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Highlights
- Consumer discretionary items comprise non-essential goods and services like luxuries, entertainment, restaurants, etc.
- Metro Performance Glass to unveil its half-year performance in the fourth week of November.
- Sky Network Television passes a special resolution to amend its constitution.
Broadly speaking, consumer discretionary stocks, also known as consumer cyclicals, are referred to those companies’ supplying goods and services which are desirable but are non-essential in nature, such as entertainment, furniture, luxury items, durable goods, restaurants, etc.
Now, talking about non-cyclical stocks, these are essential goods and services that are always required by consumers like food, water, power, and gas, irrespective of price and economic trends.
An interesting fact which Stats NZ revealed in this regard is that owing to lower prices of fruits, vegetables, meat, and fish, food prices in New Zealand have reduced in October 2021 by 0.9% for the first time since February 2021.
While prices of most of the fruits and vegetables have fallen, tomato prices remain high.
Further, prices of non-alcoholic beverages also declined by 1.6% in October, mainly on account of reduced prices for 1.5 litre soft drinks.
Amid this background, let’s go through the latest developments of the most popular consumer discretionary stocks.
Image source: © 2021 Kalkine Media New Zealand Ltd, data source- EODHD/Others
Millennium & Copthorne Hotels New Zealand Limited (NZX:MCK)
Millennium & Copthorne Hotels New Zealand Limited is a famous hotel operator in New Zealand. MCK has disclosed the departure of its long-serving MD, BK Chiu.
Chiu, who joined the hotel group in 2005, would leave in July 2022. Meanwhile, MCK has commenced its search for a suitable candidate to be appointed for the said position.
At the time of writing, Millennium & Copthorne Hotels New Zealand was trading flat at NZ$2.380, on 12 November.
Related Read: Five NZX travel stocks to look at amid border closure and paused travel bubble
Metro Performance Glass Limited (NZX:MPG)
Metro Performance Glass Limited is a leading manufacturer and supplier of glass products across the country. It would publish its half-year FY22 results on 22 November.
Post announcement of the result, a briefing has been scheduled for analysts, shareholders as well as media.
Do Read: What has been last 6-month returns for 5 NZX penny stocks?
On 12 November, Metro Performance Glass climbed 1.22% at NZ$0.415, at the time of writing.
Burger Fuel Group Limited (NZX:BFG)
Burger Fuel Group Limited has been in the restaurant business for about 20 years. A few days ago, the Company has appointed Tyrone Foley as a Director, who was earlier working as BFG’s Chief Operating Officer.
Burger Fuel would greatly benefit from his wide-ranging skills and leadership expertise.
At the time of writing, Burger Fuel Group traded flat at NZ$0.370, on 12 November.
Related Read: Would these 5 NZX penny stocks take the market by storm in 2022?
Sky Network Television Limited (NZX:SKT)
The country's well-known media broadcasting company in Sky Network Television Limited. It has revealed that a special resolution had been passed by the shareholders to amend the Company’s constitution in its ASM held recently.
A Quick Read: What are Sky Network’s (NZX:SKT) FY22 guidance and targets to achieve?
A resolution was also carried out to authorise its Board to determine auditors’ expenses for the coming year.
Shares of Sky Network Television were trading flat at NZ$1.820, at the time of writing on 12 November.
Bottom Line
With a higher disposable income, consumers tend to spend more on non-essential items, while they tend to forgo these in a poor economy.