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  1. #441
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    Quote Originally Posted by Beagle View Post
    Its amazing how many people are conned by this though. The lovely Briscoes lady, Tammy wouldn't get involved in anything disingenuous, surely not
    You are grumpy today, Beagle! Come on, admit that Briscoes have done the right thing by paying back a subsidy that, in the event, they didn't need.


  2. #442
    The Kid
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    Quote Originally Posted by Beagle View Post
    Yes...it is all about perception, a trick Rod Duke has been using very successfully for many years. He makes people perceive they are getting a bargain when they're not.
    The last time I went into Briscoes...I don;t bother now unless there is no alternative I was looking for a very small lite vacuum cleaner for my office a few months back, not a huge area to vacuum and was tired of lugging the big home vacuum cleaner down to my office.

    Went into Briscoes and they has some small cheap piece of Chinese made junk there for $599 but was on sale for more than 60% off at $199. What a bargain...but my Beagle nose smelled a rat because it was so small and pathetic and couldn't possibly be worth anything like $599 retail which seemed like a total rort.

    Went into Placemakers afterwards to spend my airpoints before they expire or get confiscated by Air New Zealand and bought a better looking more robust looking machine for $99. Briscoes have been rorting customers for decades with their fake sales...just go to K Mart and their regular everyday prices are generally around half what Briscoes prices are on so called sale.

    People thinking this is a decent company doing the right thing are simply not aware that Briscoes use some very disingenuous sales tactics on unsuspecting people and have been doing so for decades.
    Beagle, next time splash out and get a Dyson, even vacumns up the dog hair.

  3. #443
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    Good for Briscoes, one of many now doing the right thing.

    Ryman should follow suit. Reporting record profit and dividend payouts while taking corporate welfare meant for struggling businesses is a bad look and evident of weak, low quality leadership.

  4. #444
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    Quote Originally Posted by winner69 View Post
    Biggest price fixers are Mitre 10 and Bunnings

    The find the same product at a lower price and we beat it by 15% or whatever is just price fixing

    Don't stock much product in common and no incentive to lower prices of common products is there
    Agree 100%. You think you have found something that is cheaper at one from the same supplier, but on closer inspection it is 10mm or 20mm smaller, or some such thing like a different pack size. It's an absolute con job.

  5. #445
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    Quote Originally Posted by Ferg View Post
    Agree 100%. You think you have found something that is cheaper at one from the same supplier, but on closer inspection it is 10mm or 20mm smaller, or some such thing like a different pack size. It's an absolute con job.
    Bunnings have different SKU numbers and have used these, at least in the past, to avoid their "beat it by 15%" clause.

    Also don't think you're getting a bargain on any and every product that these companies sell. There are large number of items that are more expensive at Mitre10 (for example) than other retailers. They bank on the big-box convenience factor, with low lead-in prices on regular sellers.

    But worse still are the business practices of these two companies with their suppliers.

    I don't have any specific information about how Briscoes interact with their suppliers, but I expect it will be very similar.

  6. #446
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    Rod buying up $1 million of shares.

  7. #447
    ShareTrader Legend bull....'s Avatar
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    Quote Originally Posted by jimdog31 View Post
    Rod buying up $1 million of shares.
    not from his div either
    one step ahead of the herd

  8. #448
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    Hes flagged strong growth and shareprice is not reflecting true value of the business so easy to see why hes buying. Been like this for a long while now, i've always put it down to low float and not much interest from analysts and instos

    He has one of the keenest eyes for value around

  9. #449
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    Smashing it.....

    https://www.nzx.com/announcements/362483

    3rd Quarter Sales to 25 October 2020

    3/11/2020, 9:42 amMKTUPDTEBriscoe Group Limited (NZX/ASX code: BGP)
    Highlights for the 3rd quarter (13 weeks) to 25 October 2020:

    • Total Group sales $161.3 million, +14.97%
    • Homeware sales growth, +12.28%
    • Sporting goods sales growth, +19.48%
    • Online sales mix of total Group sales, 16.3%
    • $11.5 million wage subsidy repaid in full

    Third Quarter: 27 July 2020 – 25 October 2020:

    The directors of Briscoe Group Limited announce unaudited sales for the third quarter period, being the thirteen weeks ended 25 October 2020, of $161.3 million, 14.97% above the $140.3 million for the same quarter last year. For the quarter, homeware sales increased by 12.28% to $98.7 million, while sporting goods sales were $62.6 million, an increase of 19.48% from the $52.4 million achieved for the equivalent quarter last year.

