Morgans Blog | Morgans

REA Group (ASX:REA) – Locking down the real estate market

08 September 2020, 3:21 PM

Given a severely impeded spring selling season in Victoria, 1H'21 is likely to be significantly weaker than expected. We believe the majority of these deferred listings will be captured in 2H, hence FY21 impact will be more muted.

Domino's Pizza: Set up to deliver

By Josephine (Jo) Little

20 August 2020, 5:11 PM

A solid result in challenging conditions. We maintain a HOLD with a revised price target.

Coles Group: The cost of doing essential business

By Alex Lu

20 August 2020, 8:52 AM

Coles Group's (ASX:COL) FY20 result (pre-AASB16) overall was slightly above our expectations. Supermarkets EBIT rose 11% (+2% vs Morgans), Liquor EBIT was flat (+5% vs Morgans) and Express EBIT fell to -A$16m (Morgans -A$22m).

JB Hi-Fi: Demand will normalise but perhaps not off a cliff

By Josephine (Jo) Little

19 August 2020, 2:40 PM

JB Hi-Fi's (ASX:JBH) result was in-line with sales/earnings guidance provided in mid-June, delivering very strong growth (2H NPAT +77% yoy). While no FY21 guidance was provided, July trading has accelerated further with JB Aust/TGG LFL sales >40%.

Super Retail Group – Supportive backdrop should play out for a while yet

By Josephine (Jo) Little

04 August 2020, 5:00 PM

We think the recent tailwinds supporting Super Retail Group's (ASX:SUL) sales can continue over the next 12 months, providing a highly supportive sales/earnings backdrop for the group.

Woolworths: Investing in the long term supply chain

By Alex Lu

25 June 2020, 7:50 AM

WOW has announced plans to develop two automated distribution centres at Moorebank, NSW for an investment of A$700-780m over four years.

Podcast: Beacon Lighting (ASX: BLX), Josephine Little, Senior Analyst

By Josephine (Jo) Little

19 June 2020, 9:24 AM

In this podcast, I discusses a positive trading update by Beacon Lighting (ASX: BLX), as the DIY and home improvement trend continues in Australia.

Super Retail Group: Unscathed, debt sorted and supportive backdrop

By Josephine (Jo) Little

16 June 2020, 10:15 AM

Super Retail Group (ASX: SUL) escaped the COVID-19 pandemic reasonably unscathed, with LFL sales growth -1.7% over April/May despite SCA and Macpac NZ store closures. We think any business that can trade through this global event relatively unscathed will attract a higher multiple in its wake.