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Thread: MHI Chart

  1. #646
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  2. #647
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    Quote Originally Posted by blackcap View Post
    Time to load up

  3. #648
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    I've been thinking of topping up given the low current price is.

  4. #649
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    Quote Originally Posted by percy View Post
    311 stores producing a revenue of $315 mil,or just over $1mil revenue per store.NZ stores are well over $1mil while Canadian stores are well under $1mil per store.That figure reduces when we take off the $9.5mil generated from online sales.On line sales at 3% of total sales have a lot of ground to make up.
    Net profit after tax is $19.5mil or $62,700 per store,or $1,200 per store per week.
    Still very early days repositioning the brand from discounter to good value store.
    Their store fit out is a lot more expensive than Lovisa's which means their pay back time is in years rather than months.
    Looking at Lovisa store compared to a Michael Hill store, it is easy to note which is busy and which is not.
    So I remain of the opinion LOV is the better company to invest with.LOV has a proven model that works worldwide.
    Above post on 12th March 2019.
    At that time MHJ share price was 78 cents.................Today 58 cents,down 25.5%
    while LOV's share price was $9.62.............................Today $11.40 up 18.5%.
    I expect both copmpany's share price trend to continue.

  5. #650
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    Quote Originally Posted by blackcap View Post
    Plenty underwater to date

    Might need to get heaps more to average down
    “In a roaring bull market, knowledge is superfluous and experience is a handicap.”

    –Benjamin Graham”

  6. #651
    percy
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    Brave buyers at 54 cents.!

  7. #652
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    Quote Originally Posted by percy View Post
    Brave buyers at 54 cents.!
    Another lesson here for me. Bought at $1.28 almost 6 years ago and is funny how it had dropped in the last few years. I must acknowledge I was late to learn when to exit.

  8. #653
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    The pain continues.

  9. #654
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    I remember rob fyfe bought huge lots of MHJ after getting into this trainwreck for 70 cents...

    This goes to show that not all director purchases should be viewed as positive...(at least momentarily)

  10. #655
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    Quote Originally Posted by percy View Post
    The pain continues.
    Performance has improved quarter by quarter.
    Last edited by Lease; 11-07-2019 at 09:44 AM.

  11. #656
    percy
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    Quote Originally Posted by Lease View Post
    Performance has improved quarter by quarter.
    Not so.Margin reducing ,huge staff back pay.Millions.

  12. #657
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    Quote Originally Posted by percy View Post
    Not so.Margin reducing ,huge staff back pay.Millions.
    I focus on sales. We don't know margin yet until annual report released. Staff pay back is one-off cost. MHJ valuation has been down to multi-year low should be a good buy.

  13. #658
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    Quote Originally Posted by Lease View Post
    I focus on sales. We don't know margin yet until annual report released. Staff pay back is one-off cost. MHJ valuation has been down to multi-year low should be a good buy.
    They have stated margin contraction.
    That means margin contraction.
    That means to get the same profit, you need to "greatly" improve sales.That is not happening.
    11 store closures come at a cost.
    10 new stores will take years to recover their fit out costs.
    In plain language it is a disaster.
    Only positive is increase in online sales.But comes off an extremely low base and now only accounts for approx 3% of sales.
    Last edited by percy; 11-07-2019 at 10:51 AM.

  14. #659
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    Quote Originally Posted by percy View Post
    They have stated margin contraction.
    That means margin contraction.
    That means to get the same profit, you need to "greatly" improve sales.That is not happening.
    11 store closures come at a cost.
    10 new stores will take years to recover their fit out costs.
    In plain language it is a disaster.
    Only positive is increase in online sales.But comes off an extremely low base and now only accounts for approx 3% of sales.
    Half year operating profit margin down to 9%. Market has been fully aware the margin contraction, and has act accordingly. I don't think there will be further margin contraction. SP has down from 80C to 55C. I estimate EPS at around 8C. MHJ both PE and PB have be down to historical low.

  15. #660
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    Quote Originally Posted by percy View Post
    They have stated margin contraction.
    That means margin contraction.
    That means to get the same profit, you need to "greatly" improve sales.That is not happening.
    11 store closures come at a cost.
    10 new stores will take years to recover their fit out costs.
    In plain language it is a disaster.
    Only positive is increase in online sales.But comes off an extremely low base and now only accounts for approx 3% of sales.
    Yes percy they did mention margins - a full year gross margin of 61.1%, compared against 62.8% for the prior year.

    That’s 1.7% points gross margin drop

    On $560m that’s nearly a $10m margin hit ...aussie dollars ...straight through to bottom line.

    Once a trend starts (during transformations) it usually continues or at best it’s hard to arrest a down trend
    Last edited by winner69; 11-07-2019 at 11:06 AM.
    “In a roaring bull market, knowledge is superfluous and experience is a handicap.”

    –Benjamin Graham”

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