Women’s fashion retailer Mosaic Brands has sprung a major shock in its 2019-20 results by revealing a wide-ranging restructuring program that will see up 500 outlets shut, with hundreds of jobs to go as a result.
Read MoreAs expected Brisbane-based Super Retail Group has been another retail group to have a ‘good’ pandemic. Like a host of other retailers, Super Retail has performed well because its chains were able to continue trading during lockdown and demand increased for things like home gym equipment, car products, and camping goods.
Read MoreNew ABS data shows July’s retail sales rising 3.3% from June to be up a massive 12% from July 2019. That’s the strongest annual sales growth since June 2000, just before the introduction of the GST.
Read MoreLike many of its rivals, discount retailer The Reject Shop has had a good pandemic using the surge in demand from consumers to haul itself back into profit in the year to June.
Read MoreOnline retailer Kogan was yet another to confirm changed guidance for the year to June – this time on the upside (compared with the downgrades for BlueScope and loss for Lendlease).
Read MoreJB Hi-Fi has been one of the biggest benefactors of Australia’s coronavirus lockdowns, with thousands of Australians buying new TVs, monitors, laptops, phones, watches, and keyboards to help work from home throughout March and April.
Read MoreAustralia’s largest shopping mall group, the Westfield mall owner Scentre Group is looking at a sharp fall in June 30 half-year earnings and will slash the value of its 42 shopping centres across Australia and New Zealand by around 10% or about $3.8 billion thanks to the impact of the COVID-19 pandemic.
Read MoreRetail sales growth will not be as good as we saw in May and June for quite a while as Victoria locks down most of its retailers in an effort to control community transmission of the COVID-19 virus.
Read MoreThe volatility in retail sales data slowed dramatically in June, according to the mid-month update from the Australian Bureau of Statistics.
Read MoreTo earn that status, China must avoid a ‘trap’ among other challenges
Read MoreRetail sales might have jumped sharply in May, as expected after the strong preliminary report last month from the Australian Bureau of Statistics but for the first five months of 2020, the situation was a very different story.
Read MoreNZ-based Outdoors retailer Kathmandu looks like reporting a 30% fall in profits for the year to July and is not confident at all about prospects in the 2020-21 financial year starting August 1.
Read MoreFirst Kogan.com now Temple and Webster, the other major listed sole online homewares and furniture retailer will look to raise new capital from shareholders to help bolster its digital offering after the surge in sales earlier in the year during depths of the coronavirus lockdown, continued in June.
Read MoreTemple & Webster is solely online (like another boom-story, Kogan.com) and had already seen a big surge in sales (and positive earnings) before COVID-19 hit and that has continued, at a higher pace. Yesterday the online homewares and furniture retailer said it had nearly doubled its sales during the coronavirus lockdown.
Read MoreA strong boost to sales is expected for key business units of Super Retail from a resurgence in domestic travel. Moreover, market concerns regarding the company’s balance sheet should be put to rest now with the company undertaking a $203m capital raising
Read MoreOutdoor, sportswear, and car parts group, Super Retail Group plans to raise $203 million to help grow its business as it emerges into a post-COVID-19 lockdown world.
Read MoreAnother strong sales report from JB Hi Fi (and its Good Guys offshoot) to go with its surprisingly solid March quarter figures. As a result of the better than expected report the company has reinstated and upped its full-year guidance.
Read MoreHarvey Norman (HVN) shares jumped sharply yesterday after the electronics, whitegoods and furniture retailer revealed a special dividend for shareholders after reporting five months of booming sales during the coronavirus lockdown.
Read MoreSales activity at Bunnings and Officeworks has been stunning over the period of pandemic-related restrictions but signals there is very little operating leverage for Wesfarmers going forward.
Read MoreRealism from a major US department store chain about when life for it (and most retailers) will be back to pre-COVID-19 ’normal’. In an interview after releasing the barebones of its March quarter figures, Macy’s warned that its business was not likely to return to normal until late 2021.
