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Highlights
- Though initially suffering huge setbacks, the retail sector has bounced back with a strong online presence.
- Briscoe Group pays an impressive interim dividend, reveals a strong half-year performance.
- Kathmandu Holdings to hold its Annual Meeting on 23 November.
The retail industry has gone through a lot of ups and downs since the onset of the COVID-19 pandemic. Initially, it was adversely affected.
However, by laying more emphasis on technology and increasing marketing through digital channels, retailers have found new ways to improve their profitability and have seen a tremendous rise in their online sales.
That said, let us quickly explore the four NZX retail stocks worth watching this month.
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Briscoe Group Limited (NZX:BGP)
One of the country’s most loved retail groups is Briscoe Group Limited. Recently, it has released its half-year performance ended 1 August 2021.
Despite facing uncertainties due to lockdown restrictions, the Group achieved an NPAT of NZ$47.46 million and its total sales for the said period amounted to NZ$358.4 million, which is attributed to BGP’s improved supply-chain system and development of new revenue streams.
Related Read: A lens on 5 NZX retailers amid the prevailing lockdown
It paid an interim dividend of 11.50 cps in October to its shareholders.
Further, with proper strategic programmes underway, Briscoe is focused on delivering improved profits and returns to all its stakeholders.
On 4 November, at the time of writing, Briscoe Group was trading down by 0.29% at NZ$6.870.
Kathmandu Holdings Limited (NZX:KMD)
Kathmandu Holdings Limited is a specialty clothing and sports equipment retailer. The Company is planning to hold both physical as well as a virtual Annual Meeting on 23 November.
Interesting Read: Kathmandu (NZX:KMD): Which brands do the Company own?
However, in the event of the restriction of organising a physical meeting owing to the ongoing COVID-19 situation, it would conduct an online meet only, details of which would be communicated to the shareholders.
On 4 November, at the time of writing, Kathmandu Holdings decreased by 0.62% at NZ$1.600.
Michael Hill International Limited (NZX:MHJ)
NZ’s famous retail jewellery chain is Michael Hill International Limited. In its recently held Annual General Meeting, MHJ passed a resolution to re-elect Sir Michael Hill and Ms Emma Hill as directors of the Company.
Further, in the presentation, MHJ's MD emphasised margin expansion and sales growth, as well as further elevating the MHJ brand.
Do Read: Michael Hill (NZX:MHJ) How did it perform in the latest quarter?
On 4 November, at the time of writing, Michael Hill International remained unaltered at NZ$1.050.
The Warehouse Group Limited (NZX:WHS)
The Warehouse Group Limited is one of the largest retailing chains operating across Kiwiland. It has decided to hold a hybrid ASM on 26 November.
It would be offering both in-person as well as online meeting options for its shareholders.
On 4 November, at the time of writing, The Warehouse Group was trading up by 0.25% at NZ$3.98.
A Quick Read: WHS Reports Strong Sales Growth in Q3FY21A
Bottom Line
Though traditional and heavily focused brick-and-mortar retailers saw a significant slump in their profitability, retailers with a strong digital footing navigated easily amid the pandemic.