Market must have taken Rod's remarks about challenging times ahead on board
Share price been heading down since --- from 560 t 530
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Market must have taken Rod's remarks about challenging times ahead on board
Share price been heading down since --- from 560 t 530
hope tpw in aus isnt a indication of whats to come
record profits but they say sales are 21% down to begin the new financial yr :scared:
• Online sales as mix of total Group sales, 19.36%
• Online sales growth +22.93%
well Winner Grinner wasnt that bad after all... think about how good its going to be in 2024 after all those Agri exports roll in and government is cut by 25 percent and country really becomes a rock star economy...:t_up:
rod warning of headwinds ahead .... people should take note duke knows his business
good result though
NZ Retail companies are in somewhat of a sweet spot in regards to the current headwinds (inflation, softening demand, lower NZ dollar) being more than compensated in year on year compares in the 2nd half of 2022 by the level 4 lockdowns in hte eyar ago period.
From Briscoes today:
Quote:
“Whilst the Omicron outbreak appears to be stabilising within the community, the economic outlook for the remainder of the year remains very uncertain. However, we believe there is significant opportunity throughout the second half of the year for the Group, especially in the third quarter which last year was heavily impacted by enforced shutdowns from mid-August to early November.
“The August 2021 period was significantly impacted with all Group stores shut from 18 August to 7 September 2021 due to the declaration of National Alert levels 4 and 3. As a result, August sales this year have closed more than 60% up on the same month last year but as a more relevant comparison we also note that it represents an increase of 27.24% on the August 2019 period, that is, before any impact of Covid.
Given the solid first half performance together with the promising start we have made to the second half of this financial year, we remain optimistic of being able to finish the year ahead of the $87.91 million NPAT delivered last year“
Since January 2019 annual online sales have grown from $63m to $173m as at July this year - up $110m or 175%
In same 3 1/2 years in store sales have grown by $13m (2%) to $581m and are still about the same as they were at January 2020
Just highights how the online channel has been the saviour of Briscoes over the last couple of years
I'd hazard a guess that shopping habits have changed and online activity is here to stay .... but physical stores still an important part of the overall mix .... both for the shopping experience and 'click and collect'