AUS
NZ
UK
CA
USA
IND
Highlights
- New Zealand witnesses an increased current account deficit for the September 2021 quarter
- Hallenstein Glasson Holdings to hold its AGM on 21 December both physically as well as virtually
- Briscoe Group experienced solid Q3 sales, bolstered by improved online sales
The latest report of Stats NZ has revealed the broadening of the country’s current account deficit to NZ$4.8 billion, owing to a rise in imports, for the quarter ended September 2021.
In the said quarter, NZ’s current account deficit grew by NZ$1.7 billion when compared to the June 2021 quarter.
While imports of crude oil, fertilisers, and vaccines were the major contributors to the overall jump in imports in the September quarter, exports particularly, meat and wine, were offset by a decline in the export of logs.
Also, it was noted that the value of exports rose slowly as compared to the value of imports, which climbed rapidly.
Hence, amid the given backdrop, let us now look at the five NZX-listed retail stocks.
Source: © 2021 Kalkine Media® data source- EODHD/Others
The Warehouse Group Limited (NZX:WHS)
The Warehouse Group Limited had recently organised its ASM. Its shareholders carried out resolutions for the re-election of its four directors.
Must Read: The Warehouse Group (NZX:WHS) provides sales update for Q1 FY22
Further, the directors of the Group have been empowered to determine the remuneration of PricewaterhouseCoopers, its auditor for the upcoming year.
On 16 December, at the time of writing, The Warehouse Group was up by 2% at NZ$4.080.
Hallenstein Glasson Holdings Limited (NZX:HLG)
Hallenstein Glasson Holdings Limited is a leading retailer of men and womenswear in Kiwi land. Yesterday, the Group announced to conduct a hybrid Annual General Meeting on 21 December, i.e., its AGM would be held both physically at Christchurch as well as online.
Related Read: How are these 2 NZX retail stocks gearing up for Christmas?
Those shareholders who are going to attend the meeting must provide proof of being doubly jabbed through the My Vaccine Pass QR code.
Also, since Christchurch is under an orange setting, face masks are not mandated but are recommended.
On 16 December, at the time of writing, Hallenstein Glasson Holdings declined by 0.28% at NZ$7.080.
Briscoe Group Limited (NZX:BGP)
Briscoe Group Limited, the renowned dealer of homeware and sporting goods, has recently provided a solid Q3 sales update for the quarter ended 31 October 2021.
Do Read: Can these 5 NZX growth stocks be explored ahead of 2022?
Underpinned by robust online sales, the Group's total sales grew by 9.52% to $496.9 million, wherein its Homeware sales rose by 9.53% and Sporting goods sales climbed by 9.50%.
BGP is hopeful of achieving an NPAT between NZ$73.2 million to NZ$85 million for the full year.
On 16 December, at the time of writing, Briscoe Group fell by 0.58% at NZ$6.850.
Kathmandu Holdings Limited (NZX:KMD)
Known for making quality clothing and sports and travel equipment, Kathmandu Holdings Limited has earlier this month announced appointing a new external auditor, KPMG, for the upcoming year.
A Quick Read: Kathmandu (NZX:KMD): Its online sales soars amid pandemic in Q1 FY22
It is pointed out that its previous statutory auditor, PwC, has resigned from the post, and KMD has thanked the former for its services during its tenure.
On 16 December, at the time of writing, Kathmandu Holdings dipped by 1.32% at NZ$1.490.
Turners Automotive Group Limited (NZX:TRA)
Well-known for offering automotive retail is Turners Automotive Group Limited. Despite the pandemic, the Group delivered an impressive HY22 performance with a 13% increase in its revenue.
Related Read: Which 5 NZX dividend stocks under NZ$5 to consider in 2022?
Its NPAT grew by 26% to NZ$16.9m, majorly on account of geographic diversification and better than expected consumer demand during the recent lockdowns.
On 27 January, next year, the Group will distribute 5.0 cps as an interim dividend.
TRA expects FY22 NPBT to be in the range of NZ$40 million- NZ$42 million.
On 16 December, at the time of writing, Turners Automotive Group was up by 0.46% at NZ$4.40.
Bottom Line
NZ retail stocks are looking optimistic as the nation has moved to new traffic light settings, anticipating improved sales and revenue.