Any further comments on the meeting See Weed?
There's no online or even phone in for the AGM - absolutely incredible!
After all they managed to do Online Sales...
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What's your full year profit forecast now Beagle
With last 18 weeks sales up 14.5% it implies that the last 10 weeks sales are up ¬18% (first 8 weeks 10.7%)
I reckon sales are up $14m/$15m so far this year - maybe some catch up from covid times but a good sign
That's real positive momentum eh
You still reckon share price will get to $8 some time early last year?
Thoughts. I am very happy indeed with the sales update which is very impressive in the context of months of store closures in Melbourne and the August shutdown in Auckland.
I'm also pleased they appear to be taking a cautious approach with new Australian store site's in circumstances which i think is very prudent.
There appears to be ongoing very strong online sales growth which is awesome.
Talk of some airfreight costs don't frighten me as I hear $6 a kilo is something like the going rate and summer clothes are not very heavy.
Briscoes currently trading on 16 times last years covid affected earnings and HLG on 14.3 times.
HLG directors appear very enthusiastic about the scope for growth in Australia with the size of the "dressable" market there and previous strong growth and BGR has no such growth opportunity.
If the current growth continues they could sell ~ $330m this year and eps could be circa 60 cents per share and they have barely scratched the surface of the huge potential in Australia with Glassons sales there last year still lower than N.Z. !
Gross yield at 50 cents fully imputed gives a forecast of 10.4% Gross yield and on a forward PE of just on 11. Shareholders are being paid very handsomely indeed to wait for more growth. This is a classic value and GARP stock (Growth at a very reasonable price).
Very happy holder. 14% portfolio position as this is a classic dividend hounds stock and I am really looking forward to next weeks massive dividend and another similar sized one next April !
EPS for F21 of 60 cents is possible - after all they lost about $15m of sales due to lockdowns in last few months of F19 and a 'catch up' of that alone is worth a bit
So if valued in line with Briscoes share price would be $8.40
Maybe not would be - probably will be
Yes it was good to read words to the effect that sales at Hallensteins are also looking up, (more heavily affected by Covid last year).
Currency will give a decent strength tailwind in the second half, (and possibly beyond), especially compared to the previous corresponding period !
An overused cliché but I do feel very well positioned. :)
Maybe but can I suggest let's not get ahead of ourselves. The real beauty of this one is the tremendous long term growth potential of Glasson's in Australia and the fact we're being paid so handsomely with dividends to enjoy the years of growth that lie ahead. Complete lack of analyst coverage at present is a little hard to comprehend especially considering its such an easy company to understand and is potentially knocking on the door of NZX50 inclusion :confused:
What would happen to the share price if say Jarden commenced coverage with a $9 price target and then later in 2021 it got included in the NZX50 :t_up: