Ann: CEO Resignation and Q3 Trading Update, page-17

Hi the only thing holding me back was the huge rise in SP and it did look a little overbought. I wasn't planning on buying today, but the drop was too tempting and looked like an overreaction. I'm still doing my research on this one. It's obviously not a product I'm familiar with, other than seeing the stores in all my local shopping centres and having a young daughter obsessed with jewellery

Two things i like are the non-existent HC forum (300-400 monthly visits), and the lack of any shorts (thus far). The lack of HC interest is strange given the SP performance.

One poster mentioned a lack of competitive advantage, with all cheap jewellery the same and highly replaceable. This is true, so it comes down to execution and how on trend you are. The margins are huge as all the product is own brand. This given them control over design and new product flow. It makes them highly adaptive to trends in the marketplace. Execution seems to be good so far. Too many Aussie businesses (and big ones) fail with their international expansion plans. Risks are elevated i guess.