MHJ - Michael Hill International.

[winner69]

Interesting quarter by quarter sales growth by country (included the pcp stuff)

Country / sep qtr growth / dec qtr growth ......from same qtr last year

Au. +14%. +6%
Nz. +9%. +1%
Ca. +30%. +20%
Us. +11%. -5%

So growth slowed a lot in dec qtr but heck still growth

Obviously ebit margin down if ebit $s remain about the same

Have faith .....remember sir mike said if you can't stand the ups and downs don't own our shares

[arcticblue]

There seems to be growth in sales but margin must be down quite a bit. There ebit is supposed to be in line with last year but they are adding $3.6mil from the PGP revenue and I would have thought a good portion of this 3.6mil is pure profit. So stripping that out there is an increase in sales but the profit from the sales is going to be lower than last year.

I do like the company especially the PGP part of it and Michael doesn't try to spin crap but just states the facts. However I think I'm going to have to sell out for now.

[noodles]

I hope that market sentiment/perception turns against it so I can buy some more shares cheap!

Where do you see the shares as cheap? I'm thinking under a $1.

[noodles]

If you hold right now, I don't see why you should sell today.

If you brought after the last quarterly review and extrapolated sales into earnings, you would have expected a better earnings result (significantly more). Given those earnings did not eventuate, I think it is an appropriate time to sell as your purchase decision was invalidated.

DISC: Do not hold MHI.

[winner69]

Sales slump probe in store for Hill chain
http://www.nzherald.co.nz/business/n...ectid=10858647

Jewellery firm will analyse unexpected drop in trading to identify any oversight.


Michael Hill Jeweller will conduct an analysis to make sure the worse-than-expected trading the firm experienced over the Christmas period was no fault of its own, says chief financial officer Phil Taylor

Must be feeling a good excuse has to be given to shareholders .... might need to revert to the old 'market conditions were tougher than we thought' ... 'but we are well positioned for when market conditions improve'

However can't hide the fact that sales growth slowed quite a lot in the December quarter .... and ebit margins shrinking is a bit a worry .... maybe Phil needs to a bit of analysis on that

[Jim]

Maybe MHI might consider set up some stores in China where the big money is

[kizame]

Retailing can be like that,it can be tracking along nicely up to xmas,then for some reason the pot just doesn't boil, so to speak.
You can do everything right,but the spending goes elsewhere.
I was a retailer for 15 years and sometimes the market just gets tired,but will revive at a later stage.
They along with Pascoes dominate their field,it would be of real interest to know how Pascoes and stewart dawson(and Farmers) traded,but alas they are private.

[Hoop]

Jewellery firm will analyse unexpected drop in trading to identify any oversight.

The Warehouse.....

[winner69]

Jewellery firm will analyse unexpected drop in trading to identify any oversight.

The Warehouse.....

oversight was an interesting word to use in this context ..... maybe they did overlook The Warehouse as a competitor .... but doesn't explain the rest of the world

[kizame]

oversight was an interesting word to use in this context ..... maybe they did overlook The Warehouse as a competitor .... but doesn't explain the rest of the world

You know the few times I went into the warehouse over xmas the jewellery store was never busy,in fact lucky if they had 1 person looking,max 2 people behind the counter,hmmmn nope don't think it's the warehouse.
I would by jewellery from michael hill but not the warehouse,my girlfriend is a fairly frequent customer of MH,she wouldn't buy jewellery at WH.