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Highlights
- The country’s retail sector was impacted by recent restrictions and lockdowns across NZ.
- Kathmandu Holdings appoints a new auditor, KPMG, for next year.
- Hallenstein Glasson Holdings to pay 24.0 cps as a dividend on 17 December.
According to the latest report of Stats NZ, the country’s construction and retail trade industries experienced the largest sales falls due to impacts of lockdown, for the September 2021 quarter.
The quarterly sales for the September 2021 quarter fell by 7%, i.e. a decline of NZ$2.0 billion, while the previous quarter experienced a decent rise of 4.2%.
Having said that, let us skim through the five popular NZX retailers.
Source: © 2021 Kalkine Media® data source- EODHD/Others
Kathmandu Holdings Limited (NZX:KMD; ASX:KMD)
New Zealand’s famous retailer for quality clothing and sports equipment is Kathmandu Holdings Limited. KMD has appointed KPMG as its new external auditor and has accepted the resignation of its previous auditor, PwC.
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The said changes have been made for FY22.
At the time of writing, on 10 December, Kathmandu Holdings dropped by 1.32% at NZ$1.49.
Briscoe Group Limited (NZX:BGP; ASX:BGP)
Briscoe Group Limited is a famous retailer of homeware and sporting goods. In its Q3 update for the quarter ended 31 October, the Group revealed that its total group sales increased by 9.52% at $496.9 million, underpinned by online sales which played an instrumental role in BGP’s strong sales performance.
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The Group is confident of achieving a solid trading performance and has forecasted an NPAT between NZ$73.2 million to NZ$85 million for the current financial year.
At the time of writing, on 10 December, Briscoe Group was up by 0.29% at NZ$6.82.
The Warehouse Group Limited (NZX:WHS)
The Warehouse Group Limited is a well-known retailer operating in Kiwiland. In its recently conducted ASM, resolutions were passed by its shareholders of the re-election of Antony Balfour, Rachel Taulelei, John Journee, and Will Easton as the directors of the Group.
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Also, the directors have been empowered to fix the remuneration PricewaterhouseCoopers, its statutory auditor for the forthcoming year.
At the time of writing, on 10 December, The Warehouse Group was down by 0.50% at NZ$3.950.
Hallenstein Glasson Holdings Limited (NZX:HLG)
A well-known retailer for menswear and womenswear is Hallenstein Glasson Holdings Limited. The Company has announced paying a final dividend of 24.0 cps on 17 December.
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HLG experienced a 21.9% increase in its overall sales for the year ended 1 August 2021, bolstered by prudent cost management, and managing optimum stock levels.
At the time of writing, on 10 December, Hallenstein Glasson Holdings declined by 0.42% at NZ$7.070.
Turners Automotive Group Limited (NZX:TRA)
Focusing on automotive retail is Turners Automotive Group Limited. In its recently released H22 results, the company delivered strong earnings growth despite facing COVID-19 lockdowns.
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Its revenue and NPAT grew by 13% and 26%, respectively, and amounted to NZ$166.8 million and NZ$16.9 million for the said period, underpinned by geographic and earnings diversification.
It has declared a Q2 dividend of 5.0 cps, payable on 27 January 2022.
Moreover, it has forecasted FY22 NPBT to be in the range of NZ$40 million and NZ$42 million and is focusing on a stronger performance in FY23 and FY24.
At the time of writing, on 10 December, Turners Automotive Group was trading flat at NZ$4.48.
Bottom Line
Being impacted by COVID-19-induced lockdowns initially, New Zealand’s retail sector is now looking optimistic with the ease of restrictions across the country.