@no3lzie
You can bet your house we are already in a recession, the real question is will it last 6 months or go all the way to Christmas.
On 25th Feb'20 just 6 weeks ago i sold some ADH for $2.52 because i became over weight. At that stage i had no idea how severe the Covid-19 induced sell off would be. Just got lucky. Last week i bought those same shares back at $0.89.
Adairs is one of my favourite mid scale retailers. Mainly because of its management team and board and that it has a successful and growing online program and has one of Australia's best loyalty programs. It generates great margins, has modest debt around 21% and generates a ROE of about 25%.
Adairs sales will be smashed in H2 Fy'20 but I am looking beyond that. In really rough economic times the best run companies survive and the weak fail. In my view Adairs will survive and ultimately be bigger and stronger. Already we have seen one competitor Harris Scarfe go to the wall; they won't be the last and Adairs will be there to pick up the pieces.
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