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  1. #1
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    Default HLG - Hallenstein Glasson

    Another retailer has issued a profit downgrade

    The Directors advise that group sales for the key trading period of December and early January have been equal with last year. This represents an improvement on the trend of -2% advised to the market 11th December 2006.

    Total group sales for the period 2 August 2006 to 22 January 2007 are -1% on last year, with same store sales -7%, which reflects a challenging summer season due to unfavorable weather conditions for apparel.

    Stock levels are well controlled, and the company is well positioned to move forward into the new winter season.

    Net profit after tax for the full 6 months to 1 February 2007 is projected to be in the range $9.8 to $10.0 million, down approximately -10% on the prior year ($10.9 million).

    I'm a long term holder of HLG, so not too worried by this announcement as HLG is still a very well run company
    Death will be reality, Life is just an illusion.

  2. #2
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    Default

    Is their profit margin going down?

  3. #3
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    quote:Originally posted by TheBoss

    Is their profit margin going down?
    Is sales are down 1% and profit is down 10%, then it possibly is. Then again, they say that stock levels have been controlled, so the margin may not be that much down.

    I guess we have to wait until the end of march for the announcement...
    Death will be reality, Life is just an illusion.

  4. #4
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    quote:Originally posted by Steve

    quote:Originally posted by TheBoss

    Is their profit margin going down?
    Is sales are down 1% and profit is down 10%, then it possibly is. Then again, they say that stock levels have been controlled, so the margin may not be that much down.

    I guess we have to wait until the end of march for the announcement...
    Just from the ann one would have say that profit margin down from 11% to 10%

    What has happened to Gross Margins we will have to wait and see

    If there is a concern it has to be the 7% decline in same store sales ..... that's some fall
    “In a roaring bull market, knowledge is superfluous and experience is a handicap.”

    –Benjamin Graham”

  5. #5
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    currently down to 500, down 12 cents, on a grand volume of 984 shares.
    i see that there already buyers at 501 and 502, but the nearest seller is 512.
    this stock is sufficiently bouncy to make a good trade stock, but am currently happy as a long-term holder also.

  6. #6
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    not sure that the words above are all that sensible!
    hlg has had an extraordinary go-nowhere 12 months.
    a couple of big bounces outside the range of 490-530.
    the div is 6.8%, p/e is 14 which make it an ok hold, but would like to see some steady progress.

  7. #7
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    quote:Originally posted by scamper

    the div is 6.8%, p/e is 14 which make it an ok hold ...
    The historic P/E and yield are 14 and 6.8%. But looking at numbers rather than ratios, earnings were 36.62c per share and the dividend was 35c per share - a payout ratio of 95%.

    I don't place much faith in brokers' forecasts, but those I have seen indicate earnings marginally below last year. After a first half that was down approximately 10% on the prior year, there's an expectation of some recovery built into those forecasts for the second half. It wouldn't take too much of a slip for the dividend to be chopped, and the P/E to move up into the expensive range.

  8. #8
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    Breaking the support level may not be particularly significant in the context of today's market?

  9. #9
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    It has closed back at the $3.60 level. We will know next week if it holds...
    Death will be reality, Life is just an illusion.

  10. #10
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    My feeling is that as retailing gets tougher as the housing market recedes over the next year stocks like HLG and HBY and even CAV will become even better buys for the next up-cycle. No hurry to jump in.
    Hommel

  11. #11
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    The HBK store in the Meridian Mall in Dunedin appears to be closed, but I'm not sure if they have closed it or are simply re-modelling the store.

    Anyone know if HLG is reconsidering their HBK stores?
    Death will be reality, Life is just an illusion.

  12. #12
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    Quote Originally Posted by Steve View Post
    The HBK store in the Meridian Mall in Dunedin appears to be closed, but I'm not sure if they have closed it or are simply re-modelling the store.

    Anyone know if HLG is reconsidering their HBK stores?
    Steve, IIRC Hallensteins no longer own the HBK stores. I think they were sold to Pumpkin Patch a few years ago.

    SNOOPY
    To be free or not to be free. That is the cash-flow question....

  13. #13
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    Quote Originally Posted by Snoopy View Post
    Steve, IIRC Hallensteins no longer own the HBK stores. I think they were sold to Pumpkin Patch a few years ago.

    SNOOPY
    I will scroll thru the announcements and post my question on the PPL thread...
    Death will be reality, Life is just an illusion.

  14. #14
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    some hilarious (sad) history here.
    the historic (I've learned from you Deev8) yield is now 14.89% and the p/e 8.83...
    however, there is a 10 cps div coming on 12 Dec, which isn't bad for a 235 c share...

    scamper bought these shares back in the mists of antiquity, and while i've occasionally added and shed some, am still a fundamental holder looking at nearly 90% profit.
    does anyone else have a similar history? cheers.

  15. #15
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    Yo Scamper
    I had a history with HLG, held for a number of years.
    When the bears became apparent I cleaned out the cupboards so to speak, two months too early but these bear buggers dont post a date.
    HLG reluctantly, was amoung them.
    I have always felt that they were/are still, a very well managed company,
    with a very good retailing model.
    I am still watching and waiting as I think they still have some SP downside
    yet, due the retail sector in general.
    Rebound.....My guess, March 2009 will tell
    Cheers BB

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