MHJ - Michael Hill International.

[peat]

Does anyone on Sharetrader know anyone who shops at Michael Hill.?

I have a silly amount of softness for Michael Hill because he helped me buy my first house.
Back early in the life of peat I didn't have enough for a house deposit so I did what Mary Holm would never do - I put what I had into Michael Hill Shares, and it quickly made me enough to top up the deposit. Of course that was ages ago and was a punt which went well and that's possibly why I have brand loyalty.

The thing is though, this company is not run by the man himself these days so its very hard to have the faith.

To answer your question yes occasionally we shop at Michael Hill for a trinket of sorts, but only once or twice a year.
But I wouldn't invest at the moment. Unlikely to show strong growth anymore.

[winner69]

ps I sold my LOV shares .sp is currently a bit high for me to consider buying them again.
MHI will have to show real growth not only in Canada,but Aussie and NZ too before I would look at them.

I think you’d be waiting a long time to see some real growth in NZ and Australia.

In spite of their efforts sales in both countries have only grown at 2.4% pa over the last 5 years (local currency)

Australia must be a worry because store numbers have gone from 162 to 171 in that time. At least modest NZ growth has been achieved with no increased store numbers.

Interesting they sell more per store in NZ than they do in Australia ....don’t know what this means except maybe highlights how hard Aussie retailing is.

MHJ a Canada story if you want to get rich .....and for somebody down this part of the world that makes it a risky type of investment.

[percy]

Just did not want to dash any of the "true believers" hopes.
I agree with you ,NZ and Aussie per store growth will not happen.

[winner69]

Just did not want to dash any of the "true believers" hopes.
I agree with you ,NZ and Aussie per store growth will not happen.

I think the ‘true believers’ are really hoping like hell that Canada takes off big time and that NZ and Australia don’t go backwards

[MauroNZ]

Yes I would think quality jewellers with a good reputation will do well on line.
Cheap end of the market is more impulse buying,what I call the Mars Bar,cake of chocolate,lotto ticket etc where LOV will continue to do well.

ps I sold my LOV shares .sp is currently a bit high for me to consider buying them again.
MHI will have to show real growth not only in Canada,but Aussie and NZ too before I would look at them.

Do you still hold MHJ? Without going much in detail I agree that LOV seems expensive and that is why I didn't have a detailed look.

[MauroNZ]

I have a silly amount of softness for Michael Hill because he helped me buy my first house.
Back early in the life of peat I didn't have enough for a house deposit so I did what Mary Holm would never do - I put what I had into Michael Hill Shares, and it quickly made me enough to top up the deposit. Of course that was ages ago and was a punt which went well and that's possibly why I have brand loyalty.

The thing is though, this company is not run by the man himself these days so its very hard to have the faith.

To answer your question yes occasionally we shop at Michael Hill for a trinket of sorts, but only once or twice a year.
But I wouldn't invest at the moment. Unlikely to show strong growth anymore.

Nice story and sometimes I feel a good company can be helpful as it was in your case.
Unfortunately I can't see any getting better in the short term and I feel that I might be missing another chance out there but I also couldn't decide yet where to go.

[MauroNZ]

I think you’d be waiting a long time to see some real growth in NZ and Australia.

In spite of their efforts sales in both countries have only grown at 2.4% pa over the last 5 years (local currency)

Australia must be a worry because store numbers have gone from 162 to 171 in that time. At least modest NZ growth has been achieved with no increased store numbers.

Interesting they sell more per store in NZ than they do in Australia ....don’t know what this means except maybe highlights how hard Aussie retailing is.

MHJ a Canada story if you want to get rich .....and for somebody down this part of the world that makes it a risky type of investment.

That has been my concern in the last year or so but then given almost any good company is priced today I struggle to think of an option.

[BeeBop]

[QUOTE=peat;727969]I have a silly amount of softness for Michael Hill because he helped me buy my first house.
Back early in the life of peat I didn't have enough for a house deposit so I did what Mary Holm would never do - I put what I had into Michael Hill Shares, and it quickly made me enough to top up the deposit. Of course that was ages ago and was a punt which went well and that's possibly why I have brand loyalty.
/QUOTE]

Snap - me too....he made a big impact on my personal home mortgage those years ago....I am looking at them again as my initial numbers on a $1 share price are good. But will wait a bit....I got out well before their US journey. NZ companies often fail in expansions (Pumpkin Patch) as they don't hold a strong central control.

[Beagle]

I have a silly amount of softness for Michael Hill because he helped me buy my first house.
Back early in the life of peat I didn't have enough for a house deposit so I did what Mary Holm would never do - I put what I had into Michael Hill Shares, and it quickly made me enough to top up the deposit. Of course that was ages ago and was a punt which went well and that's possibly why I have brand loyalty.

The thing is though, this company is not run by the man himself these days so its very hard to have the faith.

To answer your question yes occasionally we shop at Michael Hill for a trinket of sorts, but only once or twice a year.
But I wouldn't invest at the moment. Unlikely to show strong growth anymore.

Yes that is an emotional attachment that I can understand why one would hold as an enduring memory however I couldn't help having a bit of another chuckle on the flight back from Queenstown the other evening reading the inflight magazine advertisement about Seiko watches made since 1881....the breathtaking arrogance of the man putting his name on all watches, making them in China and trying to put them out there as quality.

What would Seiko making watches since 1881, Tag Heuer since 1860 or Omega since 1848 know about watch making right ?...lol Not one of them are any good so lets not stock them because we as the owners know better....or is it just plain corporate greed and the margins are much bigger by a factor of perhaps as much as ten so it doesn't matter if most people simply walk out in disgust...as long as there's enough stupid one's to buy our complete rubbish pitched at premium prices who cares right ?

The whole house brand thing and hoping people are silly enough to buy only a house brand has proven itself to be a flawed concept, Dick Smith a classic example.
Imagine going to your local supermarket and all their was in the whole store was various food items all with the same house brand label and all made in China...yes the concept really is that flawed.

But what would I know...if you sell just a moderate number of watches for $700 that perhaps cost just $10 to make in China there's a buck to be made and who cares about ethics and customers right to chose anyway...

[winner69]

CEOs don’t come cheap ....for MHJ probably $2m plus

http://nzx-prod-s7fsd7f98s.s3-websit...204/287153.pdf