Brave buyers at 54 cents.!
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Brave buyers at 54 cents.!
The pain continues.
I remember rob fyfe bought huge lots of MHJ after getting into this trainwreck for 70 cents...
This goes to show that not all director purchases should be viewed as positive...(at least momentarily)
They have stated margin contraction.
That means margin contraction.
That means to get the same profit, you need to "greatly" improve sales.That is not happening.
11 store closures come at a cost.
10 new stores will take years to recover their fit out costs.
In plain language it is a disaster.
Only positive is increase in online sales.But comes off an extremely low base and now only accounts for approx 3% of sales.
Half year operating profit margin down to 9%. Market has been fully aware the margin contraction, and has act accordingly. I don't think there will be further margin contraction. SP has down from 80C to 55C. I estimate EPS at around 8C. MHJ both PE and PB have be down to historical low.
Yes percy they did mention margins - a full year gross margin of 61.1%, compared against 62.8% for the prior year.
That’s 1.7% points gross margin drop
On $560m that’s nearly a $10m margin hit ...aussie dollars ...straight through to bottom line.
Once a trend starts (during transformations) it usually continues or at best it’s hard to arrest a down trend