    Year-to-date: 27 January 2020 – 25 October 2020:
    Unaudited sales for the thirty-nine-week period from 27 January 2020 to 25 October 2020 were $453.7 million, an increase of 2.35% on the $443.3 million achieved for the first three quarters of last year. The Group’s homeware segment increased sales by 1.30% during this period and the sporting goods segment by 4.14%.

    Group Managing Director, Rod Duke said, “The significant increase in sales reported for the second quarter has continued through this third quarter. After trading interruptions due to Covid-19, we’re delighted in the way the Group has rebounded to produce consecutive quarterly double-digit sales growth. Importantly, this augurs well for continued strong sales as we commence the crucial final quarter.”
    On 8 September the company announced a half-year net profit after tax (NPAT) of $28.0 million. This result included $11.5 million of government wage subsidy which the Group was eligible to receive.

    On 16 October Board Chair, Dame Rosanne Meo, announced that after experiencing sustained sales growth since the end of the national lockdown, the Group would pay back all of the $11.5 million wage subsidy. Dame Rosanne said, “It’s the right decision for our company to pay back the subsidy given the strong sales recovery we experienced and reduced likelihood of another full national lockdown. We supported our employees in full through-out this difficult year and there were no redundancies or permanent store closures.

    “Notwithstanding the interim dividend announced by the Board, we think it’s important to recognise the support of our shareholders who have taken the financial brunt of Covid-19. They missed $28 million through the cancellation of our dividend payment back in March when the national lockdown was first announced. Although it was pleasing to be able to reinstate dividend payments at the half-year they are still one significant payment down.

    “It is a credit to the team led by Rod that we have come through this crisis so strongly. The energy and success of the team in continuing with new developments and initiatives during this extraordinary period has far exceeded the Board’s expectations.”

    Rod Duke said, “Clearly the repayment of the wage subsidy will impact our second-half and full-year results, as will the recent announcement by Kathmandu that they will not be paying a dividend at all for their financial year ended July 2020. Last year Briscoe Group received $6.8 million in dividends from our investment in Kathmandu. However, notwithstanding this, I am optimistic that if the current trading momentum continues, we can still produce a full-year result to the end of January of which we can be extremely proud.

    “The massive disruption to trading from Covid-19 has produced opportunities for us to re-think the way we construct our promotional activity and also how we process and manage the flow of inventory through the business. This is having a very positive impact on gross profit margin.

    “The Group’s online business continues to show impressive growth over last year and for the third quarter ending 25 October 2020 it represented 16.3% of total Group sales. The accelerated roll-out of Click and Collect across the entire store network was a significant achievement for us during lockdown. More than 25% of online sales during the third quarter were produced via our Click and Collect operation.

    “In addition, our strategic initiatives around; enhancing our customers’ shopping experience, improvements within our supply chain and sourcing new revenue streams are progressing well and we expect to see some ‘quick-wins’ emerging before the end of this financial year.

    “I am very confident that with the initiatives we have in place, the Group can produce a remarkable full-year result. Just how close we get to achieving last year’s profit will depend on how buoyant trading is across the crucial 4th quarter.”

    Tuesday 3 November 2020
    Last edited by Sideshow Bob; 03-11-2020 at 08:54 AM.

  10. #450
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    MKTUPDTE: BGP: 3rd Quarter Sales to 25 October 2020

    Briscoe Group Limited (NZX/ASX code: BGP)

    Highlights for the 3rd quarter (13 weeks) to 25 October 2020:
    o Total Group sales $161.3 million, +14.97%
    o Homeware sales growth, +12.28%
    o Sporting goods sales growth, +19.48%
    o Online sales mix of total Group sales, 16.3%
    o $11.5 million wage subsidy repaid in full

    Third Quarter: 27 July 2020 - 25 October 2020:
    The directors of Briscoe Group Limited announce unaudited sales for the third
    quarter period, being the thirteen weeks ended 25 October 2020, of $161.3
    million, 14.97% above the $140.3 million for the same quarter last year. For
    the quarter, homeware sales increased by 12.28% to $98.7 million, while
    sporting goods sales were $62.6 million, an increase of 19.48% from the $52.4
    million achieved for the equivalent quarter last year.”

    Wow pretty much square on my growth estimate. Great result from Rod and the team, they should be very proud

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