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  1. #421
    percy
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    MHI have been in a solid downtrend since early November 2013.
    I do not see the trend reversing in the near future.

  2. #422
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    Quote Originally Posted by blackcap View Post
    Tis a small anecdote. But I was in the local MHI store yesterday talking with a lovely staff member who said that this years Christmas was better than last years. But that was for her store. She was unsure as to how other stores had traded.
    Emma & Roe stores usually have people in them each time I walk past. The stores are a nice extension to Michael Hill brand. I would also be interested in finding out how well their online store is doing.

  3. #423
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    Quote Originally Posted by percy View Post
    MHI have been in a solid downtrend since early November 2013.
    I do not see the trend reversing in the near future.

    I disagree, I think they will settle down around this range before they start slowly climbing up over time.

  4. #424
    The Wolf of Sharetrader
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    Quote Originally Posted by percy View Post
    MHI have been in a solid downtrend since early November 2013.
    I do not see the trend reversing in the near future.
    Mid to longer term it should be self arresting given the increasing yield (which surely they can maintain).

  5. #425
    Banned
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    Quote Originally Posted by nextbigthing View Post
    Mid to longer term it should be self arresting given the increasing yield (which surely they can maintain).
    I tend to concur. Follow the EPS and it can only go down so far before everyone starts bargain hunting and realising it's an undervalued asset.

    Chart wise, it already looks like a near term bottom is forming. Very oversold the past few weeks with the MACD dipping to its lowest point ever. The slide down the bollinger band was pretty precipitous once it failed @ $1.40 and the MA 50 and 200 failed to cross. PSAR says it's buy for a short-term bounce as the price is now inside the bollinger bands once again. Volume has been higher than usual on the fall so this may just be a breather before the next leg down. DMI shows sellers in complete control but it looks toppy as well.

    Conclusion: I'd be bullish for a very short-term play over a few days in trying to break $1.20 again, but beyond that I'd be bearish and very cautious!

  6. #426
    Guru
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    Seems solid enough to me: (same store sales up only down in Australia, good growth in US and Canada, NZ did well too)

    09/01/2015 08:30
    QUARTER
    PRICE SENSITIVE
    REL: 0830 HRS Michael Hill International Limited

    QUARTER: MHI: 6 Months Trading update to 31 December 2014

    Michael Hill International Limited
    6 months trading update to 31 December 2014

    The Group achieved same store sales growth of 0.8% for the 6 months in AUD.
    In local currency, New Zealand stores traded 4.1% up on the same period last
    year while Canada continued to experience solid growth finishing 4.4% up for
    the half year. The US achieved strong growth finishing 9.1% up for the half
    year, however Australia continued to be a difficult market and same store
    sales were 2.1% down on the prior period. Eight new stores were opened during
    the period and one closed. There were 285 Michael Hill stores trading at 31
    December 2014.

    As mentioned in the 2014 Annual Report, the Group is continuing to refine and
    test the Emma & Roe retail model and consequently this trading update does
    not include financial information for the Emma & Roe stores.

    As previously announced, the preliminary half year results for the 6 months
    ending 31/12/14 will be released to the NZX on Friday 13 February, 2015.

    Revenue from the sale of goods and services by Michael Hill Stores for the 6
    months to 31 December 2014 including PCP income:

    The following figures are in Australian dollars Last Year
    This Year % Var
    Australia same stores 166,574,835 163,086,147 (2.1%)
    New Zealand same stores 53,620,694 57,597,391 7.4%
    Canada same stores 35,347,063 36,241,877 2.5%
    United States same stores 4,552,888 5,196,566 14.1%
    Michael Hill same stores $260,095,480 $262,121,981
    0.8%

    Australia all stores
    169,768,935 168,637,663 (0.7%)
    New Zealand all stores 54,229,441 58,045,868
    7.0%
    Canada all stores 39,392,160 45,857,387
    16.4%
    United States all stores
    5,485,837 6,785,933 23.7%
    Michael Hill all stores $268,876,373 $279,326,851
    3.9%

    Exchange rates used for the 6 months:
    New Zealand 1.12 1.09
    Canada 0.96 0.98
    United States 0.92 0.88

    The following figures are in local currency Last Year
    This Year % Var
    Australia same stores AUD 166,574,835 163,086,147 (2.1%)
    New Zealand same stores NZD 60,257,625 62,751,477
    4.1%
    Canada same stores CAD 33,979,844 35,477,740 4.4%
    United States same stores USD 4,175,820 4,557,542 9.1%

    Australia all stores
    AUD 169,768,935 168,637,663 (0.7%)
    New Zealand all stores NZD 60,938,964 63,238,564 3.8%
    Canada all stores CAD 37,869,346
    44,873,993 18.5%
    United States all stores USD 5,029,956 5,957,139 18.4%

  7. #427
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    Quote Originally Posted by blackcap View Post
    Seems solid enough to me: (same store sales up only down in Australia, good growth in US and Canada, NZ did well too)
    Agree Blackcap, all that looks ok in aggregate, they just need to announce some solid EBIT growth in Canada on 13th Feb and they may well become the gem of the NZX retailers at present.

  8. #428
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    Quote Originally Posted by MAC View Post
    Agree Blackcap, all that looks ok in aggregate, they just need to announce some solid EBIT growth in Canada on 13th Feb and they may well become the gem of the NZX retailers at present.
    Cheers Mac, it seems we can agree on one stock at least . Yes you are right, the EBIT growth in Canada will be interesting to say the least. I do like how Canada is growing organically and if that can translate to bottom line then MHI could have some real upside movement. A bit concerned about their Emma and Roe model but we shall see how that pans out. Good to see a positive contribution from the States as well although very early days there.

  9. #429
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    I'm disappointed they did not include any financial information for Emma & Roe stores. I visited Emma & Roe store couple of times before Christmas. The store was beautifully laid out with beautiful jewellery and people in the store each time I have walked past. In my opinion Michael Hill is the jewel of retailing on NZX.

  10. #430
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    Better than I was expecting, happy holder:

    PROFIT ANNOUNCEMENT
    Michael Hill International Limited today announced an after tax profit of AU$23.697m for the six months
    ended 31 December 2014.
    Summary of Key Points (all values stated in AUD unless stated otherwise)
    • Operating revenue of $283.189m up 4.6% on same period last year
    • Same store sales were 0.9% up on same period last year
    • Revenue collected from Professional Care Plans of $19.924m up 13.4% on same period last year
    • EBIT of $34.980m up 17.6% on same period last year
    • Net profit before tax of $32.444m up 13.9% on same period last year
    • Interim dividend of NZ 2.5 cents per share
    • Equity ratio of 50.3% at 31 December 2014
    • Eight new Michael Hill stores opened and one closed during the period
    • Total of 285 Michael Hill stores open at 31 December 2014
    • Total of eight Emma & Roe stores open at 31 December 2014

    https://www.nzx.com/files/attachments/207890.pdf

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