Please don't remind me about WHS as I sold out early after years holding at a loss...and then it recovered.
Still holding a few thousand shares of MHJ which I'm happy to keep holding them. Would be nice to have a bit of dividend increase.
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As expected ACC been doing selling. Now that they're under 5% threshold and don't need to report transactions any more. They still have about 18mln odd shares under their fold, expect price to be subdued until they sell out completely.
I agree W69. The retailers that will be successful in this day n age are those that shrink their store numbers but balance it with excellent click n collect systems, destination stores AND an awesome website!
Got to give MHJ management credit as they were ahead of the curve ball shrinking the store numbers before covid hit. Covid just sped up the process. Last qrt only 1 'non performing' store closed and prior to that none by memory. Looks like we are at the end of that road or very close to it. The one off write offs will be coming to an end. The sales from the closed stores have been transferring to the remaining stores or going through the website with same store sales constantly growing yoy and online sales growing 100% yoy for a number of reporting periods. And with less rents, store mangers, sales staff, inventory etc etc GP margins have gone from 60% to 63% and will get close to 65% imo.
The retailers that don't adjust will get eaten alive by Amazon, Alibaba etc.
ACC sell down - Do not worry about that as they purchased 4.1m shares last year for around 35 cents taking their stake at the time from 24.6m to 28.7m so are just selling their 100%+ gains and rebalancing their holding. Poor suckers are probably forced to sell the hottest stock in town (:p:t_up:) because of some internal limit guidelines/mandate
As per Forsythbarr as at 16.04.2021
Earnings: We make limited changes to our FY21 forecasts. Recent performance provides further confidence in management's ability to grow earnings, we lift FY22 and FY23 NPAT estimates +8.0% and +9.8% respectively.
Target price: Our target price increases +15cps to NZ$1.02 on the back of earnings changes and higher peer multiples.
Spheria betting the farm on MHJ - over 50 million shares now - I believe one of their biggest holdings
Wonder what happened to their foray into MHI at the turn of the century
Nice to see Rob Fyfe being given reign of Chair and CEO Daniel Bracken joining the Board.