Avg cost to build a deck in NZ between 10-20k so for 38k he'll get a pretty big deck.
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Good news Beagle
In AU Clothing/Footwear sector sales for July month were +4.5% up on pcp. That's pretty good eh mate
The good news is that for August the sector was up 5.8% - wow
Market going gangbusters in AU and NZ pretty good as well.
No wonder HLG sales are going gangbusters
Hope earnings grow on this sales growth ….didn't in F19
Consumer confidence turning upward ?
Noticed on Friday that our 10 year Govt stock rate is now 1.02%.
9% on top of that given HLG's superb track record seems like a good deal to me !
Honestly, if they can continue the growth in Australia they've enjoyed in the last 3 years, (the bigger they grow the greater the economies of scale kick in), then this is going to be a very rewarding stock to own going forward in more ways than just the 10.4% gross dividend yield.
Thanks Winner. Glassons Australia growth in the last 3 years has vastly outstripped the general growth in the apparel sector.
That's good. 5 times was a guess, suspected the opportunity was a bit more. Glassons Australia Sales
2016 $41.2m No new stores opened during the year
2017 $50.1m Net, no new stores opened during the year, (3 loss making stores closed, 3 new stores opened)
2018 $78.4m Added 2 new stores that year
2019 $89.5m Added 2 new stores during the year
Only added a net 4 new stores since 2016 yet sales have more than doubled (up 117%) in the last 3 years.
With the size of the Australian market and the way they have been growing the brand... I think the opportunity is very clear and they have clearly demonstrated the Glassons brand identity has rapidly growing awareness amongst Australian women.
They have really modernised many of their stores to the new format. I mentioned way back in 2016 this was something I was very impressed with after a couple of site visits. I think its clear I'm not the only one impressed with their new European style store formats.
Onward and upward and 6.5 times the opportunity in Australia as N.Z, that's pretty cool isn't it !.... and lets not forget we're being paid extremely handsomely (10.4% gross yield at $5.85) to enjoy waiting for more growth :)