Still grinding it out at that resistance zone. Depth looks like the bulls are making headway, but lets see if we can get that solid break to push to $1.00.
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Another hold up / burglary
Seems a common occurrence
Probably reflects Michael Hills huge market presence
https://www.stuff.co.nz/national/cri...ry-and-watches
https://www.nzherald.co.nz/nz/michae...W56XGWKDWOXRQ/
Looks like they got very clear images of the robbers.
92c proving to be big resistance currently. Hopefully upcoming trading update should break that through.
Q4 update should be out in the next day or two. Given spending figures over previous months I am expecting a strong result. Covid situation in Australia may start slowing things down though, but probably offset by Canada opening back up. Tightening on the chart continues so is well positioned for a move once the announcement is released (I can't tell you whether that'll be up or down though).
I'm Quietly confident JTH, fingers crossed
At first glance a really solid result given the number of store closures. Net cash position of ~$70m so should enable healthy ongoing dividends. Spheria will be quite happy I'm picking. Let's see if this breaks the consolidation for a push to the $1 psychological level.
http://nzx-prod-s7fsd7f98s.s3-websit...746/350440.pdfQuote:
“I’m very pleased with our Q4 results – sales growth in all markets, increased margins, and an outstanding performancefrom our bricks and mortar stores delivering almost 20% same store sales growth for the quarter. Setting aside the globalstore network closure in 2020, Michael Hill has now delivered eight consecutive quarters of positive comp sales growth,together with sustained margin expansion.
This performance provides further evidence that our strategic transformation agenda is on track and delivering. We’veseen record digital sales, our loyalty program going from strength to strength, further deployment of omni-channelinitiatives, and continued evolution of our product offering, go-to-market campaigns and retail fundamentals."
Market liking the result so far, up 4.6% (albeit on low volume, however sell depth is very very thin). Testing the 91/92c resistance area. A break should see the quick run to 100.
Solid indeed
Sometimes I think such announcements are met with relief rather than what the metrics say ....like good that things haven't turned to custard
Fantastic result some solid growth and mazing with the amount of store closed days. very happy :t_up:
Margins holding which is nice to see. Still closing stores which I was hoping they were done with. Opened a new one. Management seem to be dialed into the optimal metrics a store should be performing at and if not performing it is cut. Laser focus on costs and margins. Good stuff.
Is it just me or do you kinda need to read their announcements multiple times to get a true picture of how they are going? They like to use same store which is good and then 'All stores' as a measurement, changing/adjusting pcp numbers. Looking forward to seeing the annual report.
Overall things are tracking in the right direction. Management performing exceptionally well. The business is selling as much as 2016 but making twice the profit! How good. $70m in the bank, they could ramp up dividends to 8 cents per share p.a.