15225 replies to this topic

[Milo]

Yes shops like Ackerman’s are affordable and the quality is also good.

[DayTraderDad]

https://en.wikipedia.org/wiki/Edcon

"

Following the private equity takeover, Edcon had a succession of CEOs, lost significant market share, and struggled with an oversupply of leased floorspace. This was partly due to an increase in cheaper imported clothing and the increasing move to online shopping by customers.^[12]

In 2016 the company recorded a net debt of R24.7 billion and was temporarily taken over by debtors to avoid financial collapse.^[13] This resulted in the closure of 253 stores by 2018 as part of a recovery plan^[14] and by 2017 the company had reduced its level of net debt to R4.2 billion. In July 2018 Edcon announced that it was closing its Boardmans homeware and La Senza stores.^[13]

In December 2018 it was reported in the Sunday Times^[16] that Edcon and its subsidiaries were on the brink of financial collapse and was seeking a deal with mall owners to reduce rental payments.^[17] Edcon disputed the reports but did state that it was working towards a eliminating company debt and a deal to prevent the closure of its stores.

"

 

However now they are closing big shops in important malls, I guess they might try to reopen in these malls in smaller shops (if they can).

I hope they get it right would be a sad day if they go under. They have been with one foot on the grave and the other on a banana peel for a longtime and competition at that segment of market is very tough.

[Tom]

EDCON has a bad business model big shops with very few customers inside. I walked through the Somerset Mall ( In Cape Town not PE) during xmas period and EDGERS was very empty but Ackermans and PEP had a good flow of customers.

 

https://en.wikipedia.org/wiki/Edcon

"

Following the private equity takeover, Edcon had a succession of CEOs, lost significant market share, and struggled with an oversupply of leased floorspace. This was partly due to an increase in cheaper imported clothing and the increasing move to online shopping by customers.^[12]

In 2016 the company recorded a net debt of R24.7 billion and was temporarily taken over by debtors to avoid financial collapse.^[13] This resulted in the closure of 253 stores by 2018 as part of a recovery plan^[14] and by 2017 the company had reduced its level of net debt to R4.2 billion. In July 2018 Edcon announced that it was closing its Boardmans homeware and La Senza stores.^[13]

In December 2018 it was reported in the Sunday Times^[16] that Edcon and its subsidiaries were on the brink of financial collapse and was seeking a deal with mall owners to reduce rental payments.^[17] Edcon disputed the reports but did state that it was working towards a eliminating company debt and a deal to prevent the closure of its stores.

"

 

However now they are closing big shops in important malls, I guess they might try to reopen in these malls in smaller shops (if they can).

It sounds to me that they have done similar mistakes to what Steinhoff did.

Edited by Tom, 05 February 2019 - 04:12 PM.

[DayTraderDad]

 

Ha ha the right shoulder will be confirmed around R 2.06 but it’s starting to look good. Like it

 

Yes I think there is no appetite for short sellers and there are buyers accumulating interesting times! Hourly graph showing strong up for Frankfurt.

[DayTraderDad]

https://www.moneyweb...-r3bn-lifeline/

EDCON has a bad business model big shops with very few customers inside. I walked through the Somerset Mall ( In Cape Town not PE) during xmas period and EDGERS was very empty but Ackermans and PEP had a good flow of customers.

[Milo]

Hi Milo looks like the right shoulder now confirmed its looking good for a upward run!

 

 

Ha ha the right shoulder will be confirmed around R 2.06 but it’s starting to look good. Like it

[Tom]

https://www.moneyweb...-r3bn-lifeline/

[Tom]

https://www.moneyweb...as-ceo-resigns/

[DayTraderDad]

One day yes one day ill post something here from the archives  of this forum where i made someone exactly like this eat his words and the proof is here in this forum...

its a nice story to learn from but dont feel like it to post now as alsi line in sand now and im trading it, but once posted someone will look silly again....

Yes Polly I agree will be here to call your bluff!!! 

[Polly]

Hi Polly,

 

 

Do you know of any streetwise investor managing a large hedge fund?  How about a pension fund or mutual fund?

 

Streetwise smarts tops academic assessment, huh?

 

 

Best Regards

Captainfrom82

One day yes one day ill post something here from the archives  of this forum where i made someone exactly like this eat his words and the proof is here in this forum...

its a nice story to learn from but dont feel like it to post now as alsi line in sand now and im trading it, but once posted someone will look silly again....

[leo]

Go on... Pump.... Lets hope for some movement as well as some news from snh... So we can start having constructive dialogue around limited information...

Personal view... There is room for this share to double up or down... But the worst may have been priced in.... Saying that... Zero is an achievable number... As well as r3. 80....

Tata MA chance

Sent from my SM-G950F using Sharenet Sharechat mobile app

Sorry bud. The pump is over....

Sent from my SM-G935F using Sharenet Sharechat mobile app

[Investment novice]

Hi Milo looks like the right shoulder now confirmed its looking good for a upward run!

Go on... Pump.... Lets hope for some movement as well as some news from snh... So we can start having constructive dialogue around limited information...

Personal view... There is room for this share to double up or down... But the worst may have been priced in.... Saying that... Zero is an achievable number... As well as r3. 80....

Tata MA chance

Sent from my SM-G950F using Sharenet Sharechat mobile app

[DayTraderDad]

Yes either going to be good or little bit bad I hope

Hi Milo looks like the right shoulder now confirmed its looking good for a upward run!

[Polly]

 

 

Best you don't invest your pension or RA in a qualified financial planning business.

 

Best Regards

Captainfrom82

 no pension fund, no ras and no medical aid...

 

self sufficient!!!!!!!!!!

[DayTraderDad]

That's  a new one.....

Exactly the only reason SNH landed in this situation was the long term debt became short term due to the delay in the financials. I an not an accountant yet I know that!!!

[DayTraderDad]

and to be honest i havennt looked at the  past afs and even the lockup agreement..Now when Tom posted that , it basically reinforces what ive been thinking... This company is now at the mercy of its creditors....It cant really do what it wants...hands are tied!!!

Polly I actually had to read this a couple of times and its unbelievable that a person can have a opinion without being fully informed!! Its behind words. The only reason this can be possible is you either enjoy or being paid to generate fake news!!

[Polly]

All companies are at the mercy of their creditors...

That's  a new one.....

 

Thanks for educating me...

Edited by Polly, 05 February 2019 - 12:43 PM.

[Captainfrom82]

and to be honest i havennt looked at the  past afs and even the lockup agreement..Now when Tom posted that , it basically reinforces what ive been thinking... This company is now at the mercy of its creditors....It cant really do what it wants...hands are tied!!!

 

All companies are at the mercy of their creditors...

[DayTraderDad]

Hi Polly,

 

You ever wondered why a qualified financial advisor or a fund manager is compelled by law to use "financials models, spread sheets , complex calculations , forward projected non nonsensical earnings and cash flow"?

 

Do you know of any streetwise investor managing a large hedge fund?  How about a pension fund or mutual fund?

 

Streetwise smarts tops academic assessment, huh?

 

Best you don't invest your pension or RA in a qualified financial planning business.

 

Best Regards

Captainfrom82

Well put Captain just like I said only fools think they know everything!!!

[DayTraderDad]

and to be honest i havennt looked at the  past afs and even the lockup agreement..Now when Tom posted that , it basically reinforces what ive been thinking... This company is now at the mercy of its creditors....It cant really do what it wants...hands are tied!!!

AS usual you forgot to finish this is until restructure is complete!!!