HLG - Hallenstein Glasson

[see weed]

can't underestimate swifty

none the less a good pick up in aussie retail last month
https://kepleranalytics.com/week-ending-18-02-2024/
https://www.westpaciq.com.au/economi...ker-15-02-2024

likewise good pick up in glassons.com aussie traffic on pcp ( a good leading indicator)

disc: holder

Also likewise, a good pick up in sp in last 8 weeks. It appears an uptrend is forming from early January.

[DarkHorse]

Hi, been a while since I looked at HLG. Impressed with how they've weathered the storm. Potential of Glassons Australia continued rollout to give them solid growth - while still trading on deep value CF multiples. But seems slow atm. What are your expectations for Glassons store openings over the next 3-5 years ST members? (Any broker eps projections also appreciated)

[DarkHorse]

Hi, been a while since I looked at HLG. Impressed with how they've weathered the storm. Potential of Glassons Australia continued rollout to give them solid growth - while still trading on deep value CF multiples. But seems slow atm. What are your expectations for Glassons store openings over the next 3-5 years ST members? (Any broker eps projections also appreciated)

Would love to hear any thoughts on whether there's likely to be pickup in Glassons roll out in Australia?

[Rawz]

Would love to hear any thoughts on whether there's likely to be pickup in Glassons roll out in Australia?

My 2cents is that there will be continued methodical rollout.

Continued sensible capital allocation to store rollout and high dividends to shareholders.

Company has been around for 90 years and will continue to be around for next 90 years.

So my guess is there won’t be a rapid expansion of 100 stores in 2 years type thing

[winner69]

My 2cents is that there will be continued methodical rollout.

Continued sensible capital allocation to store rollout and high dividends to shareholders.

Company has been around for 90 years and will continue to be around for next 90 years.

So my guess is there won’t be a rapid expansion of 100 stores in 2 years type thing

Hallensteins been around for 150 years rawz …..Bendix opened his 1st in Dunedin in 1873

Glassons started in 1918

[Rawz]

Hallensteins been around for 150 years rawz …..Bendix opened his 1st in Dunedin in 1873

Glassons started in 1918

Incredible.

[DarkHorse]

Incredible.

Indeed.

RE GLASSONS AUSTRALIA GROWTH POTENTIAL:
It's interesting to see that although the Australian store rollout has been gradual - from 30 stores in 2018 to 36 today, sales growth has been exceptional, with good margins:
2018 $78m 2019 $89m 2020 $97m 2021 $134m 2022 $157m 2023 $191m
(NPAT $17m cf Glassons NZ 35 stores, sales $112m, NPAT $11m; Hallensteins 45 stores, sales $106m, NPAT $4m).

The interesting question for me is what Glassons Australia sales and npat could be in 3-5 years? Presumably growth in sales per store will plateau given already much higher than NZ, with rollout adding possibly $1m pa to npat over decades given 5x population in Australia and economies of scale?
Complete guess...would anyone more familiar with the company care to comment and do some crystal ball gazing?

[see weed]

Also likewise, a good pick up in sp in last 8 weeks. It appears an uptrend is forming from early January.

It looks to be still up trending for the last 10 weeks, from the low of $5.10 on Wednesday 3/1/24 at 10.30 am. The sp closed at $5.22 the same day and is now knocking on the $6 door. It might have something to do with the div announcement coming up on Thursday 28/3/24 which I am forecasting to be in the range of 22c to 24c but will not be surprised if it was held as the last one of 24c.

[see weed]

Wow it just hit $6.10. Now up $1 from 3/1/24.

[winner69]

Wow it just hit $6.10. Now up $1 from 3/1/24.

And heading back to 7 bucks plus