nk1999
20 Apr 2018
Re: info malj1: "If Debenhams didn't exist, would this be anything you would bother to create? For me the answer is no. "I think that can be said about 50% of the companies?
malj1
20 Apr 2018
Re: info 'Margins are shot to pieces.' Quite. Car crash. Prospective cash flow awful & looks incipiently insolvent to me. Another BHS in the making. If Debenhams didn't exist, would this be anything you would bother to create? For me the answer is no.
forwardloop
20 Apr 2018
info [link] brief article mentioned closeness of debt covenants
Gooffy
19 Apr 2018
Sold out CFO leaving did it for me and isnt restrucuring supposed to improve profit?Been a bad share for me final kick in teeth is its up now.So it's bye from me never to return will stick with trading lloyds which consisantly delivers income and capital appreciation.It might do well but I sense Mr Amazon only knows on line and I know someone who works there wish he would get on with it rather than experiement all the time, we can all guess at what to do, I wonder if Archie at Marks will experiement I doubt it somehow, anyway good luck it you are holding
Radaking
19 Apr 2018
disappointed? I`d be disappointed if the results from deb were not disappointing,seeing as they are never anything but.Their fashion is to pricey and mostly bland.The only thing worth hanging around for is the div and that may be only a matter of time before it gets whacked completely.Staying in for now with a 77% loss showing,but will bale if the div goes completely...............
schwee
19 Apr 2018
Re: DEBENHAMS PLC - INTERIM RESULTS I have always thought the previous CEO had the correct strategy of managing the business for cash. He got debt on a sustained downward trajectory as he recognised that department stores had had their day, except perhaps JLP.Only hope is for Mike Ashley to take the plunge.
TX2
19 Apr 2018
Re: DEBENHAMS PLC - INTERIM RESULTS Unfortunately as expected.The business is simply not viable with its present store portfolio;the only solution is a CVA to shed unprofitable stores & reduce rent and lease length on others that have a future.There will need to be a substantial fund raising along side this;so it is difficult to see any value in the shares especially for private investors as they may be cut out of the refinancing.
pyueck
19 Apr 2018
Re: DEBENHAMS PLC - INTERIM RESULTS And the CFO has thrown in the towel, hardly fills me with confidence. I don’t understand how this turnaround strategy will get Debenhams out of this hole. At this current rate who says next year the results won’t slip to a loss, and from there is there any way back?
idontwanttolose
19 Apr 2018
DEBENHAMS PLC - INTERIM RESULTS Disappointing!!!!!!!!!!!!!!!!!!!!!!!!!DEBENHAMS PLC - INTERIM RESULTSAccelerating Debenhams Redesigned strategy in a fast-changing marketDebenhams plc, the international department store destination, today announces interim results for the 26 weeks to 3 March 2018.Strategic UpdateAccelerating Debenhams Redesigned strategy.· Strengthened senior management team with key hires at all levels including new MD of Fashion & Home· Delivered Digital growth ahead of the market, driven by website improvements and mobile platform acceleration· Encouraging results from new store format trials, roll out of activity to cover c.35% of UK store sales base· Established partnerships in furniture with Maisons du Monde and Swoon, as we continue to test profitable opportunities to deliver exciting new products and services to our customers Focusing on five priority actions to mitigate fast-changing market conditions and drive progress in FY2019:1. Delivering above-market digital sales growth driven by technological change focused on mobile2. Sustaining leadership in Beauty through innovative customer engagement both in-store and online3. Revitalising fashion product under new leadership, with Designers@Debenhams refresh under way4. Changing in-store experience for customers both through redesigned service model and store presentation5. Accelerating cost-reduction activity to underpin additional annualised savings of £20m identified in January 2018 Financial and Operational Highlights26 weeks to 3 March 2018 (£m)H1 FY18HI FY17 YOY % changeGroup gross transaction value1,650.11,676.5 (1.6%)Group EBITDA*103.5149.1 (30.6%)Underlying profit before tax*42.287.8 (51.9%)Reported profit before tax13.587.8 (84.6%)Underlying EPS* (p)2.85.8 (51.7%}Dividend per share (p)0.50p1.025p (51.2%)Net Debt248.2216.9 14.4%*before exceptional charges of £28.7m· Like-for-like sales ("LFL"
