Reitmans Ord Shs V.RET

L2

[Zemoy190]

Some troll is selling 100K shares of the RET class at 2.25,,, holding stock price hostage

[Tommy123]

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[savyinvestor333]

 Probably someone here that read there is no point of holding voting shares over the non voting when they are more expensive.. Maybe a arb play or switching to the non voting

[nedstar71]

But all the same, willing to take that price for those shares.  Until management signals they're willing to play ball the share price won't gain much traction.  They missed a golden opportunity to announce an uplisting with these earnings or even a small dividend, which would have driven the share price substantially higher.  The market yawned due to management's clear

[tomperns]

It better not be an insider that's selling his 1.50 free shares!

[nedstar71]

If you're meaning the options from earlier this year those were non voting A shares

[nedstar71]

2.25 order chewed through

[TheCount11]

Could see a small fund build up a position to push the board (elliot management style) for a buyback, uplisting then small dividend

[Zemoy190]

Kind of sus lol 10K daily average and 100K order gone is 10 mins ,,, seller,,, CIBC ,,, buyer ,,, mostly CIBC lol

[tomperns]

Looks like the buyer and seller of the 100,000 shares were CIBC. Same buyer/seller swapping shares from one account to another, coincidence, or other

[nedstar71]

Share swaps don't hang on the open market for 15 minutes for anyone else to swing in and take the order though.

[Zemoy190]

Ok am gonna call steven reitmen,,, leave 1 question you want me to ask,,, no dumb questions I will call the number on the website 

[babedinkleman]

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[savyinvestor333]

  you have to ask yourself then why did they not do this 2 years ago when in protection? Privatization would have been easily done for $.50 at that time. Also what does he do with it if it is taken Private. He is getting old and I don't think that is a great strategy. I still think Canadian Tire would love to have this accretive division on there books. They could pay $5.00 tomorrow and

[babedinkleman]

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[Northforce13]

"I still think Canadian Tire would love to have this accretive division on there books." For sure.  It's a clear and obvious fit.  When the men go out to buy some tires or parts for their car they could pick up a dress or two for the housewife.  

[babedinkleman]

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[RedeyeGarf2]

I have to agree with babedlinkleman. Mark's workwear and Sportscheck fits within Canandian Tire customers as they were already selling outdoors/and athletic equipment. Reitmans does not fit with their customers.  Reitmans has a book value of $5.00 right now. If they continue to produce retained earnigns of $1.00 per year, in FYE 2020, the book value will be $6.00 and $7.00 and so on. I

[savyinvestor333]

And  if we use that train of thought,  what does Party City have to do with Auto parts? I would think there are more synergies with Reitman's than Party City. They could leaverage each others overseas shipping, purchasing and supply channels for a start.

[Northforce13]

Hell yeah! Or maybe apple could buy Reitmans. They both import containers from the orient... they could share container space on shipments for some shipments, creating fantastic synergies.  Or like, buy an iphone, get a free bra or panties at your local reitman's store. I guess the CEOs of these companies don't have the depth of thought and wisdom the posters on these forums do.

[savyinvestor333]

Hopefully the CEO's and board of Directors don't have closed minds like "some of the posters on these forums do"    Canadian Tire Corporation, Limited (TSX:CTC, TSX:CTC.A) today announced that it has successfully closed the previously announced acquisition of Party City's Canadian business. Party City is a leading, one-stop shopping destination for party

[RedeyeGarf2]

It's not that we are closed mind, it is that we are looking synergy ...Reitmans and Canadian Tire ..for some us some doesn't mesh. Party City - at Canadian Tire is only an aile ...I remember shopping at Party City when it had its own independent stores....its was a big retail space for all kind of party supplies ..mostly for kids birthdays. It is more convenient to shop at your local

[savyinvestor333]

