No surprises there.!!!..lol.
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This has to be very good news for MHJ. Same store sales up 11.9% per previous quarter. and positive sales across the board with Canada up 16%.
http://nzx-prod-s7fsd7f98s.s3-websit...456/309533.pdf
Canada is proving the be very successful.
The 40 year promotion has been very successful too.
However,margin compression continues,as does competition.
Also I take it as a warning,[sensible] .;"Negotiations of existing leases,renewals and refurbishments remain a key priority for the business."
I feel this year's Christmas trading will be the test of whether MHI will survive, or manage to put the fizz back into the bottle.
Well, there are always challenges(for any business and any companies). I put my faith on MHJ as it is one of very few of NZ retail companies profitably expand to overseas.
https://www.nzherald.co.nz/business/...ectid=12169959
"Before Michael Hill, Bracken was chief executive of ASX-listed retail company Specialty Fashion Group, which operates retailers City Chic and Millers, among others.
When he joined Specialty Fashion Group, its market capitalisation was A$20m, and when he left the business in October it was over A$250m."
MHJ current CEO is a genius. He made SFG share price up twelvefold within less a year!
Well, I just give some more background information in regards to this CEO, which MHJ announcement didn't give more details.
Since the CEO was on board, MHJ branded collection sales have been up from 20% of total sales to 38% of total sales. E-commerce sales are up nearly 40% compared to same quarter last year. I'm very impressed the new CEO's ability of execution. Now I have known more about him and am confident MHJ SP will be over $1 in near future.