doubt!)
john09
06/5/2021
16:03
Gatemore have the inside track 👍 This is going to go up another fat chunk tomorrow
john09
06/5/2021
16:01
Incredible they managed to avoid dilution, truly exceptional management through crisis. Need to rebuild confidence, prove brand reinvigorated, etc, but on the front foot now
bbarry8
06/5/2021
14:46
lager - you appear to be regarding the absurd IFRS16-mandated accounting item of lease liabilities as debt. This is not debt, this is the capitalised value of all future rent payments over a number of years. People who know what they are doing back out these entries as they don't reflect commercial/financial reality. SDRY has net cash of £39m with £80m of undrawn facilities. Please could we have less of the scare-mongering.
tradertrev
06/5/2021
14:19
The LSE fundamentals as of Apr 20 as borrowings of 240m (non currentl) and 350m (current) liabilities.
lageraemia
06/5/2021
14:09
Net debt is the same as market cap or thereabouts?
lageraemia
06/5/2021
13:53
20% of that is cash!
john09
06/5/2021
13:48
Market cap still only £270 million
buoycat
06/5/2021
13:41
Calm down, you’ll get Bozo jealous.
belo horizonte
06/5/2021
12:46
It’s still going now . Fantastic
john09
06/5/2021
12:16
If you’re in any doubt, after a rise like this, it’ll clearly go up more tomorrow
john09
06/5/2021
11:05
Plenty of strength above 320p isnt there
john09
06/5/2021
10:43
🥂 well done to all holders
john09
06/5/2021
10:43
Agree And if they havent seen the brand refresh then they are looking backwards not forwards 👍
john09
06/5/2021
10:28
Nothing more pointless than day traders arguing about youth fashion
ade45
06/5/2021
10:20
What a brilliant day
john09
06/5/2021
10:12
RMOT., that a manufactured moniker you have conjured up from the bowels of ur brain, I’ll inform the Oxford University Press to make a note.
bookbroker
06/5/2021
10:01
Taken a nice turn on the traders bought this AM. Core holding intact.
onjohn
06/5/2021
09:58
£5 next target here
onjohn
Chat Pages: 73  72  71  70  69  68  67  66  65  64  63  62  Older
ADVFN Advertorial
Your Recent History
LSE
SDRY
Superdry
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20210506 16:35:39