quote:
Originally posted by Halebop
Quote:
quote:Originally posted by BRICKS
RBD is not the only retailer of food in NZ its very competitive it could be worse like Cob & Co next door it had NO customers today how do you think they feel, just like the car salesmen we meet this week when buying a new car they fall over getting to you so for RBD to t/o $185m it is GREAT.. [8D]
The thing with benchmarking is that it is only useful to benchmark against average and good performances. Benchmarking against bad performance makes anyone look like a genius. There are two things that are no good to me as a long term investor: Performance below average and negative growth.
Total reported takeaway sales for the last 10 quarters in New Zealand (Source: Retail Trade Survey Statistics New Zealand) have averaged roughly 11.1% growth on the same quarter in the prior year. In comparison, RBD has averaged -0.1% (that's minus) "Growth".
Here's a couple of charts you won't see in an RBD annual report...
http://img211.imageshack.us/img211/8...lysalesfx4.jpg
http://img68.imageshack.us/img68/5763/rbdgrowthbq1.jpg