Read MoreThe strains in retailing caused by the COVID-19 pandemic slamming retail sales in April and May has seen Vicinity Centres, one of the biggest shopping mall operators in the country heading for a $2 billion-plus loss for the final six months of its June 30 financial year in what will be the start of a round of huge write-downs for the sector.
Read MoreWhile department store operator, Myer is re-opening most of its stores this week, and yet rival David Jones is looking to close many of its 48 outlets across the country. It’s not that Myer is a financial or sales success story, far from it but judging from the trading update yesterday in South Africa from parent, Woolworths Holdings, David Jones’s is slip-sliding its way deeper into trouble.
Read MoreShares in women’s fashionwear group, City Chic Collective surged more than 15% yesterday on a strong trading update for its online business.
Read MoreFollowing a record 17.9% slide in retail sales for the month of April the final quarter of the June 30 year will be a rough one for Australia’s retailers.
Read MoreA massive week for the US retail sector ahead with most majors – and a few middle rankers – due to report their March quarter figures. Judging by the retail sales data for March – a slide of 8.3% – the reports won’t be healthy – except for giants like Target and especially Walmart.
Read MoreAnother rare winner from the COVID-19 crisis was confirmed yesterday – The Shaver Shop said it saw a massive 387% boost in online sales since the start of April, sending shares soaring 36%.
Read MoreFor all the optimism about the way some retailers are riding out the COVID-19 storm, yesterday Mosaic Brands provided us with a timely reminder from one of the hardest-hit sectors – clothing – about the deep damage done so far.
Read MoreAs expected retail sales were strong in March, despite the rapid spread of lockdowns designed to slow the COVID-19 pandemic but they ended up stronger than the first estimate issued a couple of weeks ago by the Australian Bureau of Statistics.
Read MoreOutdoor wear retailer Kathmandu has stepped up the re-opening of outlets as its online sales continue to ban. The group has been slowly re-opening outlets in Australia and now wants to accelerate the pace to where most of its stores in Australia will be open and trading by the end of this week as the COVID-19 restrictions are eased.
Read MoreFabric and home crafts chain, Adairs has ruled out the need for a capital raising and will start to slowly reopen stores from this Thursday after reporting a 37% drop in total sales during its store closures over the past 5 weeks.
Read MoreWhat can Wesfarmers do with its underperforming chain, Target? Brokers suggest the laggard of the group may be in line for a severe reassessment.
Read MoreWesfarmers says it will fast track its review of struggling department store Target in the wake of a sharp fall in sales through the retailer so far in April.
Read MoreA rush to stockpile groceries and office supplies ahead of looming COVID-19 lockdown measures pushed retail turnover up by a monthly record of 8.2% in March.
Read MoreKathmandu (KMD) seems to have struck a snag with Briscoe Group, the largest shareholder deciding not to participate in the outdoor wear retailer’s emergency $NZ207 ($A201 million) capital raising.
Read MoreMore retailers have closed their doors to limit the impact of the COVID-19 virus. Myer is standing down 10,000 staff straight away, Kathmandu is closing 170 outlets while South African controlled – David Jones is shutting 280 of its fashion brand stores including Country Road, Witchery, Mimco, and Politix.
Read MoreMajor women’s fashionwear retailer Mosaic Brands has become the latest chain operator to shut stores and stand down staff indefinitely. Casino operator, Star Group has also stood down around 90% of its staff of 9,000 while Wesfarmers has shut its Kmart stores in New Zealand as the coronavirus outbreak continues to escalate.
Read MoreJewelry chain, Michael Hill has become the first major Australian retailer to close its doors in light of the coronavirus pandemic, meaning the jobs of thousands of workers are at risk. Meanwhile, Woolworths has postponed its drinks demerger, Retail Food Group has dropped its guidance as has Shaver Shop.
Read MoreInvestors have paid no heed to partial figures from the ABS yesterday showing a 0.4% rise in seasonally adjusted retail sales in February. The rise came from the supermarket sector as other parts of retail, particularly associated with tourism or hospitality, are likely to plummet.
