Well an argument could be made for taking more than last years earnings into consideration. In which case the 'average' p/e of HLG is considerably higher.
In any case I hold more HLG than MHJ.
Printable View
Well an argument could be made for taking more than last years earnings into consideration. In which case the 'average' p/e of HLG is considerably higher.
In any case I hold more HLG than MHJ.
Well they certainly do not use charts to time their share purchases.
Business model looks broken to me.
The fizz is out of the bottle.
Their business model was based on discounting? Discounting bringing the price back to what I would call the normal retail price.
As is in the case of most failed retail models rebranding costs a great deal and more often than not fails.
Same store sales are flat or negative while overheads are increasing.
Finally waking up years too late to online sales ,means that they are behind the pack here too.
My own view is LOV have taken the low end of the market leaving either the middle or upper end to MHJ,and I doubt they will survive in either of those.
A lot of clever people have lost a great deal of capital in the changing retail market.
Different this time.?
Totally agree, my family (especially mom) is a jewellery person and have really moved away from MHJ stores which they did like initially (15 years or so ago) but their "normal" prices of jewellery is ridiculous, they priced themselves in the "unique" "one off" "custom made" market on their higher end products which was basically stuff off the catalogue (they would even open the suppliers catalogue and show you the options and then charge to MHJ pricing. Family have all moved to smaller retailers who have better 18ct and 22ct jewellery and manufacture very small number of items which is what you want when spending 5-10k on jewellery IMO.
The other part that really annoyed me with MHJ was their useless "life guarantee" on their pieces, yet whenever u have a problem there is ALWAYS a BS fine print about why they cant fix it without extra charges. There is ALWAYS an extra charge even though item is used less than 30 days.
I personally didnt like some of their sales reps, too pushy for my liking.
I just think they lost the plot along the way, products were just not in line with prices - our insurance company agreed on their valuations as well, hence they made use get external ones at our cost.
LAC said — I personally didnt like some of their sales reps, too pushy for my liking.
No pushy pushy no going to Vegas. Some even get into the Gold Club (not that Sir Michael looks too impressed in one photo)
Pages 16 and 17 Celebrating Success
http://nzx-prod-s7fsd7f98s.s3-websit...470/287529.pdf