I Read The News Today Oh Boy! 13-Dec-2018

Thursday, Dec 13 2018 by
16

Morning all!

Bonmarche Holdings ( Bonmarche Holdings (LON:BON) ) – 80.5p – £40.3m – PER 8.35

Trading Update – Black Friday blamed, Brexit blamed, sales down – Will not recover until end of March 2019. PBT to be break-even at best up a loss of -£4m. Cautions on progressive dividend policy even though says it has enough cash to see it through (for now).

The last update stated “FY to be in-line IF Black Friday and Christmas go well”, I commented “a decent yield… Still a tough call to get involved especially if Black Friday and Christmas do not deliver”. Caution pays sometimes!

Koovs ( Koovs (LON:KOOV) ) – 8.85p – £31.5m – PER n/a

Interim Results For The 6 Months To End September – Raised £45m but it seems it's the only thing on the up. ”The Group has begun to rebuild stock levels and resume marketing activities, delivering encouraging green shoots”.

My daughter can deliver encouraging green shoots with some seeds, water, cotton wool and a bit of sunlight.  Will be interesting to see who’s look better in a few months time!

Nanoco ( Nanoco (LON:NANO) ) – 37.2p – £106.4m – PER n/a

AGM Statement – Trading in the first 4 months of the year means confident of meeting FY targets.

Will wait to see how the results for this current loss maker come in – Most unlikely I will be getting involved until it first proves it can make a profit.

RhythmOne ( RhythmOne (LON:RTHM) ) – 177.2p – £139.3m – PER 3.71

Unaudited Results For The 6 Months To End September 2018 – Revenue up 53% and Loss greatly reduced. Trading is considered to be in-line.

Remains a case (for me) of waiting to see a FY profit here (perhaps this year!).

As always, all comment most welcome!

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Bonmarche Holdings plc is a multi-channel retailer of womenswear and accessories. The Company offers clothing and accessories in a range of sizes for women through its own store portfolio, Website, mail order catalogues and through the Ideal World TV shopping channel. The Company's subsidiaries include Bluebird UK Topco, Bluebird UK Holdco and Bonmarch Limited. The Company has approximately 310 stores across the United Kingdom. more »

LSE Price
8.5p
Change
 
Mkt Cap (£m)
4.3
P/E (fwd)
3.9
Yield (fwd)
18.2

Koovs plc is a supplier of branded fashion garments and accessories for sale by a third party through Koovs.com Website principally in Republic of India. The Company offers dresses, tops, jumpsuits and playsuits, skirts, trousers and leggings, cardigans and pullovers, lingerie and sleepwear, and swim and beachwear, among others, for women. It offers shirts, t-shirts and polo shirts, vests, jeans, jog pants, shorts, hoodies and sweatshirts, coats and jackets, and innerwear and socks, among others, for men. In addition, the Company offers bags and wallets, accessories, sunglasses, jewelry and watches. The Company offers its products of various brands, including Knockaround, KOOVS, Kultprit, Pataaka, Pepe Jeans, Shuffle, Sole Threads, Vans, Voi Jeans, Modello Domani and Mr Button, among others. The Company's subsidiary is Koovs Marketing Consulting Private Ltd. more »

LSE Price
5.8p
Change
-0.9%
Mkt Cap (£m)
23.5
P/E (fwd)
n/a
Yield (fwd)
n/a

Nanoco Group PLC is engaged in research, development and manufacturing of heavy-metal free quantum dots and semiconductor nanoparticles for use in display, lighting, solar energy and bio-imaging. The Company's products include Cadmium Free Quantum Dots (CFQD), CFQD quantum dot films, and copper indium gallium di-selenide (CIGS)/copper indium di-selenide/sulfide (CIS) nanoparticles. The Company's CFQD Quantum Dot Films features include ability to vary blue/red ratio per film; managing heat; customizable size and shape available, and designed to work in conjunction with light emitting diode (LED) from a range of 405 nanometers to 455 nanometers as required. The Company's CFQD quantum dots is a platform technology, which has various applications, including flat screen displays, LED lighting and bio-imaging. The Company's CFQD technology operates in display market, which includes televisions, monitors, notebooks, tablets and smartphones. more »

LSE Price
11.5p
Change
6.5%
Mkt Cap (£m)
32.9
P/E (fwd)
n/a
Yield (fwd)
n/a



  Is LON:BON fundamentally strong or weak? Find out More »


5 Posts on this Thread show/hide all

MrContrarian 13th Dec '18 1 of 5
7

My morning smallcap tweet: Bad BON belches extra black Black Friday.