Read MoreAs widely expected Australian retail sales fell in January, while December’s drop was deepened in a revision – all pointing to the worsening dip in consumer spending that is sure to continue for months to come.
Read MoreThe retailer reported a 37% slide in first-half profit, thanks to more restructuring costs, redundancies and the loss of two major branded product lines in Apple and Country Road. There’s again no dividend to encourage shareholders.
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DOWNLOAD RESEARCH REPORTSecures binding contract with Tier-1 OEMUS based anode active project gathers momentumMagnis Energy Technologies (MNS.ASX) – MNS is planning an anode active facility in the US and recently announced a binding, yet conditional, contract for the supply of anode active with Tesla. The contract is for a minimum 17.5kt/year with an option to purchase another 17.5t/year. Conditions precedent carry a tight development timeframe, with first production scheduled for February 2025. Site selection is underway and co-locating with an OEM on a brownfields site makes sense. Long lead items have been ordered and detailed engineering and design is expected to commence soon. |
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December Quarterly Report: Q2 FY2023Looking past the rain – there’s a rainbow.TerraCom released their operating results for the December quarter FY2023 with operating metrics being in line with our forecasts. Unseasonal rains in both Australia and South Africa contributed to operational and logistical issues across all mines, however guidance for annual production at Blair Athol is unaffected and highlights the quality of TerraCom’s skills in operational management. We continue to like the stable operating metrics around the company’s Australian operations and see potential for the South African operations to benefit from increased management focus given the rationalisation of operations following the closure of the Ubuntu mine. Corporate Connects overall financials remain unchanged as does our target price of $1.35 share. We maintain our forecast for a fully franked quarterly dividend of 7.5c/share to be paid in the March and June quarters of FY2023. |
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DOWNLOAD RESEARCH REPORTHigh performance synthetic anode & cathode materials Building a US based materials supply chainNOVONIX (ASX:NVX) – is scaling a synthetic anode materials plant in the US and piloting nickel rich cathode material in Canada. Why? China is dominant and growing – 100% of global natural anode and 68% of synthetic anode is refined in China. In short, China controls the global midstream battery chain by controlling 60% of chemical refining, 87% of anode manufacturing, 61% of cathode manufacturing and 73% of battery manufacturing. It is global battery supply and price domination at scale. |
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DOWNLOAD RESEARCH REPORTAntisense Therapeutics (ANP) Taking a Quick Approach to Long COVIDThis report looks at the results of a collaborative study Antisense undertook which looked at the largest protein expression database in Long COVID-19 patients who experienced neurologic symptoms well after the primary or acute SARS-CoV-2 infection was considered over (Groups 1 & 2, with 48 subjects Group 2 comprising a single patient from a different clinical site). The symptoms and others experienced by such patients result in a highly significant amount of illness, possibly more than all primary SARS-CoV-2 infections i.e COVID-19. |
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DOWNLOAD RESEARCH REPORT4Q reveals more focus on profit and cash flow• LBY’s 4Q FY22 quarterly activities update showed continued solid growth in top line metrics, albeit slowing, with GMV of NZ$203m (+26% on pcp) and income of NZ$12.1m (+23% on pcp).
• Net Transaction Margin (NTM) disappointed at -0.5%, due to further increase in credit losses from 4.0% to 4.9% of GMV. However, new fraud and credit risk management tools have seen losses recover materially with NTM back to 1.2% in March and LBY is confident of further recovery in coming months.
