HLG - Hallenstein Glassons Holdings

[winner (n)]

264,000  https://www.investdirect.nz/app/news/urn:dt:7007709

Wonder what Warren going to do with Kevin's 33 million Ryman Shares

[bulltrap]

264,000  https://www.investdirect.nz/app/news/urn:dt:7007709

I think I saw these come up for air today in the sell depth, as one big blubbery order.

Didn't get a good look as I was too busy rowing in the opposite direction.

I might come back to pick over the remains.

[Basil]

https://api.nzx.com/public/announcement/451547/attachment/443249/451547-443249.pdf
Only 187K to go now.

[Fiordland Moose]

https://api.nzx.com/public/announcement/451547/attachment/443249/451547-443249.pdf
Only 187K to go now.

a net positive I reckon for the long term investor....
* large block of shares available to build a meaningful stake
* depressed impact on pricing when accumulating above stake
* good volume for NZX50 weightings
* a clear end to the selling, overhang on SP removed

[Basil]

a net positive I reckon for the long term investor....
* large block of shares available to build a meaningful stake
* depressed impact on pricing when accumulating above stake
* good volume for NZX50 weightings
* a clear end to the selling, overhang on SP removed

Agreed, and noting another 50,000 just went through at $7.60.
UNI on fire in Australia so its definitely not all doom and gloom out there in apparel retail.  HLG have a fortress balance sheet and trade on very attractive forward FY26 metrics. of only 10.5 times earnings.  https://www.marketscreener.com/quote/stock/HALLENSTEIN-GLASSON-HOLDI-6495564/
The calming of overseas markets should help too.

[Basil]

Only ~ 123,000 remaining now.

[Basil]

Sad news, Smith and Caugheys to close for good.  Contains interesting commentary on when various retail stores started operations in N.Z. including Hallensteins, 152 years ago.
https://www.nzherald.co.nz/business/companies/retail/smith-caugheys-to-close-the-rise-and-fall-of-the-grande-dame-of-queen-st-why-aucklands-famous-department-store-is-in-its-final-days/GHFUNNTYP5ETDEKKCZ4MV4ITAE/ Paywalled
Fascinating for me that part of the legacy of the early Caughey family was the gift of two beautiful parks to the people of Auckland, one of which, Craigavon, I quite frequently enjoy walking around with my dog....a very pleasant place to spend time.  Gosh...what a legacy.

[Clearasmud]

Thanks for that.
Hallensteins would have closed many years ago if it wasn't for the Glassons stores.

[Basil]

Hallensteins would have closed many years ago if it wasn't for the Glassons stores.

They're still profitable as a whole but there's no growth with the Hallensteins brand here and I do expect N.Z. store rationalizations in the years ahead.

[lorraina]

HLG have always been quick to exit any non performing Malls,for their stores.
A good indicator of a Mall's decline is Hallensteins moving out.

[KW]

They're still profitable as a whole but there's no growth with the Hallensteins brand here and I do expect N.Z. store rationalizations in the years ahead.

And don't expect growth from Australia.  There are tons of specialist menswear chains over there, so competition is already fierce in a market that isnt driven by fast fashion trends.  Crochet shirts aside 

[Basil]

And don't expect growth from Australia.  There are tons of specialist menswear chains over there, so competition is already fierce in a market that isnt driven by fast fashion trends.  Crochet shirts aside 

I think all investors are well aware that all the real growth is coming from Glassons Au.

[afc029871]

Reviewing the budget, the increase in Kiwisaver contributions is going to hit all NZ retailers with a 1% pay increase. At least with overseas business that softens the blow. However it will make it even harder for Hallensteins to grow at home.

[Basil]

Half a percent more from April 2026 and the other half from April 2028
On the other hand, maybe the 20% new asset write-off applies to new shop fixtures and fittings...don't know, haven't even looked at it yet.
The main impediment as I see it to Hallensteins recent lackluster performance has been the incredibly weak N.Z. economy.  Maybe the RBNZ cuts 50 bps on 28 May ?

[Pierre]

A 50 bps cut would give the economy a bit of stimulus that it desperately needs. Maybe our current RBNZ Governor might have the balls to push his colleagues to make the decision now that Orr is out of the frame.