Aspect Huntley (1st Feb 2008) ~
WOW’s 2Q and 1H08 sales were below some quite bullish market expectations. Group sales from continuing operations increased 8.6% to $23.9bn for the 27 weeks to December 30, 2007. The rate of growth in headline and comparable store sales in anchor operation - Australian Food & Liquor slowed in 2Q against 1Q.
Business Impact:
The slowing rate of growth in comparable sales reflects a strong 2Q07 performance of 6.4% growth. Inflation in 2Q was 2.4% up from “less than 2%” in 1Q. NZ Supermarkets performed well with slowing headline sales in 2Q reflecting reduced trading area as rationalisation continues. BIG W’s robust 1Q performance was not maintained in 2Q and was a little below expectation. After solid growth in 1Q of 16.6% headline and 9.6% in comparable sales, the 2Q performance slowed to 10.6% and 3.6% respectively. There is no change to our FY08 NPAT estimate of $1.61bn following the 1H sales announcement. We remain confident of continued operating margin expansion.
Recommendation Impact: Recommendation upgraded to Buy.
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Last
$33.17 |
Change
0.160(0.48%) |
Mkt cap ! $40.52B |
Open | High | Low | Value | Volume |
$33.25 | $33.39 | $33.07 | $95.35M | 2.868M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 5 | $33.17 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$33.18 | 98877 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 5 | 33.170 |
1 | 21370 | 33.160 |
5 | 27600 | 33.150 |
1 | 16 | 33.140 |
2 | 3704 | 33.130 |
Price($) | Vol. | No. |
---|---|---|
33.180 | 56310 | 3 |
33.190 | 1450 | 1 |
33.200 | 3225 | 3 |
33.210 | 1660 | 1 |
33.240 | 1447 | 1 |
Last trade - 16.10pm 28/03/2024 (20 minute delay) ? |
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Last
$33.17 |
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Change
0.160 ( 0.47 %) |
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Open | High | Low | Volume | ||
$33.23 | $33.39 | $33.08 | 854095 | ||
Last updated 16.10pm 28/03/2024 ? |
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