A Cyclical Turnaround Story ?

I think we have seen a clear bottom in MHI now, perhaps others might like to agree or disagree ?

It’s just a well run family business gone global, nothing exciting in retail sales really, but still there seems to be some quite good upside potential here now, perhaps some further ongoing growth on the horizon also.

-> Gross margins are at record highs and trending upward
-> The technical's seem to be forming a downtrend break and a flag
-> Input costs, commodities, gold, diamonds, silver are at decade lows
-> Labour and occupancy costs are stable, perhaps even trending down slightly
-> We are seeing good revenue growth in Canada
-> I’m sensing a forward pick up in New Zealand revenues, perhaps for Australia from here also
-> The Emma & Roe roll out is proving itself ok with 100% growth off a low base
-> Similarly for online sales, 195% growth albeit also off a low base

All to be balanced against exchange rate moves and consumer confidence, although if one uses google trends as an interpretable leading indicator, as I do, we may be seeing a good lead into the lucrative xmas season, or perhaps it’s a little early to be sure just yet ?

I’ve bought a few recently as a disclosure, for a medium term capital gain, although I couldn’t give a rats about a dividend to be honest if anyone were to ask, they're just not important to me.

Canada:
https://www.google.co.nz/trends/explore#q="michael hill"&geo=CA

New Zealand:
https://www.google.co.nz/trends/explore#q="michael hill"&geo=NZ

Emma & Roe: https://www.google.co.nz/trends/explore#q="emma and roe"&date=1/2004 142m&cmpt=date&tz=Etc/GMT-13

Australia:
https://www.google.co.nz/trends/explore#q="michael hill"&geo=AU