Deleted ..waste of time
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Deleted ..waste of time
Lambton Quay shopping district have suffered immensely from the work from home boom - tens of thousands of government and corporate workers in wellington CBD are no longer going into the office 5 days a week (the new normal is somewhere around 1-3 days a week in the office for many) - so shops & cafes/bars in the Lambton Quay area are suffering from the big drop in foot traffic. The area has the highest average salary workers in New Zealand, but they only shop here when they are in the office - they go to the suburban malls etc generally when working from home & weekends (as there is bugger all parking in that area of CBD, and its really expensive). David Jones was targeting the high end customer so not surprised it is closing (good strategy for Lambton Quay pre-pandemic, not so much now). Notably the other side of the central city, Courtney place/manners street/cuba street retail area is still doing very well as that was not reliant on the Lambton Quay market (HLG has both a new Glassons store and a Hallensteins on Cuba Mall.)
Idle thought: they should turn the David Jones location into an entertainment complex (cinemas etc), would bring more people into the area on weekends (which have always been particularly quiet shopping wise down that end of town)
As I’ve said before I think Hallensteins Board don’t even think about the share price and furthermore they give the impression retail share holders are a pain in the butt but a necessary evil that’s part of being a listed company.
Patently clear from the brevity of their updates and the lack of enthusiasm shown at AGMs
But you never know they might listen to you if many of you clamour for a share split.
Have to agree they're a pretty conservative lot...kind of old fashioned...but I like that. Listed in 1947, N.Z.'s oldest listed company.
I like companies that have been around longer than I have.
Agree its unlikely they will split but you never know...if enough people ask for it they might listen.
Thanks for your support LaserEyeKiwi.
For what its worth I suggested a 5:1 stock split.
As the E in P/E represents "earnings", shouldn't we adjust by the amount of interest (earnings) from the $50m cash mountain, not the $50m itself?Quote:
Got thinking overnight about what the real PE is adjusted for the ~ $50m cash mountain they have (which is 83 cps). $7.33 - 0.83 = $6.50 one is paying for future earnings and if they make 74 cps this year that's an adjusted FY21 PE of just 8.8 which is absolutely nuts for a company with a multi year track record of strong growth in Australia.
:cool:
Way to go is to bring it up with long time major shareholders while sipping wine on his yacht while cruising Marlborough Sounds
ST once had such an influencer
HLG will have some marginal stores in 2nd tier cities perhaps.
DISC: we have some soft ware in europe but that toy is for developers.