15225 replies to this topic

[Squideye]

https://www.iol.co.z...79-bc3d14b9e124

[new john]

My goodness. Positive sentiment. Considering it’s behind pay wall.

Steinhoff on a roll: Its share price doubled since last month on good news streak https://www.news24.c...streak-20220111

[new john]

My goodness. Positive sentiment. Considering it’s behind pay wall.

Steinhoff on a roll: Its share price doubled since last month on good news streak https://www.news24.c...streak-20220111

[Tiekkie]

Steinhoff on a roll: Its share price doubled since last month on good news streak https://www.news24.c...streak-20220111

[sommerso]

Remember the gooooood old days like 2017 when they said matress firm was a fronting business for the gamgsters laundaring money.....2000 facilities.....they must diversify and open up sex hubs...loom just saying the beds are already there and the windows and the red branding..
Wonder how successful this ipo will be....

 

Please take this with a pinch of salt...

......... With all those beds... they could just rent it out as Only Fans hot desk environment......

Edited by sommerso, 10 January 2022 - 09:31 PM.

[Investment novice]

A good article on MF: https://www.pymnts.c...e-for-category/

Something I never thought which is becoming a reality in Europe:


"Reliance on Physical Spaces

With over 2,000 locations, Mattress Firm is also heavily invested in physical retail at a time when consumers are increasingly looking to shop digitally. The share of brick-and-mortar native shoppers has fallen by at least 10% since the pandemic began, while the share of online shoppers has grown by at least 17%, according to PYMNTS data."

Remember the gooooood old days like 2017 when they said matress firm was a fronting business for the gamgsters laundaring money.....2000 facilities.....they must diversify and open up sex hubs...loom just saying the beds are already there and the windows and the red branding..
Wonder how successful this ipo will be....

[Polla]

  Some Wall Street banks see four U.S. interest rate hikes this year... @ https://www.reuters....ear-2022-01-10/

It might materialize,.... but then also why I'm glad SNH is a Rand hedged share....

[Squideye]

  Some Wall Street banks see four U.S. interest rate hikes this year... @ https://www.reuters....ear-2022-01-10/

[Squideye]

And I love fanny in my face

Very fanny...

[DeltaHedge]

Haha Lionel for sure lots happening and the ATM continues to flow gregariously!! I prefer to make money daily than to wait for the big R12 day which for me now is a few years away!!! I love green beer!!!

And I love fanny in my face

[DayTraderDad]

 

 ...Might be part of the settlement with Seifert

======================================

 

Austrian furniture retailer XXXLutz takes over Lipo.

 

The Austrian XXXLutz Group is further expanding its foothold in Switzerland. Following the takeover of Möbel Pfister in autumn 2019, XXXLutz is now snapping up Lipo Einrichtungsmärkte AG. The seller is Steinhoff International Holdings, as Lipo, which is positioned in the discount segment, announced on Monday.

 

No layoffs and closures

XXXLutz will continue to employ all 635 Lipo staff and the Lipo brand name is also to be retained. Lipo, which ranks among the five largest furniture stores in Switzerland, will also continue to be run by the current management team.

 

In addition to the 23 branches, XXXLutz will also take over Lipo's online shop, the logistics team in Derendingen and the service centre in Pratteln. The transaction is expected to be completed by the end of June 2022. It is still subject to the approval of the cartel authorities. The parties have agreed not to disclose the purchase price.

 

Expansion in Switzerland

Lipo's new owner XXXLutz currently operates 370 furniture stores in 13 countries and employs around 26,000 people.

 

The group had only entered the Swiss market with its own furniture store in September 2018. The first location was a 15,000-square-metre shop in Rothrist, Aargau. After the takeover of Möbel Pfister, XXXLutz also bought six Interio shops from Migros in 2020 and converted them into Mömax shops.

 

https://www.srf.ch/n...uebernimmt-lipo

 

Translated with DeepL_com

 

Excellent now all we need is the final solution for Greenlit Brand!!!

[Squideye]

 ...Might be part of the settlement with Seifert

======================================

 

Austrian furniture retailer XXXLutz takes over Lipo.

 

The Austrian XXXLutz Group is further expanding its foothold in Switzerland. Following the takeover of Möbel Pfister in autumn 2019, XXXLutz is now snapping up Lipo Einrichtungsmärkte AG. The seller is Steinhoff International Holdings, as Lipo, which is positioned in the discount segment, announced on Monday.

 

No layoffs and closures

XXXLutz will continue to employ all 635 Lipo staff and the Lipo brand name is also to be retained. Lipo, which ranks among the five largest furniture stores in Switzerland, will also continue to be run by the current management team.

 

In addition to the 23 branches, XXXLutz will also take over Lipo's online shop, the logistics team in Derendingen and the service centre in Pratteln. The transaction is expected to be completed by the end of June 2022. It is still subject to the approval of the cartel authorities. The parties have agreed not to disclose the purchase price.

 

Expansion in Switzerland

Lipo's new owner XXXLutz currently operates 370 furniture stores in 13 countries and employs around 26,000 people.

 

The group had only entered the Swiss market with its own furniture store in September 2018. The first location was a 15,000-square-metre shop in Rothrist, Aargau. After the takeover of Möbel Pfister, XXXLutz also bought six Interio shops from Migros in 2020 and converted them into Mömax shops.

