Yeah nah no worries, did not doubt you either, just be wary about the NZX, they are pretty much useless for info I have found. Or at least you need to double check them. Understand your predicament, you would think you could at least trust the NZX.
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I know to check with the experts here on Sharetrader.
Thanks for your replies.
I hope the NZX are reading this. You'd think precision and accuracy would be their maxim 100%!! .Becoming a laughing stock. Resting on their laurels due to their 20 min delay advantage, turning into yet another fake news story provider?!!!
I see MHJ as undervalued at the moment and have been purchasing. Have also owned Briscoes and HLG for a few years now.
Exiting loss making divisions will improve bottom line in the short-medium term. Growth opportunities from Canada (bigger market than AUS) is proven. Less risk of disruption than Briscoes imo and more reliable growth than all other retailers in NZ (maybe excluding KMD? don't really follow that one). I am a bit curious why they need a Chief Person Officer as well as an HR senior exec. Chief person office sounds like a redundant position if HR is doing their job and probably on a fat wicket. Would be interested to see their responsibilities.
I have confirmed with Michael Hill that their dividends are fully imputed as per their reports (have yet to recieve one). He advised he would let NZX know that their dividends have been fully imputed since the IRD matter was resolved. Obviously has not happened yet. Also dividends are in AUD which is another little bonus.
A couple members of the NZX use to read ST, but unsure if they still do (not in their job description).
I've dug into the MHJ Dividend announcement and found all the info needed on the last page. What has happened (from how I understand it) is that the NZX has only inserted the foreign div amount and no franking credits (yellow highlighted) into their system and missed the note in 5.1 about the NZ imputation credits.
Looking at ANZ who is another ASX primary listed company (which pay their dividends in AUD and have imputation credits for NZ investors in NZD), the NZX has entered both the AUD dividend and the NZD imputation credits into their system.
Entering Dividends use to be a 3 check process (3 different people), but it seems that the NZX has dropped the ball on MHJ.
I sold all my MHJ shares about 2 years ago, and from recollection then, their divvies in the NZX have never been imputed. Just the ASX perhaps, which was one of my reasons for selling back then.
Same store sales + 0.4%.
Online sales 1.9% of total sales.
A lot of work to be done .
What do you think of the last result?
http://www.sharechat.co.nz/article/1...ure-costs.html
The fizz has gone out of the bottle.
Trying to get it back into the bottle may prove hard and costly.
Online sales will possibly work,but they are now years behind their competition,and starting from a very low base.
Maybe unfair, but they look to be a "turn around" business.
Turn arounds usually take longer and cost more than originally thought.Often they do not work.
We must remember management have made a few bad costly calls,so why should they get it right this time.?
So it could work,but their only real growth is coming from Canada.
Their success or failure will come from their largest make,Australia.At present time they are struggling there.
I hardly think they are a "turn around" case. Their continuing operations are very successful and they have proved up their growth in Canada, which is a larger market than Aus - although they do not seem to be targeting all of it at the moment. I see the shares as good value with one caveat below.
What concerns me is the unexplained $10m increase in corporate costs, I could understand this being temporary due to the relatively large change that has been undertaken this year - However if overheads have permanently increased by $10m it would be a bit concerning. Hopefully some 'colour' is provided around this in the conference call.
Possibly large amounts spent on that strategy to reposition themselves from a traditional retailer to a differentiated omnichannel brand
Strategic initiatives mirror The Warehouse .....MHJ and Warehouse execs and advisors must have gone to sale management school
Pretty week plan on paper .....all depends on execution eh ...but putting on a few more expensive managers to help them do this
Does Rob Fyfe still ‘mentor’ the newish CEO?
Will be leaving NHJ on the watch list ...but my love of retail will see me watching developments closely
Share price below a buck and sinking to multi year lows
Punters not like the story or something
The story must have pretty good when punters drove the share price up to 170 plus - might be half price soon
We failed our investors in getting into the USA and are pulling out, so your investment is fecked and we'll get back to you on what's next on the growth agenda, meantime suck it up.
Half price would be a good outcome. It'll probably be much worse than that when investors come to terms with the enormity of throwing in the towel on the US market.
Really? I invested only after they announced they were pulling out of US and closing Emma and Roe. They can't hemorrhage money forever trying to get into US.
I think investors are unhappy about the large increase in corporate costs despite the decrease scope of the business. If I was aware that would be occurring I wouldn't have invested until SP was closer to current levels.
However, they have a solid core business which seems to be trading at good value currently, I hope price drops a bit further.