It is going to be interesting how Oaktree tries to merge the companies. BBG went from $1.55 AUD to $1.75AUD since the news came out that Oaktree's deal was accepted.
BBG interim (6 month) results will be reported Feb 26. Remember, that means they will be released on the evening of the 25th in the US.
Not likely to declare a dividend any time soon. Aside from currency issues, the company is doing fine.
Almost all apparel stocks are getting hammered right now, not all for good reason. BBG has currency issues that it is fighting because their debt is in USD but their earnings are in AUD. US sales are improving which is a currency positive, but the Asian economic crisis has to hurt some too. The products are better than ever, especially the growing juniors sportswear segment. We sell the heck out of it.
I would add that the preponderance of ST offerings are outside the dairy case in the natural foods category. That is where the growth appears to be occurring.
In the dairy section, Kroger has a hard time reliably sourcing organic milk products. They tried to offer ST organic half & half, but finally gave up. The ST organic milk is often absent from the dairy case with a note saying they can't get it. Horizon products are always there. I'm sure ST is taking some share, but not the lion's share.
Where I live, not far from Cincinnati, KR's HQ, our Kroger cannot keep any Simple Truth in the case because they can't get any to stock. KR is unable to reliably source supplies of any organic dairy products except butter. They rarely have ST organic milk or 1/2&1/2.
GOLD COAST, 24 November 2015: Following the results of voting by poll at today's
Annual General Meeting where the shareholders of Billabong International Limited
(Billabong) approved the consolidation of all of its shares and options on issue through
the conversion of every 5 shares into 1 share and every 5 options into 1 option
(Consolidation), Billabong advises that the Consolidation will take effect for trading
purposes in accordance with the following timetable:
Key Event Date
Last day for trading in pre-consolidated securities 25 November 2015
Trading in the consolidated securities on a deferred settlement
basis commences under ASX code BBGDA
26 November 2015
Last day to register transfers on a pre-consolidation basis 30 November 2015
Registration of securities on a post-consolidation basis 1 December 2015
Despatch of new holding statements 1 December 2015
Deferred settlement trading ends 7 December 2015
Normal trading starts 8 December 2015
Sentiment: Strong Buy