declined 2.2% with constant currency LFL at (2.8%), against a challenging UK market background. The final trading week was disrupted by extreme weather conditions, temporarily closing almost 100 stores during our New Season Spectacular. This is estimated to have reduced LFL by c.1.0% for the half· Digital growth of +9.7% continued to outpace the overall market, driven by further strong growth in mobile and improved conversion rates. Our Destination categories of Beauty and Food also delivered positive growth, whilst we have held share in a weak Clothing market· A disappointing Christmas season saw an increase in competitor discounting. Group gross margin rate declined 160 bps reflecting clearance of Gift ranges and management of seasonal stocks in reaction to this environment· This has impacted UK EBITDA, which declined 39.3% whilst International EBITDA grew by 2.6%, with Magasin du Nord in Denmark delivering further progress· Underlying profit before tax of £42.2m is stated before exceptional charges in relation to Debenhams Redesigned strategy of £28.7m but after higher depreciation costs associated with investment in the strategy· Net debt was £248.2m and the Group had headroom of £271.8m on its committed £520m financing facilities· The Board has decided, in line with our stated priorities for capital and targeted earnings cover of around 2x, that the interim dividend will be rebased to 0.50p per share· Based on our current view of the second half of the financial year, FY2018 PBT is expected to be at the lower end of the current range of broker forecasts of £50m to £61m[1] Sergio Bucher, CEO, commented: "The UK retail environment is undergoing profound change, and with the help of some important new senior hires, we are moving faster and working harder than ever to ensure
Gooffy
18 Apr 2018
Re: sp ticking up a bit Not totally doing nothing, it will take time the concept store is using third parties so gyms, prosecco bars will come , also a layer of managers has gone, the coffee bar is bigger and busier. Food would be a good option get people in used to do it a long time ago. We will see tomorrow seems cheap at 20p with a large shareholding by Mike Ashley and he is down on it at mo
pyueck
18 Apr 2018
Re: sp ticking up a bit I have no idea what the results will be but a few retailers recently have bucked the dire trend from the likes of Mothercare.What I have never grasped with Debenhams management is that they understand the scale of the changes the business needs. Rearranging the deckchairs when the Titanic is sinking springs to mind.The share price is just over 20p, i.e. shareholders have been near wiped out but I don't feel like management have tried anything radical to stop the ship sinking. Trialing a few concept stores etc, is all I have really heard. While this may help in the long run, I feel based on the shareprice movement that unless firm decisive action is taken this company won't get the time to deliver such a sedate turnaround plan.I would like to see tomorrow a huge turnaround plan. Closure of unprofitable stores, negotiation of rent reductions etc (if Deb goes south then landlords will struggle filling these stores at all, so I think if you put landlords over a barrel they will shift).Personally I don't think their online presence in its current form is worth much at all, may as well close it down imho, unless they are going to take it seriously.Oh and the brand, it's tired and awful. Why not totally rename and rebrand the company and choose a new target market (i.e. maybe focus on workwear, weddings, fashion etc). It would be risky and bold but come on this company needs such a shake up. If not it wont exist.
LifeInPlastic
18 Apr 2018
sp ticking up a bit people anticipating reasonable news?
Gooffy
09 Apr 2018
Will probably drop Because I doubled up!Ho Ho
II Editor
27 Mar 2018
NEW ARTICLE: Where Debenhams and Facebook might be heading next "DEBENHAMS & FACEBOOK too (LSE
EB) (NYSE:SPY...)There is actually a pretty good reason we do not have a Facebook page. Aside from it being the cause of family meltdowns worldwide, we just don't like it! And when trying it out, the access demands ..."[link]
II Editor
26 Mar 2018
NEW ARTICLE: Trends and Targets for 27/03/2018 " DEBENHAMS & FACEBOOK too (LSEEB) (NYSE:SPY...) There is actually a pretty good reason we do not have a Facebook page. Aside from it being the cause of family meltdowns worldwide, we just don't like it! And when trying it out, the access ..."[link]