 

https://www.srf.ch/n...uebernimmt-lipo

 

Translated with DeepL_com

Edited by Squideye, 10 January 2022 - 01:11 PM.

[KP7]

 

A good article on MF:  https://www.pymnts.c...e-for-category/

 

Something I never thought which is becoming a reality in Europe:

 

 

"Reliance on Physical Spaces

 

With over 2,000 locations, Mattress Firm is also heavily invested in physical retail at a time when consumers are increasingly looking to shop digitally. The share of brick-and-mortar native shoppers has fallen by at least 10% since the pandemic began, while the share of online shoppers has grown by at least 17%, according to PYMNTS data."

 

 

I think buying a mattress or bed is extremely personal. For me, it’s an investment for my body, which is why I would always want to visit a store. Low, high, soft, firm, medium, extra length and so on…..its far more complex than placing an order online for bread and milk.

Then again, maybe I am different 

[DayTraderDad]

A good article on MF:  https://www.pymnts.c...e-for-category/

 

Something I never thought which is becoming a reality in Europe:

 

 

"Reliance on Physical Spaces

 

With over 2,000 locations, Mattress Firm is also heavily invested in physical retail at a time when consumers are increasingly looking to shop digitally. The share of brick-and-mortar native shoppers has fallen by at least 10% since the pandemic began, while the share of online shoppers has grown by at least 17%, according to PYMNTS data."

[DayTraderDad]

Debt is the greatest overhang and covenants signed with creditors...

This debt is going to make the Ascendis issue a sunday school picknick!! Hahaha 

[Investment novice]

Debt is the greatest overhang and covenants signed with creditors...

[DayTraderDad]

Things are happening fast and you are going to miss out on your R12 prediction.... Stop drinking the green beers

Haha Lionel for sure lots happening and the ATM continues to flow gregariously!! I prefer to make money daily than to wait for the big R12 day which for me now is a few years away!!! I love green beer!!!

[DayTraderDad]

The guy hates money haha. Does anything he can to find negatives on Steinhoff (there is still plenty to be fair) in order to then not short & watch the share price move out of sight in the other direction 

 

I have the feeling they'll float very little of Mattress Firm and it's mostly used to put a fair valuation on the books - maybe as a requirement for debt renegotiation? Just speculating.

Haha I don't hate money but not living in the clouds!!! If SNH was such a big bargain why did CW sell all his shares at a loss and no one of the claimants took a single share of SNH all hanging on to PPH!!

Edited by DayTraderDad, 10 January 2022 - 10:39 AM.

[DayTraderDad]

 

Hi Batra, indeed its great to exchange views!

 

I do recall the short squeeze created by retail investors and was well documented in the news. One of my investing rules is never invest in a business that I don't fully understand and gaming is one of them!!!

 

After getting my fingers burnt by going for all kinds of specials, listening to analyst/Summit TV etc I decided on my long term portfolio to invest based on valuations. I am also willing to wait a number years for a good return provided the company offer value relative to the share price.

 

As I said before I do believe SNH has valuable assets and a very good management and I believe the Pep business both in Europe and SA are winning models but the amount of debt is not sustainable unless the business grows fast.

 

We are now entering a inflation cycle that the Fed already talking of possible three rate increases and we all know the reason why rates are increased is to slowdown the economy or people spending!

 

My biggest concern is the ability of SNH to pay its debt. As we seen with Mattress Firm the only way they can get cash from the various business units is by receiving dividends ( and borrowing money at 5% interest for dividends is not a long term solution) from were will the money come from.

 

I know DeltaHedge says the debt will be paid by cash flow but its here that I get stuck (and would be regretful to hear other comments how will SNH generate cash) because going forward SNH can only get cash from either dividends or selling shares.  If we look at the dividends the most it will get at present is Eur 45 mil from Pepkor (at present will be 10% less after settlements) and nothing from MF going forward and not sure how much from PEPCO. 

 

So for exercise lets say PEPCO will give 1/3 of earning in dividends is about Eur 50 mil of which SNH 78,9% will be Eur 40 mil that means a total cash received of Eur 85 mil assuming Corporate costs of Eur 20 mil ( being very conservative) the free cash flow is Eur 65 mil. 

 

So the maximum debt it can sustain covering the 5% interest alone ( this is how much MF going to be paying)  is Eur 1,3 bil so how will they pay the Eur 2.1 interest per kind due and the Eur 9 bil ( deducted Eur 600 mil the dividend they getting from MF which I hope it will go to pay down debt)

 

Its here that I am having difficulty understanding the euphoria when SNH will have to find Eur 9,8 bil and for sure will have to sell lots of assess and then what will be left?

 

Its exactly here that is the difference between SNH and Gamestop its the amount of debt for the cash generated.

[Tentative]

The guy hates money haha. Does anything he can to find negatives on Steinhoff (there is still plenty to be fair) in order to then not short & watch the share price move out of sight in the other direction 

 

I have the feeling they'll float very little of Mattress Firm and it's mostly used to put a fair valuation on the books - maybe as a requirement for debt renegotiation? Just speculating.

 

Things are happening fast and you are going to miss out on your R12 prediction.... Stop drinking the green beers