US investor a.k.a Brands acquires stake in Culture King streetwear retailer in $600m deal.
That is a PE of 30!
Story in the Australian today. Bit late as this happened last year. But still an interesting read.
Unless GLB get hit by some supply chain issues I expect then to do approx $10 to $12 million after tax in the second half. It looks like products are selling out quickly on US websites but cannot tell if this is due to demand or supply issues.
Unless they need cash to continue to build up working capital then I expect at least a 15 cent final div fully franked.
Some softness in the SP at present but that is expected after the rapid run up.
US investor a.k.a Brands acquires stake in Culture King...
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