Occupation: Private Investor
Interests: Emerging Markets, European Markets, International Stocks, Stocks, US Market
Location: United Kingdom
When you look at other large retailers, many of whom trade at a multiple of well under 10, the valuation attached to Fishing Republic (LON:FISH) just looks crazy.
The £112b opening offer was derisory to say the least.
The most recent annual report says he is entitled to 12 months salary, which means another £360k goes out the door for a company that is already in breach on banking covenants. That is a real kick in the teeth for suffering shareholders.
ST Ives (LON:SIV) came out with results on Wednesday, I notice Paul didn't cover it. It's one I have on my radar, although I have never owned, nor would want to really hold long-term. However it does look like a share that you can buy when it's cheap and sell when it recovers. Thoughts?
I suspect that BooHoo management have gotten some advice from their bankers on the taking on some debt. In this instance, I don't think taking on a small amount of debt is anything to worry about. If anything, it's probably a smart move. A $20M (£16M) credit facility is really nothing when you look at the big picture. Boohoo have done about £300M of revenue…
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