Great market update. 15% LFL sales excluding Vic and Aukland is very impressive. I expect that Vic will post good numbers coming into Christmas, and also judging by the activity in the city at the moment.
Excellent growth prospects as well with so many more stores set to open. Agree that the online footwear resale website could be another channel for targeting growth, especially when it's a website dedicated exclusively to this market. There's also promising sales in the less known brands which is good to see, and makes them less reliant on the likes of Nike and Adidas.
They have a good and proven recipe. IMO that should make it very attractive for institutional investors.
Was hoping for more guidance on Earnings and Profit, but the strong sales point towards another very safe interim dividend. Looking forward to seeing more results in the new year. In the meantime, there's not much that'll make me sell. The low weeks we had prove it's worth staying confident, although I sometimes don't understand why this share moves so much on some days.
DYOR.
AX1 Price at posting:
$1.90 Sentiment: Buy Disclosure: Held
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