Consumer discretionary
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Consumer wealth effect – Another nail in the coffin for retail spending.
Andreas Lundberg
June 19, 2017
Consumer spending has risen strongly in the past year, spurred on by property owners feeling richer due to higher house prices. This is called the household wealth effect. But with house prices looking toppy, should retailers – and investors – be concerned about the effects of a property market correction? continue…
by Andreas Lundberg Posted in Consumer discretionary, Property.
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Is a tsunami about to hit Aussie retailers?
Andreas Lundberg
May 31, 2017
In April, Amazon sent a wave of fear through retailers when it confirmed its intention to launch in Australia. Leading retailer, Gerry Harvey, described Amazon as the “Attila the Hun” of the retail world. To be sure, Amazon’s arrival will pose a massive threat. But there are other challenges on the horizon for retailers – and investors. continue…
by Andreas Lundberg Posted in Consumer discretionary.
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Where Amazon will hurt electronic retailers the most
Andreas Lundberg
May 15, 2017
We’ve been cautious on the retail space for some time – particularly retailers at risk of being hurt by Amazon’s entry into Australia. Two of the companies we believe will be most affected are the electronic retailers, JB Hi-Fi and Harvey Norman. continue…
by Andreas Lundberg Posted in Consumer discretionary.
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Retailers make hay while the sun shines
Roger Montgomery
February 15, 2017
Furniture and appliance retailers, like JB Hi-Fi and Harvey Norman, are enjoying their best trading conditions in a decade, buoyed by low interest rates and a renovation boom. Alas, these sunny conditions won’t last. And there’s more for the retailers to worry about than rising interest rates putting a clamp on demand. There’s also the small matter of Amazon setting up ‘down under’. continue…
by Roger Montgomery Posted in Consumer discretionary.
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It’s getting tougher out there for our retailers
David Buckland
February 8, 2017
Ask most retailers, and they’ll tell you it’s a tough, competitive environment out there. Recently, we’ve seen a number of established businesses hit the wall, under the twin assaults of online shopping and the entry of international brands. The bad news is: it’s not about to get any easier. continue…
by David Buckland Posted in Consumer discretionary.
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Can JB Hi-FI Grab a Bargain at The Good Guys?
Ben MacNevin
August 22, 2016
JB Hi-Fi has made no secret of its desire to snap up The Good Guys. The fact that its share price is trading at a premium to consensus suggests it will not only bid successfully for The Good Guys, but get it for a good price too. But big questions hang over both the success of the bid, and what price they will pay. continue…
by Ben MacNevin Posted in Companies, Consumer discretionary.
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Are the retailers cashing in or out?
Roger Montgomery
August 18, 2016
From the corner bakery and coffee shop to big box retailers, there are almost 140,000 retail businesses in Australia. Collectively, they account for more than 4 per cent of GDP and just over 10 per cent of employment.
by Roger Montgomery Posted in Consumer discretionary.
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TV reaches a big audience, but a TV doesn’t know who it’s talking to
David Buckland
August 11, 2016
Sam Courtenay from “In the Black” recently interviewed the Managing Director of Facebook and Instagram in Australia and New Zealand, Stephen Sheeler. Sheeler said he wanted to persuade businesses of all sizes that they can be as close to their followers as the local café that knows all its customers by sight. Traditional media has failed to pinpoint its customers. continue…
by David Buckland Posted in Consumer discretionary, Technology & Telecommunications.
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Woolworths – Market Expectations Factor in A Significant Reversal of Fortunes in FY17
Stuart Jackson
August 10, 2016
On 25 July, Woolworths provided a trading update that guided the market slightly lower on FY16 earnings. Given the negative sentiment surrounding the company, this was viewed as a positive outcome, and Woolworths’ share price appreciated 8.2 per cent on the day. Since then, Woolworths’ share price has drifted back 4 per cent, but remains well above its recent low of A$20.50 on 6 July. continue…
by Stuart Jackson Posted in Companies, Consumer discretionary.
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Can Public Investors Grab a deal with The Good Guys?
Ben MacNevin
June 6, 2016
The Good Guys is reportedly on the market (again), but we wonder how much value is on offer for public investors? continue…
by Ben MacNevin Posted in Consumer discretionary.