Lost faith in what? Like the business model or the acquisition and store rollout of Bevilles?
Or you mean this is a cyclical and dont want to know it at this stage in the cycle? But faith returns once its bottomed
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Getting some love from market in the last week or so.
The recent chart of MHJ is whack.
Why the SP went to $1 i dont know,,
Will be interesting to see what it does in the coming months. I assume drift back lower
Suppose they don’t have much cash left to do another share buyback ….last one helped the share price lol
MHJ did very well out of the revenge spend mania post covid lockdowns. At one point had over $100m cash on the balance sheet- not bad for a $365m market cap company. They used the cash to buy another business with great future growth, buy back a bunch of shares and pay out larger dividends.
Compare to other retailers like WHS who also did very well coming out of covid and all they have done is squandered money on the market and miss manage T7.
MHJ may not have got the share buy back price completely right but overall they spent their winnings far better than most. I don’t hold but will again another day, when the time is right
DMX Asset Management not that excited about MHJ but still holding
I think Rawz works for them lol
Big fan of DMX! They were late to the party on MHJ and now have to hold through the bottom of the cycle. whoops
DMX were right.Tough trading.
http://nzx-prod-s7fsd7f98s.s3-websit...993/411178.pdf
worth recalling this half will include contribution from their brevilles (australian) acquisition, relative to the same period last year which did not. although to be fair, I never fully understand the basis of their 'update' earnings - they are normalised to infinity a bit of effort to recy back to stat figures.
Not an unexpected position. NZ are being squeezed by the RBNZ to reduce spending, jewellery has to be right up there in the non-essentials list. Aussie well ahead but their country not in recession or struggling to tame inflation. This could bode well for the likes of HLG and their Aussie business
Comparable EBIT likely to be 30m to 33m
Last year was 54m ….that’s a huge hit …assuming comparable this year iis defined same was as last year.
Good to see getting rid of some expensive HQ people
Gross Margin 61% v 65% last year ….wonder how much was promo pricing?