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Stocks under the spotlight as Black Friday Approaches: LBY, CCX, WZR

  • November 26, 2020 08:35 PM AEDT
  • Hina Chowdhary
    Director, Equities Research Hina Chowdhary
    1376 Posts

    Hina Chowdhary is the Director, Equity Research at Kalkine and has an extensive experience of about 15 years in the area of Research, which includes 5+ years in Equities Research particularly.She has earned a Master of Science degree from the renowne...

Stocks under the spotlight as Black Friday Approaches: LBY, CCX, WZR


  • Investors anticipations on higher note as Black Friday approaches.
  • The start of the festival season is expected to bring cheer at the stock market.
  • Retail and technology sector are expecting for a sales boom from the annual Black Friday festival.
Gold MTF non-AMP

After facing one of the most challenging years on record with an economy in crisis, unemployment numbers piling up and industries suffering losses, Australia is all set to welcome the upcoming Black Friday season. 

Black Friday is that time of the year before the Thanksgiving holiday when one can find the best of the best sales on their favourite products. Originally a tradition from the United States, Black Friday, a shopping festival is now celebrated in many parts of the world including Australia.

A time off before Thanksgiving and a chance to save big bucks on early Christmas shopping, Black Friday gives a much-needed cheer not just to the industries in focus but also to the income-seeking investors. 

In this article, let us explore three exciting stocks which are under the investors' radar as the shopping festival approaches. 

Laybuy Holdings Ltd 

Kiwi buy now pay later (BNPL) provider Laybuy Holdings Ltd (ASX: LBY) came to the Australian Securities Exchange (ASX) in September with an IPO offer price of A$1.41. Its shares opened at A$2.00, and on its second day itself, the share price reached as high as A$2.06. Laybuy's payment platform offers its users to split payment for both online and offline purchases. The payment instalments can go up to six weeks. 

The BNPL player is dominant in the New Zealand market and expanded its reach in the highly competitive Australian and newly established UK market. The company has signed a prominent agreement with English Premier League (EPL) football clubs such as Manchester United, Manchester City and Arsenal in the United Kingdom. 

Its new product BNPL Mastercard which was recently introduced in Australia offers a unique and innovative option to buy goods and services in the store using Laybuy with a click on smartphones. 

Laybuy reported a revenue of NZ$13.3 million for H1 FY21, up from NZ$5.3 million recorded in H1 FY20. The company recorded a Gross Merchant Value of NZ$244.8 million, of which UK Region contributed almost NZ$106.2 million. The company recorded 298,000 active customers and 6,323 active merchants by the end of H1 FY21.

As on 26 November, LBY share price closed at A$1.380, with a market capitalisation of A$244.24 million.

 Good Read: Laybuy (ASX:LBY) shares charged up on ASX post half yearly results

City Chic Collective Ltd 

The City Chic Collective Ltd (ASX: CCX) share price saw trading under pressure after the retail company conducted its annual general meeting in November. A trading update was provided by the City Chic to the investors for the first 20 weeks of FY 2021. 

The company released comparable sales are up 18.7 per cent financial year to date, which excludes its temporary Victorian store closures. If the temporary store closures are included for the sales growth, it would have been 7.9 per cent. 

Its online business continues to grow strongly in the ANZ market. Its stores, excluding Victoria, also delivered positive comparable sales during the 20 weeks. City Chic website business was not performing well in the United States. Its performance continues to improve; however, it's still not at the same level as last year. Notably, for the City Chic brand in the United States, its product sales on the Avenue website are delivering growth. 

Another work in progress the company reported is in its gross margin. The company stated in the report that its gross margin had improved substantially since the COVID-19 induced disruption came to its peak. However, the gross margin is still lower than the corresponding period last year. 

As on 26 November, CCX share price closed at A$2.910, with a market capitalisation of A$659.8 million.

Also Read: Why was ASX 300 Consumer Discretionary Player City Chic Deep in Red Today?

Wisr Limited

Consumer lender Wisr Limited (ASX: WZR) is boasting another two months of record-breaking growth for Q2 FY21. The company said that its growth impulse continues smoothly in the 2021 financial year. Wisr released a mid-quarter business update on Wednesday, November 25, 2020, in which it informed the investors of issuing A$50 million new loans in less than two months. 

Notably, it intends on continuing the trend of delivering consistent quarter-on-quarter, which is visible since 2018. Australia's first neo-lender has now reached A$356.7 million in cumulative total loan originations in the two months of Q2 FY21. Wisr CEO Anthony Nantes commented on the news that it has been an incredible start of the period and the company intends on continuing delivering its record of flawless quarter-on-quarter growth. 

As on 26 November, WZR share price closed at A$0.215, with a market capitalisation of A$240.96 million.

Interesting Read: Wisr Stock Price Under Discussion: Future of Financial Products



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