Yep, sales up 3.5% on pcp (probabaly selling less things) but margins down so NPAT down about $2m
I hate it when a company says they'll make up any first half shortfall in the second half ... generally doesn't happen so just as well Rod is a guru and in Briscoes case it will happen
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
A few insights in this article about Aussie retail
"Some people will be pulling back [on spending] while others are still spending like crazy, but on average people are spending like crazy," he says. ..... but 2023 might not be as good
v last year Total down 0.5% / Core Retail down 0.9% / Durables down 4.0%
Durables probably most relevant for listed retail - so down 4.0% not too good
Core Retail value down 0.9% but number of transactions down 8.8% gives some idea of volume and inflation impacts
I’m very confused by the Fuel spending being down dramatically year on year when fuel prices are significantly higher than they were a year ago….? That would imply transport movement is down dramatically.
I’m very confused by the Fuel spending being down dramatically year on year when fuel prices are significantly higher than they were a year ago….? That would imply transport movement is down dramatically.
fuel consumption is up year on year 6.4%, in actual dollars.
fuel consumption is down 6.1% on a SA basis relative to june. or down 2% in unadjusted raw dollar terms.
prices have fallen since june.
this page has slightly more detail. plus you can just click on the excel files to see everything for yourself. always a bit confusing what stats nz are refering to sometime (movement on prior year, movement on prior month on a SA basis, etc etc) https://www.stats.govt.nz/informatio...ons-july-2022/
but on the traffic point - the latest anz traffic index was sluggish.
I’m very confused by the Fuel spending being down dramatically year on year when fuel prices are significantly higher than they were a year ago….? That would imply transport movement is down dramatically.
Fuel spending in July this year was UP 6.4% on last year
They mentioned fuel prices fell in 2nd half of July .... probably why +6% in JUly is lower than +14% in June
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
I do know a lot of people who took overseas holidays over the alst 6 weeks (Aussie, Fiji, Raro & Hawaii specifically), I wonder if all those delayed holiday trips are now biting into local retail spending in terms of discretionary spend. Hard to tell if that would be a long lasting effect or just a temporary blip if so.
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