One of Australia’s best retailer’s, Brett Blundy sits on the board and controls just under 20% of the capital. Blundy controls Lovisa (LOV) which is performing spectacularly and has no debt. He also established Bra’s and Thing’s and Sanity Records. I think he may have a tilt or if he doesn’t then any other offers would have to be a a high price to get him to exit Adairs.
Secondly another director Trent Peterson, who represents Catalyst Private Equity has been buying up shares in his own name so he is a strong believer in the value of ADH.
My view is that ADH has built a great business and leads its category. Online sales represents more than 15% of total sales and is growing well. It has a fantastic loyalty program whereby loyalty members spend more per transaction than non members. When it reports tomorrow you will see a much lower debt to equity ratio below 20% and possibly as low as 15%. It has class leading LFL sales growth and generates a high gross margin.
It’s only issue is logistics and under the right owner with better logistics it could generate massive cost benefits. And all of this at a time when consumer spending is weak. Just imagine the sales and profit growth when consumer sentiment turns around? Adair’s is a very attractive T/O target IMHO.
Cheers......Daicosigod
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Last
$2.57 |
Change
-0.030(1.15%) |
Mkt cap ! $444.7M |
Open | High | Low | Value | Volume |
$2.61 | $2.64 | $2.54 | $2.173M | 844.6K |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 4088 | $2.54 |
Sellers (Offers)
Price($) | Vol. | No. |
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$2.59 | 113762 | 2 |
View Market Depth
No. | Vol. | Price($) |
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1 | 4088 | 2.540 |
1 | 799 | 2.530 |
2 | 1199 | 2.520 |
1 | 799 | 2.510 |
2 | 3799 | 2.500 |
Price($) | Vol. | No. |
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2.590 | 113762 | 2 |
2.600 | 22175 | 5 |
2.610 | 799 | 1 |
2.620 | 799 | 1 |
2.630 | 7786 | 3 |
Last trade - 16.10pm 29/03/2024 (20 minute delay) ? |
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Last
$2.58 |
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Change
-0.030 ( 0.39 %) |
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Open | High | Low | Volume | ||
$2.61 | $2.64 | $2.55 | 177485 | ||
Last updated 15.59pm 29/03/2024 ? |
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