Hallensteins didn’t feature in this bit on men’s summer fashions …their gear can’t be ‘cool and crisp’ enough
https://businessdesk.co.nz/article/t...nod-to-the-70s
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Hallensteins didn’t feature in this bit on men’s summer fashions …their gear can’t be ‘cool and crisp’ enough
https://businessdesk.co.nz/article/t...nod-to-the-70s
Lady from Glassons yesterday “Pretty gutted nobody queued up overnight outside our Auckland stores, just saying”
http://nzx-prod-s7fsd7f98s.s3-websit...792/357975.pdf
Yesterday I finally got around to reading our new CEO Stuart Duncan's report, (pages 6-9). Its a good read.
I can't help thinking the result they achieved is superb in the exceptionally challenging circumstances that prevailed in FY21 and they are getting set for a really bright future in FY23 and beyond. The well establish very strong growth of Glassons is the secret sauce here that the market is not pricing this correctly in my view.
Very good buying for the long term in my opinion. Can't help wondering if we'll get a dividend announcement soon ? (Was postponed pending reopening of Auckland, NSW and Victoria). Not too worried either way as cash retained in the business will drive growth in the years ahead.
SP has been very sluggish this year but to be honest I am not concerned.
Aussi job numbers out and it has taken a hit. Retail over the next 8 weeks in AUS will be a nail biter to see if it holds up.
From page 7 of the report
This must impact at some stage on the share price ?Quote:
"The first eight weeks of the new financial year have seen Group sales decline -18.90% on the prior year, this has been driven predominantly by multiple store closures across both New Zealand and Australia in response to the recent COVID-19 outbreaks in both countries."
Love companies that hold their ASM a day or so nefore Christmas ....obviously don't want many to turn up
And at a Rydges --- hope not an old MIQ place
Yeah I was a bit surprised with the date of the ASM too. I think its the latest in the year its ever been.
A dividend before Christmas would be nice but I'm not over fussed either way. This is a very well run company with a laser focus on doing well over the medium to long run. Tim Glassons 20% stake can be relied upon to mean he has serious skin in the game and the company will be run with shareholders best long term interests at heart. He has massive experience / company stake means he is best placed to know whether its prudent to pay a dividend at this time or not.