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CORE BIZ ABYSS
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OXDEVIL
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03-Mar-2017 19:02
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As forecasted many months earlier, Sakae came in a whopping $13MM loss for 2016 - putting her combined loss since 2010 at $10MM averaging $1.4M loss average per year for past 7 years. Apparent that Sakae has no clue to turn around her core business while her chairman continues to diversify/divest in other non-food-related ventures ( finance, IT n beauty products n trading etc ). Sakae is closing down numbers of outlets in the coming months. FY2017 will see dramatic drops in sales revenue of core business + more writeoff/rationalization costs. All her non-core-ventures would not be able to save her from the red sea. The only savior would be a court-judgement awarding them the $MMs in her suit against Gryphon but even with that award, FY2017 would still be in the RED. Q12017 ( out in May 2017 ) would probably show $millions losses. FY2017 forecast $1MM to $8MM losses with a 30% drop in sales revenue. Compounding the problems, staffs' morales so low. Good staffs probably leaving to work at new expanding outlets at Sushi Express and Genki Sushi. |
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andrewcck
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13-Sep-2016 10:40
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With current ecomonic climate and its yet to be reported high legal and operating costs, I worry Sakae losses in 2016 will be in the tens of millions 
Looks like I' m gonna have to accept and write off my investment in Sakae.... |
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OXDEVIL
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12-Aug-2016 00:09
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Core Restaurant Biz ( excludes non-operational legal expenses ) continues to lose $400K per month for several consecutive quarters = indicative that the management had no clue to stop the bleeding. Yet to see any affirmative sign of an effective turn-around-plan for the coming months of economic-downturn. However her competition remains profitable though. Strange that the share price remains unchanged after the poor 1H result. At this trend, Sakae will likely to see $millions loss for 2016. |
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