SCY Chart

[percy]

Actually well positioned - all those new houses Jacinda going to build will need stuff from Smiths City

Gerry Harvey said the best driver of sales was couples separating. ....ended up with 2 lots of most things. Maybe Smiths need more separations to happen.

Maybe had SCY followed Gerry Harvey's "franchise" model, 20 years ago, they would be "well positioned" for anything today.
Certainly shareholders would have benefitted.

[janner]

Noticed an Advert. From Smith City today ( In passing . Not looking ).

78% off RRP.. Really ???

Disc. Not a holder

[percy]

Oh dear.!!!!!!!!!!!!!!!!!!!!!

[Hectorplains]

Oh dear.!!!!!!!!!!!!!!!!!!!!!

The signs were there - massive discounting and 50 months interest free.

[winner69]

Oh dear.!!!!!!!!!!!!!!!!!!!!!

http://nzx-prod-s7fsd7f98s.s3-websit...845/277807.pdf

That’s a huge drop in revenues

Not big enough to be ‘big’ and will continue to struggle

Not surprised are we Percy

[winner69]

Alan Martin will be turning in his grave that his beloved Ngauranga store has closed down.

[percy]

http://nzx-prod-s7fsd7f98s.s3-websit...845/277807.pdf

That’s a huge drop in revenues

Not big enough to be ‘big’ and will continue to struggle

Not surprised are we Percy

Unfortunately "no surprises there".
The long tail of lease commitments, for underperforming stores does not go away until their leases expire.Three years into a six year lease means another three years of pain.In SCY's case a $4.8mil store lease impairment provision is equal to about three years net profit.A very long time to work for nothing.
Then there will be store closures,with redundancies and other costs.?
Then landlords will find out the true rental value of their properties,knowing full well if Smiths City can not make the site work,who can?.
I see the number of empty retail stores around the country growing quickly over the next couple of years.

[percy]

Alan Martin will be turning in his grave that his beloved Ngauranga store has closed down.

Craig Boyce would not be to happy either.
Never sell Colombo Street store.Core................Sold.
Must offer full service.Core....................Alectra sold/closed.
Gerry Harvey,JBHiFi,and I expect Leemings all face huge challenges.The amount of space they require for their stores means large rent commitments,the logistics of freighting large items,staffing,and advertising costs mean very slim margins.
Looking at their business models it is easy to understand why I love LOV.

[percy]

The exit door for shareholders appears to be closing.

[CD_CHCH]

The exit door for shareholders appears to be closing.

Why do you say the exit door is closing Percy? Is it due to the stagnant share price that is sitting at a record low or have I missed something else?