https://www.nutraingredients-asia.co..._medium=email#
Quoting Comvita China online sales for early March being up 70%.
Printable View
https://www.nutraingredients-asia.co..._medium=email#
Quoting Comvita China online sales for early March being up 70%.
With the virtual shut down of airline flights I am surprised not to hear much dialogue around how the daigou channel has been affected....
Not sure - private people sending stuff to China (or anywhere else) is not considered "essential" in New Zealand:
https://www.nzpost.co.nz/business/co...orary-closures
NZ Post accepts at the moment only parcels from companies doing essential business, not from private people trying to make a buck by circumventing the official sales channels.
One of the stellar performers in the last 2 weeks but CVT has claimed the wage subsidy so revenues are down 30%?
http://nzx-prod-s7fsd7f98s.s3-websit...783/318581.pdf
https://www.nzx.com/announcements/350435
"23/3/2020, 9:26 am MKTUPDTE
Comvita Limited (“CVT”) is continuing to experience strong demand for its complete range of products (in particular Mānuka honey."
Something smells - and it's not the smell of rancid honey!
Comvita's NZ based retail and tourism arm will be hard hit. Online sales out of their Chinese warehouse will not offset NZ employment at retail.
CVT stock was behaving extremely strange and speculative even before COVID, with random rallies out of nowhere. Now it's uptrending on the general exaggeration of honey being sold out of proportion to previous years. But how much of that is directly comvita sales, they aren't exactly the only sellers of honey.
Question is have they benefited enough to fix their horrendous balance sheet?