HLG - Hallenstein Glasson

[macduffy]

The dividend is historically superb, though more due to P/E compression of late. I don't have any Hallensteins shares but they do seem to be very good retailers. My only worry is that they are forgoing opportunities for growth by paying out so much cash to shareholders.

They tried the growth bit several years ago in Australia with mixed results. Perhaps they've concluded that clothing retailing is a crowded market with only limited opportunities for growth; that it's better to concentrate on improving the current business rather than spending a lot of capital on expansion?

Disc: Don't hold but have often considered buying what has been one of NZ's consistently better retailers.

[Arbroath]

FWIW I was in ST Lukes just after new year and Glassons and Hallenstiens stores were incredibly busy. I was very surprised...both stores were really teaming with heaps of people.
Disc - Don't hold, just adding a tiny bit of anecdotal evidence.

Just a bit more anecdotal also.....in Melbourne Glassons foot traffic seemed moderate but Kathmandu was absolutely dead - went into 2 stores on different days and I was the only one in there apart from staff in major stores .....prob more relevant to KMD thread but all the stuff was overpriced and marked down to still over priced levels - god knows how KMD will be turned around.

Disc - hold HLG at $3.19, no KMD

[winner69]

Month nearly over and WHS and MHI only retailers to tout how good they were over Xmas (verItas don't count)

No news from others suggest it was a bit ho hum for them - not bad but not good?

Might be a late Friday afternoon just before a long weekend for the shakers and movers coming up - hope not

[mikeybycrikey]

Last trading day of January today and still no update from HLG. Monday is going to be later than "late January".

Bad news coming at 5.01 pm, maybe?

[Antipodean]

I made contact through the investor website and have been informed that a NZX release will be made no later than the end of this week.

I am confident of a good announcement, given the general NZ positive indicators of the trading period.

Holding.

[winner69]

I made contact through the investor website and have been informed that a NZX release will be made no later than the end of this week.

I am confident of a good announcement, given the general NZ positive indicators of the trading period.

Holding.

Good one Antipodean

As a matter of interest what do see as an 'acceptable' growth figure.

I would be disappointed if not at least 7% (bare minimum) - other wise my FY forecast shot to pieces

[Beagle]

Other retailers appear to have had a good Christmas season...even the humble WHS and KMD which have been struggling lately, Briscoes too (which is not a surprise) so its quite a curiosity to see such depth on the sell side and the price quite weak. Go figure ? Hope its not a 5.10 p.m. type NZX release if you know what I mean.

[winner69]

I think this is more than disappointing - really disappointing


https://www.nzx.com/files/attachments/229295.pdf

[winner69]

Half year sales up a miserly 1.3%

Gross margin 4% points below the same period last year due to the lower exchange rate and also to competitive influences.

Group net profit after tax down 20%

The dividend of 13 cents will make many happy

[winner69]

News out

Probably has expected in spite of pretty good retail environment

Result probably built into the price as all factors known ...but expectations might have higher (punters too excited?)

Share price could go up today - maybe $3.40 to $3.50