Given that most retailers are struggling with pricing due to AUD...

Given that most retailers are struggling with pricing due to AUD falls I see it as an unrecognised positive for sfh that they hedged @ 75 us.
This was seen as a negative during last reporting due to the fact that the AUD was @ 90+ cents.
Now that the AUD is decidedly weaker they look like geniuses having hedging at a realistic AUD level. This will be giving them a decided advantage with their margins.
Also retail sales were more bouyant over xmas than predicted, so we can assume that their turnover will be pretty descent as well (or just not disastrous)

I think we can all agree that the current sp is indicating a massive fall in profitability. In other words i think the bad news is pretty well priced in.