15225 replies to this topic

[Squideye]

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Paxi-diens maandeliks sowat 100 000 pakkies in sy netwerk van winkels gestuur. Dit het nou verdriedubbel.

In die afgelope belastingjaar het Paxi meer as 1,9 miljoen pakkies gekarwei wat groei van 120% op ’n jaargrondslag is.

Pep Stores bied die toonbank-tot-toonbank-diens sedert 2018.

Pakkies word op dieselfde afleweringsvoertuie gelaai wat produkte na Pep-winkels landwyd neem en die ontvangers kom haal dit by die toonbank af. Daar is nou meer as 2 200 Paxi-punte in Pep- en Shoe City-winkels landwyd, sê Silke.

Die plan is om die netwerk uiteindelik uit te brei na die meer as 5 000 winkels wat Pep, Ackermans, Tekkie Town en Refinery insluit.

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Volgens Silke het die gebruik van die Paxi-diens die meeste in Johannesburg en die Durbanse stadskern toegeneem. Die besigste oplaaipunte is winkels in die Oos-Kaap en veral in Mthatha, Alice, Butterworth en Oos-Londen.

Kliënte word per SMS, die Paxi-bot en -webblad op hoogte gehou van waar hul pakkies trek.

Pakkies in twee groottes kan gestuur word en daar is ’n keuse tussen ’n standaard- en ’n sneldiens. Pryse wissel tussen R59,95 en R119,95. Silke sê teen R59,95 is dit ’n uiters bekostigbare manier om pakkies van tot 5 kg te stuur.

Baie klein sakeondernemings gebruik die diens om pakkies na hul klante te stuur. Sedert Paxi begin het, is sowat 10 000 klein ondernemings geïdentifiseer wat pakkies op dié manier by hul klante kry.

Afleweringstye wissel volgens die opsie wat die versender kies.

Die opsie van sewe tot nege dae is gewild, maar Paxi bied ook ’n diens van drie tot vyf dae.

 

https://www.netwerk2...eskuit-20201128

[Squideye]

Pepkor gets peppy after halving its debt.

Though spectre of Steinhoff could still haunt the resilient retailer.

Pepkor, which slashed its debt by half in the year ended September 30, now finds itself in the enviable position of having a manageable balance sheet that could enable it to expand or make acquisitions.

 

This is a far cry from the days when Steinhoff pushed up to R14.1bn debt onto Pepkor's balance sheet in the years following its acquisition of the retailer for about R63bn more than five years ago...

 

https://www.business...lving-its-debt/

[DeltaHedge]

I am thinking to top up another 50k

[Squideye]

Bad debts bite at discount retailer Pepkor

 

A robust business model with extraordinary levels of cash generation should make Pepkor a compelling value proposition. But structural and fundamental weaknesses in the SA economy undermine this.

 

https://www.dailymav...etailer-pepkor/

[Squideye]

Bad debts bite at discount retailer Pepkor

 

A robust business model with extraordinary levels of cash generation should make Pepkor a compelling value proposition. But structural and fundamental weaknesses in the SA economy undermine this.

 

https://www.dailymav...etailer-pepkor/

[Squideye]

From Germany...

 

Highcourt clears the way!

 

Steinhoff International Holdings NV reported on the status of the settlement offer, most recently at the beginning of November, and today the company is providing an update on the status of the proceedings. Another important milestone have been reached.

 

As a reminder, the issue was that under British law, for some of the individual liabilities exactly 100% agreement of all creditors to the submitted settlement proposal was required for the Steinhoff aggrieved parties. Furthermore, Steinhoff announced that if this quota - which seems impossible in view of the situation - is not reached, there is a legal procedure to reduce the quota to such an extent that the "overall project" settlement can be saved. However, a time delay until the completion of the settlement at the beginning of next year must be accepted.

 

It is clear to everyone: without a settlement, Steinhoff definitely has no future,

with comparison - as it now stands - Steinhoff could "just get around the bend". The debt burden is immense and is currently being paid far too dearly. But the high interest rates are also rooted in the risk of survival due to the threat of shareholder and lender lawsuits. If these are dropped as a result of the settlement, it should also be possible to reduce the interest burden considerably.

 

So everything depends on the settlement and its acceptance by the creditors, because  there are certainly a number of interesting investments with high growth rates and ambitions in the operating area of the "healthily shrunken" group - albeit slowed down by Corona. Pepkor South Africa is a trading group listed on the stock exchange, which was strengthened during the crisis, is growing organically and has been able to continuously increase its market share. Mattres Inc. has been freed from various legacy liabilities by the Chapter 11 proceedings and is starting to run smoothly again - again, of course, due to corona-related restrictions.

 

And the Australian dealers have also given up "ballast" and much low-margin sales and are now more focused and healthier. The same applies to the various levies on non-Hnadles activities, such as British furniture manufacturers, South African car dealers and workshops. And without the loss-making Conforama France/Switzerland, which could be knocked off at a symbolic price, healthy Conforama dealers will remain in the group. There is probably no need to say anything more about Pepco as a growth pearl - although the multi-billion (partial) IPO has not yet been realised, it is still possible that it will not be............................................>>>

 

https://www.nebenwer...t-den-weg-frei/

 

Translated with www.DeepL.com/Translator (free version)

[Squideye]

Moodys Credit Rating Action on PEPKOR

 

https://www.sharenet...0&seq=15&scode=

[Sleepwa123]

https://www.sharenet...seq=6&scode=SNH

 

Some movement on the lender consent agreements.