  Party City is a leading, one-stop shopping destination for party supplies and an expert in seasonal and micro-seasonal celebrations, with 65 Canadian retail stores in seven provinces.    Nobody said put the clothes in the Can Tire store. Mark's Work Wear, Sport Check. Hockey Life, Party City, Parts Source and Atomspere are all seperate divisions of the Corp. Does the

[babedinkleman]

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[Northforce13]

Guess you guys are right and the idea of it happening is not so far fetched I just think it would be a bad idea for an acquirer, based on my belief of jack of all trades master of none. Conglomerates have existed in the past, generally do poorly b/c of that

[RedeyeGarf2]

Not far fetched. For example, Fairfax Financial who are known as a value investors bought Reitman but it did not work out for them. They sold out in 2019, lost a bundle. https://financialpost.com/news/retail-marketing/reitmans-shares-surge-after-fairfax-buys-stake https://www.thestar.com/business/2019/08/07/fairfax-financial-sells-large-stake-in-reitmans-for-about-22-million.html

[nedstar71]

Interesting.  Their shares were bought through an SIB that was initiated when RET.A shares were trading right about where they are now.  SIB was at $3 and they took back almost 15 million shares or 1/3 of the total outstanding.  Don't think they'd get that many tendered today at $3.  Even back then over 7 million were from Fairfax.

[nedstar71]

RET going up and RET.A down?  Back to a large discepancy between the two.  Reading past financials last night I noticed the discrepancy historically hasn't been that high and there have been times when the A shares price exceeded the voting.shares.

[nedstar71]

RET currently priced 18% higher.  I didn't see a gap even close to that wide in previous years.  Traders are playing with the A side trying to shake some loose.

[tomperns]

Thank the geniouses selling at $2.10. RET was trading higher right out of banruptcy protection and before a bunch of consecutive profitable Qs. And to answer why RET is currently 20 percent higher than RET.A very simple. We know what we have and we ain't selling. If RET was $3 right out of CCAA, this is worth $4-$5 today, so you RET.A shareholders can go right ahead and sell at 2.10 all you

[nedstar71]

Don't disagree but keep in mind it was a RET genius that put an open order to sell 100,000 shares at.$2.25 on Friday in an inexplicable attempt to kill momentum.  Apparently it's going to take the company stepping up and returning some value to shareholders either by uplisting, dividend, NCIB or SIB for this manipulation to stop.

[tomperns]

I would love to know who was behind that trade. Way too big a trade for it to be 2 independent retailers. 100 percent agree with your point that management needs to understand that the shareholders are their bosses and that they need to do some of the things you mention. They run this company as if it's privately held. In a way it is because the reitman family has morw than 50 percent of the

[babedinkleman]

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[nedstar71]

At 1536hrs anonymous bought 45200 shares cleaning up everything at $2.35 and below as if there was some sense of urgency.  Maybe the manipulation this morning didn't trigger enough sheep into selling? Nice close @$2.36

[Lllennn]

End of year report Dec 30 so available trading days are tight imo

[tomperns]

Fiscal year end for RET is Jan 31st and numbers are usually out mid April

[Lllennn]

Interim report, check website under reporting calendar imo

[Lllennn]

What is an interim report? An interim report, sometimes referred to as an interim statement, is a financial statement for a period shorter than one financial year. It can be prepared monthly, quarterly, semi-annually, or on an ad hoc basis imo

[tomperns]

Not sure what you are talking about but Q3 (interim report) just came out last week. Next report is Q4 which is their year-end statement

[Lllennn]

Find dates on all reports on corporate website imo

[savyinvestor333]

 I never said it would be a good idea for the acquirer but it would great for the seller and that would be us.  CTC trades at 1.55 price to book and 8.6 times earnings. Just imagine how much then could pay and still call it accretive. $7.50 is still below those metrics

[savyinvestor333]

Remember "volume before price" Volume bars visualise the amount of shares that have traded per time period and show trends in the same manner that prices do and can be usually found at the bottom of any chart. The most significant rule is this: volume precedes price. Generally, before a stock price moves, the volume comes into play.