WANdisco (LON:WAND), Infrastructure India (LON:IIP), Bonmarche Holdings (LON:BON), Tungsten (LON:TUNG), Braveheart Investment (LON:BRH), LXB Retail Properties (LON:LXB)

WANdisco (WAND) wins its largest ever cloud contract, with a major US health insurer. $3m over 3 years.
Infrastructure India (IIP) NAV/sh continues steep fall. Now 21p, down 7p in six months. Blames weak Rupee and delays to the completion schedules at Distribution Logistics Infrastructure.
Bonmarche (BON) warns U/L pretax -£4m to breakeven. Blames Brexit. Are people really not buy clothes due to that?
Tungsten (TUNG) H1 rev up 3%. Cuts FY rev guidance to £36m to £36.5m. Guides FY EBITDA 'profit', as a result of reduced adjusted operating expenses.
Braveheart Investment Group (BRH) several approaches to either buy the fund management business or enter into JV.
LXB Retail Properties (LXB) plays Satan Claus on holders' Xmas with yet another cut in NAV guidance from 14.5p-16.5p to 11.5p-13.5p before a proposed 6p payout.

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Edward John Canham 13th Dec '18 2 of 5
4

"My daughter can deliver encouraging green shoots with some seeds, water, cotton wool and a bit of sunlight. Will be interesting to see who’s look better in a few months time!"

Thank you ! Always good to start the day with a laugh - and a bit of nostalgia.

Phil

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andrea34l 13th Dec '18 3 of 5
5

Bonmarche Holdings (LON:BON) down 35%, wow!! I have to say that, of all the companies that I can think of, they have a catalogue of things to blame their performance down to. Maybe they should try looking INTERNALLY - the stores that I have been in are rather cluttered and frankly bland, their clothes are not aimed at the young and trendy but more middle-aged I feel but even so the majority are either bland or horrendous bold patterns more appropriate for curtains, and the nicer items that are sometimes advertised in pictures in the stores are not even available in them!! Their in-store LFL figures have been for a while quite atrocious. They have a nice loyalty card system though... but a shame that many will perhaps just not buy enough to warrant it. I did buy a couple of pretty nightdresses in their (which, before anyone's imagination runs riot, weren't racy, but pretty but functional) as well as a nice T-shirt with a subtle but different star design. But I can't see myself racing to shop their on a frequent basis. Oh, Mr C, I really don't think people would not buy here due to Brexit, their prices are perfectly reasonable enough.

I think this is a classic example of a company one should ignore due to high dividends (which are going to prove unsustainable, just like they were for Debenhams) and a big management blame culture.

p.s. since I started writing this, price now down 45%!!!

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Fegger 13th Dec '18 4 of 5

In reply to post #426993

It is like the restaurant sector. There is massive overcapacity in the clothing market especially with the ability to buy online around the world. For example MoneySavingExpert now rightly advises to buy direct from China on AliExpress Ebay and similar sites and lots of us are doing that. For many items you can achieve large savings and it is reliable.

Again like the restaurant sector the fittest will survive and sadly I do not think BON will be among them. Glad I sold on a previous warning and have no intention of getting involved again. I am still invested in M and S and Next and favour their quality and the fact that they offer a wider range than clothing . It is a tough market though for everyone

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andrea34l 13th Dec '18 5 of 5
1

In reply to post #427038

Purely based on product, I would favour Next over M&S as I think recent seasons from M&S have been abismal; however, they are propped up by their premium food offering that I know is liked by some of my friends.

I can see the commonality with over capacity, but I don't get the advice from MoneySavingExpert about buying clothes from China. Personally, when I buy clothes, I want to be able to try them on, preferably in a store so that I can potentially pick up other things that match and try them on as an outfit. I do buy online from New Look and Dorothy Perkins on occasion, but this is because free delivery is available and returns are really easy. Personally (perhaps just cos I'm a woman), I DO like the pre-existing concept of walking around different stores and trying on clothes; I don't get the same pleasure whatsoever from buying online, though what I do appreciate is that online (for example, from the brands I quote) one is able to access a wider variety of clothes to pick from... and very likely in the size I want to!!

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