Some retailers are shining!
Today Premier Retail announced a positive trading update for their 1H17 that ended on 28 January 2017 reflecting total sales growth in excess of 7% and underlying EBIT growth in the range of 9.4% to 10.6% when compared to the 26 weeks in the prior comparative period. This is a decent scorecard and reflects just how bifurcated the market is with several high-profile specialty retailers such as Marcs, David Lawrence, Herringbone, Rhodes & Beckett, Payless Shoes and Pumpkin Patch going into voluntary administration in recent weeks.
Grant Oshry
Perennial Value Smaller Companies
Whilst consumer tastes and competition are certainly part of the reason for the changing consumer landscape, management is also a key determinant, with Premier Retail having one of the best retail management teams in the country and certainly on the ASX.
The consumer discretionary sector had retraced 6% since the start of CY17 following a broker / client update with mixed anecdotal December 2016 and January 2017 trade feedback, which, together with the spate of specialty retailers falling into VA listed above, weighed on Premier’s share price. Whilst short-interest in the stock is negligible, a strong share price recovery is expected.
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Grant's core responsibility is managing the smaller company funds and researching small capitalisation industrial stocks. Prior to joining Perennial Value 14 years ago, Grant held the position of Manager in the Unit Pricing and Distribution Division of MLC Limited. Previously, Grant was an Equities Dealer and Small Cap Analyst at Deutsche Asset Management in South Africa. He also qualified as a Chartered Accountant at Arthur Anderson in South Africa, while working in their Auditing Division. Subsequent to immigrating to Australia, Grant re-qualified as an Australian Chartered Accountant and is a member of the Institute of Chartered Accountants in Australia.
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Grant Oshry
Director
Perennial Value Smaller Companies
Grant's core responsibility is managing the smaller company funds and researching small capitalisation industrial stocks. Prior to joining Perennial Value 14 years ago, Grant held the position of Manager in the Unit Pricing and Distribution...
Expertise
No areas of expertise
Grant Oshry
Director
Perennial Value Smaller Companies
Grant's core responsibility is managing the smaller company funds and researching small capitalisation industrial stocks. Prior to joining Perennial Value 14 years ago, Grant held the position of Manager in the Unit Pricing and Distribution...
Expertise
No areas of expertise
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