Briscoes reports y-o-y growth for 2nd quarter ending July 31st, forecasts NPAT growth for full year.
https://www.nzx.com/announcements/396397
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Briscoes reports y-o-y growth for 2nd quarter ending July 31st, forecasts NPAT growth for full year.
https://www.nzx.com/announcements/396397
Yep, sales up 3.5% on pcp (probabaly selling less things) but margins down so NPAT down about $2m
I hate it when a company says they'll make up any first half shortfall in the second half ... generally doesn't happen so just as well Rod is a guru and in Briscoes case it will happen
A few insights in this article about Aussie retail
"Some people will be pulling back [on spending] while others are still spending like crazy, but on average people are spending like crazy," he says. ..... but 2023 might not be as good
https://www.morningstar.com.au/credi...ail%20Campaign
Weekly review:
Attachment 14041
Shipping rates continue to plummet:
Attachment 14042
NZ petrol prices also falling:
Attachment 14043Attachment 14043
Card Spend July
Retail card spending down 0.2 percent in July
https://www.stats.govt.nz/news/retai...rcent-in-july/
That's seasonally adjusted
v last year Total down 0.5% / Core Retail down 0.9% / Durables down 4.0%
Durables probably most relevant for listed retail - so down 4.0% not too good
Core Retail value down 0.9% but number of transactions down 8.8% gives some idea of volume and inflation impacts
fuel consumption is up year on year 6.4%, in actual dollars.
fuel consumption is down 6.1% on a SA basis relative to june. or down 2% in unadjusted raw dollar terms.
prices have fallen since june.
this page has slightly more detail. plus you can just click on the excel files to see everything for yourself. always a bit confusing what stats nz are refering to sometime (movement on prior year, movement on prior month on a SA basis, etc etc)
https://www.stats.govt.nz/informatio...ons-july-2022/
but on the traffic point - the latest anz traffic index was sluggish.
Cheers lads - had missed that chart title - the world makes sense again.
I do know a lot of people who took overseas holidays over the alst 6 weeks (Aussie, Fiji, Raro & Hawaii specifically), I wonder if all those delayed holiday trips are now biting into local retail spending in terms of discretionary spend. Hard to tell if that would be a long lasting effect or just a temporary blip if so.