THE RETAIL BULLETIN - The home of retail news
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
The Papers
Retail Solutions
Food & Drink
Interviews
Property
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Brokers note: Blacks Leisure

Seymour Pierce has downgraded its recommendation on Blacks Leisure to ‘Sell’ following its recent full year results.

CITY & CORPORATE

Brokers note: Blacks Leisure

Seymour Pierce has downgraded its recommendation on Blacks Leisure to ‘Sell’ following its recent full year results.

The broker says the business continues to suffer from the poor perfo
rmance at its boardwear division and it does not expect a full exit from this operation until 2011. In the meantime Seymour Pierce expects losses from the boardwear stores to persist. It has therefore moved its recommendation from 'Hold' to 'Sell'.

Based on 2012 forecasts the broker suggests the stock is highly rated at 18.6x earnings and on its sum of the parts valuation it says it is fairly valued. The underlying share price is unchanged today (July 9) at 51p.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Conference
The HR Summit 2019
The HR Summit 2019
8 October 2019
Hallam Conference Centre, London W1W 6JJ
The 11th HR Summit 2019, Hallam Conference Centre, 44 Hallam St, Marylebone, London W1W 6JJ
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, London W1G 9DT
Digitally native competitors and demanding customers are forcing a new perspective in retail. AI and machine learning can help you step up to the challenges; and some ‘small and beautiful’ solutions can increase your conversion rates within just a few weeks.
Omnichannel Futures Conference 2020
Omnichannel Futures Conference 2020
5 February 2020
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy