Listened to the webinar this morning. General tone was upbeat with no particular headwinds apparent Some items...
Full year dividend likely to be about the same as this half year.
Some accelerated debt paydown may be considered if cashflow allows.
of the 20 planned new stores 4 or 5 of these will be nudelucy, which are proving profitable.
Management are pleased with web results and are putting effort into developing this. Noted that instore traffic has increased significantly as covid restrictions are lifted.
In my opinion the well run retail companies are doing well in both Australia and NZ. There is no reason to expect that Accent should not continue to profitably grow at a steady pace and I predict that SP will increase if current dividend levels are maintained. I'm overweight with AX1 so just holding at present but a 24c div on a SP of 2.50 is a fully franked return of 9.6% is very tempting!
AX1 Price at posting:
$2.28 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)