Just take care.Some or perhaps a lot of issues remain.A few unanswered questions.
Some landlords may not be fair.
Some stores may suffer from less foot traffic,and have to close when their lease expires.[could be 2 to 3 years time].
Rising NZ $ main affect margins.
Ten days sick leave mean instead of three weeks holiday, five weeks off.[can't close the store because percy is on holiday,will have to pay Beagle to come in]
yep, 4 weeks leave / 10 days sick leave (probably) / 10 days family violence leave / extra public holiday .... employers forking out heaps thee days
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
we always sell retail.... the care we take is in our custom software.
Now H&M we should have bought last week.
But we bought Helle Glassons again a few months back. HLG we often buy and we often sell.. It was first purchased by my late father and ACA well over a decade ago.
We would hold but the market just doesnt seem to want to keep the share price where it should be.
Jeez, what a injudicious use of scaling on HLG gross margin ...makes it look like a disaster and an impending train wreck. You can do better place than that
Even though Mander uses a scale on his chart that exaggerates the decline in HLGs margin the impact on the F20 result was $3.4m (negative) ...without that profits would have been up on F19
Not as bad as F19 when declining margins had an adverse impact of $3.8m
For what's it worth historical margins shown in my chart -- maybe a trend of lower margins developing but over time margins have been increasing.
I'll leave it to beagle to mention exchange rate
Only time will tell
Last edited by winner69; 03-10-2020 at 09:16 AM.
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
Pretty sure they do foreign currency hedging? Great to see the writer mentioned.....HLG has no debts Ever as the writer could remember! Plus Master Beagle said they have $50m cash!
"It's Hallenstein Glasson's unwavering focus on profitable, steady growth that makes the most difference for investors in the current uncertain world".
Nice concluding remark that beautifully encapsulates the essence of the company.
"Cash flow is the lifeblood of business, always has been and always will be" (Beagle)
Last edited by Beagle; 03-10-2020 at 09:56 AM.
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
Thanks again to ChCh City Libraries' Press Reader, I have managed to read Oliver Mander's HLG Weekend Herald article.
As always an excellent article that covers everything,including possible Glsssons expansion in Australia,which I found interesting.Nothing I can add to.
Pretty sure they do foreign currency hedging? Great to see the writer mentioned.....HLG has no debts Ever as the writer could remember! Plus Master Beagle said they have $50m cash!
Originally Posted by percy
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