[DeltaHedge]

"Global settlement" of litigation claims in one go.
Its currently in progress and hopefully it will be completed by end of March 2021.

 

Lets hope and pray, after this is sorted i cant see why it cant have a 6 bucks price tag

[andi222]

"Global settlement" of litigation claims in one go.
Its currently in progress and hopefully it will be completed by end of March 2021.

[Africa1962]

Seems like the risk is still too high regarding the GS of Steinhoff.

Once this is done and all litigations settled the share price of Pepkor and all valuations of the underlying operations will rise sharply.

I think it is clever to defer the IPO till after the GS. It will bring some extra bucks.

Also noted on the side due to MF obtaining a credit rating their interest rate on their loan just dropped from 1000 points to 525 points. That's a huge cut.
Hopefully this will also happen once the GS is complete and Steinhoff gets a credit rating from Moodeys/Fitch or S&P.

https://news.bloombe...t-with-new-loan

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sorry for stupid question...what is "GS"

[andi222]

Seems like the risk is still too high regarding the GS of Steinhoff.

Once this is done and all litigations settled the share price of Pepkor and all valuations of the underlying operations will rise sharply.

I think it is clever to defer the IPO till after the GS. It will bring some extra bucks.

Also noted on the side due to MF obtaining a credit rating their interest rate on their loan just dropped from 1000 points to 525 points. That's a huge cut.
Hopefully this will also happen once the GS is complete and Steinhoff gets a credit rating from Moodeys/Fitch or S&P.

https://news.bloombe...t-with-new-loan

Sent from my SM-G973F using Sharenet Sharechat mobile app

[Squideye]

Greenlit Brands pulls Fantastic Furniture float.

 

Retailer Greenlit Brands has pulled plans to float Australian furniture business Fantastic Furniture.

It is understood the group pulled the plans on Thursday morning, on the same day its brokers were due to ask investors to buy shares.

Fund managers said Greenlit Brands and its brokers were talking about a deal at nine to 11 times profit earlier in the week, while the discussions were drifting towards 9-times and even lower on Wednesday night.

At those levels, which implied a $430 million to $530 million equity value and given investor concerns, Greenlit opted to cancel the float plans.

Rival listed furniture company Nick Scali is trading at 12.5-times next 12-month profit according to S&P Global Market Intelligence, while Harvey Normal Holdings is at 11.7-times and Adairs is at 12.9-times.

Fund manager concerns centred about the broader retail environment and market dynamics through Fantastic's financial forecast period.

While they could see that Greenlit had done well to reposition the business, including its strong e-commerce sales growth, they reckon it's hard to predict what the economy and consumer sentiment will look like this time next year.

Fundies expect to see it again next year. It is understood brokers Credit Suisse and Macquarie Capital delivered potential investors the news on Thursday morning, as they were scheduled to open a bookbuild.

Greenlit, which is the rebadged Steinhoff Asia Pacific, was expected to seek to raise $200 million to $300 million to float the business.

 

https://www.afr.com/...20201126-p56i4q

[DayTraderDad]

DEALZ growing:

 

irishhttps:/https://www.irishtim...-park-1.4412773

[andi222]

NAV of John Craig is at 38 Million Rands. Doubt we will get more then this 38 Millions Rands.

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[andi222]

Thanks for the great articles.

What do you think is the price of the disposal? I saw there where 100 stores. I will try to see how much revenue and EBITDA they have produced.

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[Squideye]

Studio 88 to buy Pepkor’s John Craig.

Value of the deal was not disclosed.

Studio 88, an independent footwear and clothing retailer, will buy formal men's wear dealer John Craig from Pepkor.

The value of the deal was not disclosed. Pepkor said earlier this week it was selling the company as the retailer did not “represent a strategic fit with the group’s main business proposition of supplying discounted value-added products to its customers”...

 

https://www.business...ors-john-craig/

[Squideye]

Pepkor to sell John Craig as demand for formal men’s wear declines

Group in talks with a potential buyer as focus shifts to growing its middle-income brands.

Pepkor is selling men’s fashion retailer John Craig as the appetite for expensive brands and formalwear wanes. The sale comes as the group plans to focus on growing its middle-income brands, such as Refinery that sells adult clothing.

Pepkor CEO Leon Lourens said the company is in talks with a potential buyer, though the details have not been released.....

 

https://www.business...-wear-declines/

[Investment novice]

Naidoo self funding his interest paid a commission in millions for setting up deals for pic.....needs investigating...not sure why we have tolerated this . I have been vocal about this chap years back ......who is protecting him....whats his share of the blame....

[Investment novice]

How does the ipo impact the carrying value. What percentage of this will steinhof still own....whats the net impact. C0nsidering proceeds will be used to fund growth...