consumer discretionary

7 takeaways from our US road trip

Ned Bell
Ned Bell Bell Asset Management

We recently met with 170 companies as part of a research road trip that crossed the US and Europe, to test existing investment theses, and look for new opportunities and trends. One key takeaway was that we have found far more attractive opportunities in global small to midcap (SMID) companies.... Show More

4 domestic bubbles caused by incentives

Martin Conlon
Martin Conlon Schroders

“Show me the incentive and I’ll show you the outcome” ... Charlie Munger’s quip is typically insightful and relevant to many of the ructions currently facing the domestic economy, including a number of key sectors like real estate, consumer discretionary, telecommunications and energy, all of which will be examined in... Show More

Why we don't see much value in JB Hi-fi

Tim Kelley
Tim Kelley Montgomery Investment Management

The recent move by JB Hi-Fi to acquire The Good Guys has a lot of investors excited. Largely, it seems, because the tie-up will help consolidate the retailer’s pricing power in an already concentrated industry. But while we’re happy to shop there, we’re not yet convinced JBH meets our investment... Show More

A competitive market for Woolies & Wesfarmers

Morgans Financial Limited

Woolworths and Wesfarmers both highlighted at their annual results that the competitive landscape in food and grocery remains robust. Competition has increased from new store expansion from Aldi, and the industry-wide focus to pass on efficiency gains to customers, and invest in lower prices. However, sales growth is likely to... Show More

Myer Holdings Limited 2015 AGM

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Kym Sheehan The Executive Remuneration Reporter

Myer Holdings 2015 AGM on Friday 20 November 2015 features a resolution relating to the long term incentive grants for new MD/CEO Richard Umbers. The New Myer transformation strategy is highlighted as the rationale for breaking the grant into the Initial Award and the Additional Award. I take a look... Show More

French volume growth takes a pause

QMG Insight

Standout sectors remain the same as last month, with autos and telecom equipment manufacturers still performing strongly…Average yoy volumes dropped from 2.34% to 1.88% this month…Average pricing remains flat at -1.32% cf. -1.41% last month… Consumer discretionary is driving growth at 3.44% volume growth, albeit down from 5.24%...Industrials have stalled,... Show More

Japan – QMG data continues to strengthen

QMG Insight

Whilst QMG data continues to improve, albeit at a gradual rate, Japan remains one of our preferred markets globally.... Average volume growth across our coverage universe is now +2% yoy (was +1% in January and dipped to zero growth in April - has now recovered strongly and we are on... Show More

JP Morgan has upgraded Harvey Norman to Outperform from Neutral, in a move that signals the receding pessimism in the consumer discretionary sector

Livewire News
Livewire News Livewire

JP Morgan has upgraded Harvey Norman to Outperform from Neutral, in a move that signals the receding pessimism in the consumer discretionary sector. It also found that sales performance in the company was improving whilst the outlook was supported by undemanding comparatives. However, JP Morgan appears to be a contrarian... Show More

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