SCY Chart

[Sideshow Bob]

To quote SD:

So, in other words, you have nothing?

[shasta]

DO your shopping at Smiths City help out NZ and YOURSELF.. also thanks for not being a SHAREHOLDER..

Where do Smith City buy there products from?

[BRICKS]

Where do Smith City buy there products from?

PHONE them up and ask THEM..

[Stranger_Danger]

Bricks, do you actually know anything about this company other than their name?

[BRICKS]

Bricks, do you actually know anything about this company other than their name?

TELL me something that we can all use..

[Stranger_Danger]

I don't have any insider info or anything other than an opinion. You're the one close to this share *cough*

Given they operate on razor thin margins but have - to date - been somewhat sheltered by consumer senitment due to their South Island focus, I wonder about the current year seeing as the farming sector seems to have peaked.

Also, the fall in the NZ dollar can't be helping them as an importer.

With a large part of their business being higher value discretionary, they're not the best place to be, somewhat offset by stable management, the tax benefits obtained a couple years ago and not too much of the "rah, rah" in their culture.

My guesstimate is to expect earnings to be down 20-25% this current financial year and have priced that into my valuation range. What earnings increase/decrease is priced into YOUR valuation?

Long term, they'll struggle to compete with the Harvey Norman's of the world on buying power, nor with the single store retailer on service fanaticism. They have a credible business, but no "economic moat". I would not pay for a "Buffett style" long term durable competitive advantage as I do not believe they have one.

In summary, I see a profit making, dividend paying company in a difficult sector that has done well to recover from oblivion, will survive these conditions and on guesstimate is currently slightly under valued to fairly valued.

Not a dog. Not a Buffett buy.

Now, your turn?

[BRICKS]

I don't have any insider info or anything other than an opinion. You're the one close to this share *cough*

Given they operate on razor thin margins but have - to date - been somewhat sheltered by consumer senitment due to their South Island focus, I wonder about the current year seeing as the farming sector seems to have peaked.

Also, the fall in the NZ dollar can't be helping them as an importer.

With a large part of their business being higher value discretionary, they're not the best place to be, somewhat offset by stable management, the tax benefits obtained a couple years ago and not too much of the "rah, rah" in their culture.

My guesstimate is to expect earnings to be down 20-25% this current financial year and have priced that into my valuation range. What earnings increase/decrease is priced into YOUR valuation?

Long term, they'll struggle to compete with the Harvey Norman's of the world on buying power, nor with the single store retailer on service fanaticism. They have a credible business, but no "economic moat". I would not pay for a "Buffett style" long term durable competitive advantage as I do not believe they have one.

In summary, I see a profit making, dividend paying company in a difficult sector that has done well to recover from oblivion, will survive these conditions and on guesstimate is currently slightly under valued to fairly valued.

Not a dog. Not a Buffett buy.

Now, your turn?

NOT a DOG, South Island expansion is put on hold, North Island is the new position mainly in the mid towns small at the moment but will grow, as for Harvey Normans NO threat as they come to Smiths to have there stock repaired and his store biz is just one great agent
stop for other firms he just rakes a FEE.. All firms are hurting but SCY price is RIGHT and you SD should be enlarging you holing at these cheep prices. But WB would love to visit Smiths if he lived in your country..

[Stranger_Danger]

I have a few Smiths City actually. I'm certainly not against the company.

As for Buffett, read the book he just co-operated with, specifically the bits about buying third rate retailers at a fourth rate price.

Whilst there are plenty of ways to turn a dollar doing things Buffett wouldn't do, to even suggest he'd give Smiths City a second glance shows ignorance of Buffett, or Smiths City, or both.

[BRICKS]

I have a few Smiths City actually. I'm certainly not against the company.

As for Buffett, read the book he just co-operated with, specifically the bits about buying third rate retailers at a fourth rate price.

Whilst there are plenty of ways to turn a dollar doing things Buffett wouldn't do, to even suggest he'd give Smiths City a second glance shows ignorance of Buffett, or Smiths City, or both.

NEVER suggested that he would buy,, But he did say he never BUYS Mice companies
any more that he needs elephant companies now you cant apply every situation to his style
you should read Buffett letters they are up to date and make good reading for POOR people
like yourself..

[BRICKS]

UP, because when your at the bottom its the only DIRECTION..