re: Ann: COMPANY ANNOUNCEMENT - FULL YEAR RES...
Disappointing number of one-off write-downs and costs but lots of positive signs:
- All brands are showing strong double digit growth and the rate of growth is increasing
- New workwear brand, FXD, is looking like it will be a category killer. In a short space of time it has gone from ZERO to being stocked in over 150 shops nationally plus the online stores.
- New streetwear brands OBEY, Vision, Neff and Stussy all look to have a presence in many stores including high volume retailers like General Pants Co.
- Strong growth of the Globe brand in the US, Europe and Asia
- Full benefit of the A$ decline will be seen in FY14
Only negative is the ongoing underprfromance of Dwindle.
Seems like that have decided to get all the bad news out at this yearend so that they can report cleanly next year.
Also, interesting to compare their strong revenue growth from their brands but Billibong has seen a massive decline in revenue.
GLB Price at posting:
40.0¢ Sentiment: Buy Disclosure: Held
