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30-03-2020, 02:40 PM
#4131
Originally Posted by trader_jackson
Was someone on here telling us it was all good because one is holding for the dividend (so share price doesn't matter) or something like that? And a bit of a worry NPAT was already going backwards (prior to things turning even worse - mainly, the NZD going down further against the USD and not being able to do business for at least 4 weeks, probably longer)... no worries, being in business over 100 years is certainly a nice story, and hopefully that story continues.
More bad news to come I suspect. GLH.
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30-03-2020, 02:48 PM
#4132
Originally Posted by kiwidollabill
For the year.
Best case -25%, worse case -75%
Comparable in size/scale to HLG but different sector of the market.
Interesting, I had this pencilled as -30% for the year as base case.
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30-03-2020, 03:10 PM
#4133
I still contend strategic withdrawal from Aussie is very likely
”When investors are euphoric, they are incapable of recognising euphoria itself “
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30-03-2020, 03:16 PM
#4134
Originally Posted by winner69
I still contend strategic withdrawal from Aussie is very likely
Okay, I'll take the bait. I am curious mate. Why do you think that's likely ?
Glassons have been growing really strongly over there and profitability has been very good there too, up until now of course.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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30-03-2020, 03:23 PM
#4135
Mall owners don’t operate on standard ADLS leases so no generic escape/access clause as per other commercial property operators. No doubt the malls will offer concessions but you would imagine it’s still a huge hit to HLG bottom line, what’s the monthly staff/lease liabilities at the moment ?
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30-03-2020, 03:30 PM
#4136
I agree with beagle, I don’t see why they would kill the golden goose because it isn’t expected to lay an egg for a few months.
Thanks for that info boysy have just googled that.
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30-03-2020, 04:04 PM
#4137
I would think that Hallensteins and Glassons would be regarded as anchor tenants in a lot of malls and that owners would be keen to keep them. If concessions are necessary I'd expect to see some mutually beneficial solutions.
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30-03-2020, 04:12 PM
#4138
Originally Posted by macduffy
I would think that Hallensteins and Glassons would be regarded as anchor tenants in a lot of malls and that owners would be keen to keep them. If concessions are necessary I'd expect to see some mutually beneficial solutions.
Sorry, but I would have to completely disagree... I would be very surprised if Hallensteins and Glassons were considered anchor tenants in any mall/complex, so they would not be able to throw their weight around like a typical Farmers or The Warehouse of JB Hifi would... however there is likely to be 'somewhat' of a solution to help... whether it is mutually beneficial (aka both sides benefit the same) I am not too sure on either... I would think Hallensteins and Glassons would be very lucky if it was mutually beneficial.
Last edited by trader_jackson; 30-03-2020 at 04:15 PM.
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30-03-2020, 04:14 PM
#4139
Dito I would not call HGL an anchor tenant at all they are no supermarket or farmers or Kmart their floor area is modest in most malls compared to other retailers afterall. This could be different throughout the country but not the case in any Auckland malls .....
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30-03-2020, 04:28 PM
#4140
They got a few million in the bank but that won’t last long
Be a new experience for them talking to banks for a loan to tide them over
”When investors are euphoric, they are incapable of recognising euphoria itself “
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