Wow some really sh it numbers that they put out after market on a Friday. Wonder what the price will be on Monday....
https://www.asx.com.au/asxpdf/201810...q4q3kryhpb.pdf
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Wow some really sh it numbers that they put out after market on a Friday. Wonder what the price will be on Monday....
https://www.asx.com.au/asxpdf/201810...q4q3kryhpb.pdf
Seems like they shot themselves in the foot big time. Hopefully they fix this, sold half my holding this morning.
I don't buy that michael hill are a slow moving train wreck. Seems like they had 1 average to poor year in their core NZ/AUS/CAN operations now they are changing strategy.
I imagine they want to be more like Tiffany and Co. i.e. premium/desirable brand, no need to discount. I read tiffany and co suprisingly have a lower gross margin (havent looked at their statements myself) but much higher revenue/store (their assets and fixed costs work MUCH harder, they have only 1 busy store in Auckland). Unfortunately Michael Hill have 30 years of being a middle of the road brand and you are right, you cannot turn that around easily. I feel their stores look better than competition in malls (but hey, I'm no female and definitely no expert), so maybe they can do it. I am not holding my breath which is why I sold half this morning.
PE still pretty HIGH @ 57 which indicated growth premium so with todays sobering sales ann where will they come from, imho PE for a retail share in this environment should be in the mid 20's , so what would that indicate as a share price for MHJ ?