Expect massive churn at #MCLS given size of raise but board bought, market looks backwards & I think it’s a buy. Now got capital to accelerate facia rollout - IF next 100 stores show same lfl uplift as first 65 (3 year payback) then mkt will rerate in anticipation of same
cash per store uplift from targeted 800 off 1150 in estate. @research_tree carries good notes. My maths (dyor) is eps 11p to give pe 1.7 - lots like #GMS (I am long too) but on execution of day rates it’s still levered (very) has refinancing risk & is
Middle East ! This is U.K., would be modestly levered by that stage - 800 stores revamped. Should it be cheap - for sure but Tesco trades 12* leases / debt but leader so why not 4 * pe here. Worth doing the home work here. At some stage the low pe rocket brigade will arrive 😂
#MCLS RNS just released. Would seem to be most encouraging - ahead re rollout & presumably therefore ebit as more stores converted quicker 6 stores a week. Upto 100 now. Payback 2 - 3 years. MRW CEO endorses. Would seem transformational to me……join the dots….Cheap
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