HLG - Hallenstein Glasson

[macduffy]

Otherwise - this report is a timely reminder of how irrelevant the numbers can be which investors typically use to make their decisions ... only 10 weeks old and giving no clue of how the future (or even the present) might look.

So true, but can we expect any company to have a stab at future prospects just now?

[BlackPeter]

So true, but can we expect any company to have a stab at future prospects just now?

Probably not, though a bit more information about the sales performance and margins throughout this last quarter would have been welcome. Maybe they provide a separate update at some stage.

The future is clearly highly uncertain, i. e. I understand why they are reluctant to comment on their expectations.

What I don't understand is why the markets don't seem to price this uncertainty accordingly.

[macduffy]

What I don't understand is why the markets don't seem to price this uncertainty accordingly

It's probably a matter of trust in one of NZ's best managed and consistently performing retailers to continue to achieve in an uncertain market. May be misplaced, given the very uncertainty, but there's no denying that HLG has earnt its rating.

[Balance]

Probably not, though a bit more information about the sales performance and margins throughout this last quarter would have been welcome. Maybe they provide a separate update at some stage.

The future is clearly highly uncertain, i. e. I understand why they are reluctant to comment on their expectations.

What I don't understand is why the markets don't seem to price this uncertainty accordingly.

It's probably a matter of trust in one of NZ's best managed and consistently performing retailers to continue to achieve in an uncertain market. May be misplaced, given the very uncertainty, but there's no denying that HLG has earnt its rating.

Exactly, macduffy.

Under-promise & over-deliver - similar to Briscoes.

Market & shareholders will always give the company the benefit of the doubt - something that non-committed shareholders will never understand.

[Waltzing]

well would you investors here consider the stock to be fully prices at present. Any drop in earnings that puts its dividend under pressure and surely that must be a pull back in its price later this year unless the english university vacine is going to be released in the time frame of september . In 5 years where will the economy be? That's is the question and also for KMD.

[nztx]

Yeah, it certainly doesn't look pretty on paper does it?



I see in KMD's market update this morning... "Group online sales were 2.5 to 3 times higher than last year" That's a nice warm and fuzzy distraction from the real issue.

Meanwhile this bit for the property stocks... "Negotiating with landlord partners to achieve a fair outcome that sees rental costs aligned to sales performance"

What did they buy again ?

Surely their Overheads, Leases etc etc will be up by the same multiplier .. along with Losses whilst shut too


Give me the choice of either HLG or KMD any day -- I know which one I'd grab & which I would leave

[Waltzing]

nztx you would sell KMD into the good daily depth in KMD and buy HLG? Right now the market seems to want a lot of KMD. Short term you may be right but in a crisis time slows down when you in lock down and winter is upon us. Prehaps KMD will do another right issue next year as david kirk seems to have sold down his rights? But in 5 years time? Must buy one of those new woolen NZ made face masks to replace my boxes of crappy china made ones.. BUY NZ!!!

[macduffy]

well would you investors here consider the stock to be fully prices at present. Any drop in earnings that puts its dividend under pressure and surely that must be a pull back in its price later this year unless the english university vacine is going to be released in the time frame of september . In 5 years where will the economy be? That's is the question and also for KMD.

Who can tell in today's circumstances? I have the highest regard for HLG, the best of the listed retailers IMO, but I'm not buying anything just now.

What do you think?

[Beagle]

Hard to like at the current price given the challenges the company faces. I might reconsider if the shares more appropriately reflected my perception of the risk but that's a fairly long way south of the current share price. Good company, very well managed but most purchases are discretionary and can easily be deferred.

[tim23]

Hard to like at the current price given the challenges the company faces. I might reconsider if the shares more appropriately reflected my perception of the risk but that's a fairly long way south of the current share price. Good company, very well managed but most purchases are discretionary and can easily be deferred.

Not sure if all purchases are discretionary, plenty of essentials sold here, in fact they might pick up shoppers previously shopping at likes of Barkers who are being a bit more careful with their $ (I won't say hard earned because not all $ are hard earned!)