With huge ongoing lease liabilities [debt] retailers must be careful not to carry additional debt.
What is encouraging is noting HLG strong online sale channel.
Printable View
All fine on the HLG front ...no worries
Although the trading environment in both New Zealand and Australia is still challenging, it has been encouraging that Group sales for the first seven weeks on the 2019 Winter season are +1.5% ahead of the same period last year. Following the appointment of Mary Devine from 1 April 2019 as the new Group Managing Director, the business will continue to focus on building digital engagement with our customers, cost control and improving our market share in the New Zealand and Australian fashion apparel sector in which we operate.
http://nzx-prod-s7fsd7f98s.s3-websit...667/297605.pdf
Very solid result with great divvy and I note that digital has grown nicely to 14% of sales and that they are investigating several additional retail opportunities for Glassons in Australia. Fair to say Glassons Australia has been a star performer and now has critical mass along with huge future potential.
N.Z. best dividend hound's stock ? 44 cents of fully imputed dividends this year = 44/ 0.72 = 61.11 cps gross and on $4.60 this gives a gross yield of 13.3%.
Recently added more and I think ~ $4 was the low as this is a much improved company with substantially higher sales than it was 3 years ago.
Very impressive cuts to back office costs...they're running this thing like a well oiled Swiss watch. http://www.sharechat.co.nz/article/1...er-marginshtml
Glassons Australia a bit of drag on profits - NPAT down $0.7m on last year
Glassons NZ up $171k and Hallensteins about the same as pcp
Overall without Storm NPAT down $0.5m
in 'challenging' markets probsbly not too bad but lets hope H2 is pretty good. (winter sales up 1.7% so far won't cover the lost margin though)
Hundreds of thousands of ordinary New Zealanders get a 7% or more pay rise next week .....should help
Yeap, heaps more people will be able to afford mid priced clothing rather than the absolute cheapest rubbish from some other retailers.
One should remember almost ALL clothing made in China at very similar costings but its up to retail to add margins of 100% 200% 300% take your pick ?
Shareclarity unimpressed highlighting the 180bp contraction in GP margin
It was noticeable but didnt seem that bad to me when I read the announcement
It seemed within coo-eee as you might say , of normal variation, especially in this sector.
They also say
NPBT excl Storm declined 2.7%.
The only stock I haven't sold any shares in for near two years now and very happy to keep it that way.