Quote:
"Future Outlook
While the trading environment in both New Zealand and Australia remains challenging, the sales for first 18 weeks of the new financial year (from 2 August 2018 to 9 December 2018) are 4% ahead of the same period last year. However, because the December and January key trading months, which contribute such a large proportion of sales and profit for the season, are largely still ahead of us, it is not possible to reliably forecast our results.
The outlook for the second half of the year remains uncertain as increasing costs (such as fuel, freight, electricity etc) and the lower New Zealand and Australian dollar puts pressure our trading margins. We will however remain focused on improving our market share and customer experience in the New Zealand and Australia fashion apparel markets in which we operate, and keep a tight control over our operating costs. We will also work to ensure our Glassons and Hallenstein Brothers brands remain market leaders in their respective market segments"
Not exactly positive is it. With Grahger selling down I struggle to see how +ve momentum can be reestablished. I sold half on the way up at $5.50 and some there on the way down and again more recently at slightly lower prices and am now out. That 4% by implication is 4.0% seeing as they have not defined it further. This is quite a big change from 4.8% for the period to 30 November. To move the year to date needle that much in only 9 more trading days implies early December trading has been quite considerably softer than the same 9 day period last year. A sign of things to come for the summer season or just a short term aberration ?...you folks be the judge.