HLG - Hallenstein Glasson

[Waltzing]

declining , competition? attempting to increase turn over? accounts for the high stock turn?

[sb9]

Good news for retail stocks: government says Auckland could drop to level 2, but with the border control around Auckland remaining in place. I think this signals an intent to drop to level 2 soon, but in a way that keeps Covid ringfenced to just Auckland (and so doesn’t create the impression that they are endangering rest of country by letting Auckland exit level 3 lockdown)

I would guess Oct 11th 11.59pm will be end of level 3.

I think AUS operations will pain them for a while yet with both NSW and Victoria reeling under spiralling case numbers.

[peat]

Updated my HLG database

May as well share this for what its worth

its a cyclical
on the way to 64 ?

HLGMgns.JPG

[clearasmud]

Business seems to be growing well though slightly disappointing that the final dividend hasn't been announced yet but plenty of time to announce a divi before Christmas.

[winner69]

Frustrating that rarely do all segments / divisions grow NPAT. There's always one that is a drag on group growth

This year Glassons NZ and reduced profits from property (no profit on sale)

Hallensteins actually grew NPAT instead of going back by a few million as they have done

Just as well for Glassons AU - would have sad overall picture if they hadn't done this well

One day we might see all segments growing profit at the same time

Table is the change in NPAT by segment for the few years

[Beagle]

Thanks for that table Winner, nice work mate, appreciated.
Glassons Australia is the real star...huge potential there with more than five times the population of N.Z.
Notice the huge growth there despite really protracted lockdowns in NSW and Victoria...that's very impressive !

[Waltzing]

Euro retail recovery continues. Aus should bounce back.

[nztx]

Euro retail recovery continues. Aus should bounce back.

Aust already is & has in places, as has US Ragtrade Retail in many recent reports ..

[LaserEyeKiwi]

It looks like the NZ operation is the source of the big jump in “selling expenses” - hence why it’s net profit actually dropped. Anyone have any idea what the story is here? Did they initiate a big pay rise over and above the minimum wage increase for store staff? I find the lack of any detail in todays release explaining the drop in net profit for the Glassons NZ operation as rather bizarre.

[Balance]

It looks like the NZ operation is the source of the big jump in “selling expenses” - hence why it’s net profit actually dropped. Anyone have any idea what the story is here? Did they initiate a big pay rise over and above the minimum wage increase for store staff? I find the lack of any detail in todays release explaining the drop in net profit for the Glassons NZ operation as rather bizarre.

The Gross Margin declined during the year due to a number of factors including unfavourable exchange rates with the US Dollar in both New Zealand and Australia as well as challenges with freight costs resulting from the ongoing global impact of COVID-19.