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NCK, NICK SCALI LIMITED
blacksheep
post Posted: Oct 15 2019, 06:37 PM
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In Reply To: nipper's post @ Oct 15 2019, 06:21 PM

Should have raised a red flag, along with the prior "difficult trading conditions" noted back in August. I was surprised there were only 1.58% shorts



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
nipper
post Posted: Oct 15 2019, 06:21 PM
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In Reply To: blacksheep's post @ Oct 15 2019, 06:17 PM

I liked the report that the supplier had sold down just prior.. that would be someone with a finger on the pulse!

QUOTE
Nick Scali flagged a flat FY20 outlook all the way back on August 8. But you'd have to wonder if KUKA, the company's long-term manufacturer, but then also the company's largest shareholder, had a better read than most on how significantly Nick Scali's trading conditions had deteriorated.

In early September, UBS helped the Shanghai-based KUKA block-trade out of the ASX-listed retailer. KUKA accepted $6.85 a share for the 13 per cent stake it had paid Anthony Scali $7 a pop for only 20 months earlier.
AFR



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

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blacksheep
post Posted: Oct 15 2019, 06:17 PM
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More evidence retail is struggling. SP down 13.75% - finished the day @ $6.21/share. Total short positions as at 9/10/19 = 1.58% https://www.shortman.com.au/stock?q=nck

QUOTE
15 October 2019
Trading Update
Nick Scali Limited (ASX:NCK) wishes to advise that the difficult trading conditions that the
Company referred to in its announcement on the 8th August 2019 have continued into the
first three months of the current financial year, with a similar pattern evident so far in
October.


Monthly store traffic has been down 10–15% in this period and has had a significant impact
on like-for-like store sales, which are currently down 8% YTD compared with the previous
year. The Company believes this is linked to lower general retail demand associated with
the recent slowing in housing sales and renovations and a cautious consumer attitude.
With lower interest rates and signs of improvement in the number of housing transactions
recently, Nick Scali believes this may translate to a lift in sales in the second half.

As a result of these trading conditions, the Company currently expects that NPAT for the
half-year ending 31 December 2019 will be in the range of $17m-$19m, compared to $25m
for the corresponding period in FY19.


Despite the softer trading conditions, Nick Scali continues to generate positive cashflows,
maintains a strong balance sheet, and is continuing to expand its store network, which is a
major contributor to long term growth in sales and profit. The Company will also continue
to review and evaluate any potential growth opportunities that might arise.

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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
mcart117
post Posted: Feb 19 2013, 11:36 AM
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In Reply To: Cojo's post @ Mar 30 2011, 09:18 PM

Just sold out at 210, accepting the bid for speed. I've been wanting to get rid of them for ages. Bought at 77 in 2008, so acceptable return for the period, and they have been paying divs.

 
Cojo
post Posted: Mar 30 2011, 09:18 PM
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In Reply To: topic-starter's post @ Jun 22 2004, 05:48 PM

Anyone holding this stock?

I have an indirect position and took it after reviewing the financials. The company pushes out a superb ROE, no debt and is positioned in a potential growth market due to the need for many a home owner/occupier to replace furniture after the savage weather conditions across Australia this last 12 months or so.

Keen on others thoughts on this one.

Dave



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topic-starter
post Posted: Jun 22 2004, 05:48 PM
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NCK
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