As I has written before, CML are hell-bent on self destruction.
CML was a basket case 12 months ago, but now we have (a) the Board in chaos , (b) consumer's revolting at their CML discount's being reduced and (c) all management attention being directed to just bucketing out the water from the sinking ship, rather than planning for the future.
As much as I hate the covert influence institutional investors have over the behaviour of company boards', the lack of insto's on the CML register gives the board a free hand to pursue their current folly.
CML are at, or very close to a buy, merely because (a) the group may soon face the chopping block (odds-on) or (b) at the end of the day CML account for some 20c of every retail dollar spent.
In either event something must give - and the true value of CML will be realised.
Don't forget it was only two years ago WOW was facing the same issues, and trading at 1/2 their current price.
CML Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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