SCY Chart

[percy]

There have been some huge changes made to SCY's business.They should have been made 10 years or more ago.
Alectra service division divested.Was a loss maker.
Power Stores.Closed.Another loss maker.
Colombo Street store .Sold and leased back.
Finance Company.Being more active,ie offering customers personal loans,other than loans on products sold by them.
These are big changes for a company SCY's size and all done over chairman Craig Boyce's dead body.!!
So plenty of activity.
The only way I could see SCY making money is to do a Harvey Norman, and franchise parts of the business.

[winner69]

This doesn’t read like a very good announcement

Tough times

https://www.nzx.com/companies/SCY/announcements/309192

[moka]

This doesn’t read like a very good announcement

Tough times

https://www.nzx.com/companies/SCY/announcements/309192

“Meanwhile, the rebranding of the former Furniture City store in Whangarei, is showing early signs of delivering on its promise. Indeed, in the period it has been operating under the Smiths City ‘live better’ brand, its weekly sales have been 26% ahead when compared to the same period last year before the rebrand.

The Whangarei store opened 4 September and it had opening specials so yes sales should have been up.
I went in one Saturday 2 weeks ago at 10am and I was the only person in the store. I wasn’t impressed and I would be unlikely to visit again just to browse.
I liked Furniture City, as it had a good range of quality furniture at reasonable prices and I was disappointed to see them close. I have bought quite a bit from them over the years.

[percy]

This doesn’t read like a very good announcement

Tough times

https://www.nzx.com/companies/SCY/announcements/309192

No surprises there.!!

[percy]

Does not get any easier.

[winner69]

Does not get any easier.

Cautiously optimistic ....but not well positioned

[blackcap]

Cautiously optimistic ....but not well positioned

Sold mine on the previous announcement at 60 cents. Quite surprised the SP has stayed this resilient. Will look to get back in when "things improve".

[LAC]

Damn, that's a painful 6mth statement to read. Its just a tough business to be in

[percy]

Cautiously optimistic ....but not well positioned

If you care to read the out look statement, in every SCY annual report since 1991,26 years, you will note they have been cautiously optimistic.
We must keep in mind the share price of SCY and EBO, were very close in, I think, 1995.
So 10,000 SCY then had market value of $5,900.Same today,
while 10,000 EBO is worth $183,000 today.

Now that must focus any long term SCY shareholder's attention.

[winner69]

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.