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Highlights
- Stats NZ statistics revealed on Thursday that NZ reported a trade deficit of $6.3 billion in the September quarter.
- Michael Hill posted strong same store sales growth and increased its margins in FY21.
- The Warehouse Group delivered record results in FY21.
Latest statistics from Stats NZ have revealed that trade goods values for exports dropped $2.7 billion to $14 billion in the September quarter. However, goods values for imports increased by $3.2 billion to $19 billion.
New Zealand recorded a trade deficit of $6.3 billion in the September quarter. The increase in imported goods value propelled the trade deficit. Increasing import values can be credited to augmented import volumes in the majority of the cases, as witnessed for electrical and non-electrical machinery.
Let’s skim through how these 3 NZX retail stocks are doing.
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Michael Hill International Limited (NZX: MHJ, ASX:MHJ)
Michael Hill reported strong same store sales in all markets, a surge in digital sales, costs control and an increase in margin expansion for the 13-week period ended 26 September 2021.
There were no store openings or shutdowns and the network stayed at 285 stores during the quarter. MHJ paid a final dividend of A$3 cps, taking the total payout to A$4.5cps for FY21.
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On 3 December, MHJ ended the trading session at $1.18, down 0.84% from its previous close.
The Warehouse Group Limited (NZX:WHS)
The Warehouse Group posted record results despite the COVID-19 pandemic continuing to cause disruption and uncertainty to NZ and the world in FY21. Group sales and gross profit margin rose 7.6% and 36.4% in the period. The reopening of stores in November witnessed a substantial rise in trading and cashflow.
DO READ: How are 5 NZX retail stocks doing amid sharp rise in imports?
WHS paid a final dividend of 17.5 cps and paid it on 3 December.
On 3 December, WHS ended the trading session flat at $3.95.
Turners Automotive Group Limited (NZX:TRA)
Turners Automotive reported strong earnings growth in HY22 even after COVID-19 lockdowns in Q2. TRA’s geographical and earnings variation have emphasised a 24% increase in NPBT i.e. net profit before tax, while also contributing to a strong and viable yield.
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TRA expects an imputed dividend of 22cps based on a full-year profit before tax of $40 million.
On 3 December, TRA ended the trading session at $4.44, up 1.6% from the previous close.
Bottom Line
NZ retailers are likely to get more customer visits as restrictions ease. However, supply chain challenges and uncertainty concerns are likely to persist for some time.
(NOTE: Currency is reported in NZ Dollar unless stated otherwise)