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DOWNLOAD RESEARCH REPORTSigns MOU with Ford Company – Kachi is now sold out!Lake Resources (LKE. ASX) – LKE has signed two non-binding MOU’s in the space of 10 days. Ford Company (Ford) has signed an MOU for ~25,000t/year and last week Hanwa, a Japanese commodity trader signed a MOU for up to 25,000t/year. Subject to execution, this is an amazing feat as Ford and Hanwa are prepared to enter into longer-term strategic partnerships with LKE. Commercial negotiations are still ongoing but are expected, especially if Ford & Hanwa inject new equity into LKE, to further de-risk the project financing & thus ensure LKE and Kachi are fully funded. |
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DOWNLOAD RESEARCH REPORTStrategic Vanadium-battery growth with Titanium & Iron earnings resiliencyTNG Ltd is an ASX-listed technology owner and developer of the world-class Mount Peake near-surface vanadiferous titanomagnetite deposit. To unlock value, TNG will concentrate ore from its central Northern Territory mine for processing through its patented TIVAN® process produce three premium quality revenue streams: hi-purity vanadium pentoxide (V2O5) for steel alloys and Vanadium Redox Flow batteries, a quality titanium pigment for paints and a premium steel input with >64%Fe iron ore fines. |
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Promising exploration and development update while SOP prices continue to riseTwo recent gravity surveys have considerably exceeded expectations and revealed potential for extensions to the existing MRE at Lake Throssell, plus a material growth opportunity at Lake Yeo. This reinforces the potential for a multi-decade, Tier-1 SOP production hub based around Lake Throssell. TMG is currently completing work towards the PFS due early 2023, including drilling to start in Q3 2022, evaporation trials and permitting activities. Results from these programs will support the PFS and any future resource upgrade. Benchmark SOP prices have risen to ~US$940/t due to recent geopolitical developments. The Oct 2021 Scoping Study assumed a SOP price of US$550/t and contained a sensitivity analysis showing every 10% increase in price drives a +$144m increase in the project NPV of $364m. The c.70% increase above the Scoping Study thus implies a project NPV of ~$1.4bn. |
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DOWNLOAD RESEARCH REPORTIncreasing our TargetDespite the lower realised oil and gas price, which fell by 5.4% and 19.7% respectively in August, Calima managed to show improvement in its key business metrics. We expect higher production in November due to the contribution by the new Thorsby wells which will be drilled in August/September which will see Calima meet its 2021 production guidance of 4,500 boe/d. |
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DOWNLOAD RESEARCH REPORTEmerging Financial Wealth Advisory GroupWT Financial Group Limited (WTL) is a growing diversified financial services company, founded in 2010 and listed on the Australian Stock Exchange (ASX) in 2015. Its advice and product offerings are delivered primarily through a group of independent financial advisers operating as authorised representatives of WTL under its Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group) dealer group operations. It has around 275 advisers across more than 200 financial advice practices Australia-wide. It also operates a direct-to-consumer operation under its Spring Financial Group brand. |
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DOWNLOAD RESEARCH REPORTImmutep Taking the Fight to CancerIn May 2021, Corporate Connect analyst Marc Sinatra published a comprehensive research report on ASX-listed biotech Immutep Ltd (ASX: IMM). So impressed was he with IMM that Corporate Connect felt it imperative that a follow-up report be released placing a valuation on the company, because the market was not seeing the vast potential of eftilagimod alpha (efti). This follow-up report has been released today. Using comparables, after adding cash back to their EV estimate and dividing by the total number of issued shares, Corporate Connect now places the fair value of an Immutep share at $A2.20. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaPayGroup (PYG) delivers multi-country BPO services and cloud SaaS HCM solutions, assisting companies to manage employees in multiple, complex jurisdictions. The company has many growth opportunities, including new clients, new jurisdictions, new products, partner expansion, and new revenue sources. PYG’s scalable business model allows operating leverage and with savings from in-housing third party technology, support margin expansion. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaOpenLearning (OLL) is a higher education technology company that operates a scalable online learning platform through a software-as-a-service (SaaS) business model and provides a global marketplace of high quality courses for learners of all levels. Its primary customers are education providers based in Australia and South-East Asia (primarily Malaysia). OLL started operations in Australia in 2012 and expanded to Malaysia in 2015, Singapore in 2018, and recently also Indonesia. |
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