07/02/2025 16:42

Nick Scali (NCK) $18.00

(NCK) +10.5%: Delivered a decent half-year earnings report today with lower earnings versus the prior half but a beat on recently recut guidance. 

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21/10/2024 16:38

Nick Scali (NCK) $14.50

NCK -4.10%: Hit today on updated guidance, with margin pressure due to freight costs and softer sales in ANZ conspiring against 1H25 results, with profit guidance of $28m a good ~20% below current consensus.

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19/09/2024 09:18

Nick Scali Ltd (NCK) $16.03

While we wouldn’t chase strength in NCK above $16, it does look good for a breakout to new all-time highs – not a huge call now.  However, it is a volatile stock that has already corrected $3-4 three times over the last 18 months, i.e., it has a habit of rewarding patient investors with the opportunity to buy dips.

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13/08/2024 09:45

Nick Scali Ltd (NCK) $15.25

MM has liked NCK over the years and remains particularly keen on their foray into Europe via Fabb Furniture – a small spend to gain an established, albeit small 20-store foothold into the UK’s $24bn furniture market. One of the key aspects in CARs result yesterday was growth being achieved overseas;

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09/08/2024 17:13

Nick Scali (NCK) $14.84

NCK +0.13%: A choppy session today for NCK though cool heads prevailed by the close, shares finishing around par.

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26/07/2024 10:12

Emerging Companies Portfolio – Amendments

We are making several changes to the Emerging Companies Portfolio today, repositioning towards stocks we believe offer a better mix of quality and leverage to the themes we remain confident in

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23/07/2024 09:24

Nick Scali Ltd (NCK) $14.33

We have been fans of NCK over the years and are particularly keen on their foray into Europe via Fabb Furniture. We ponder if they plan to move Fabb more upmarket to match its domestic offering. We believe they have entered the $24bn UK furniture market in a prudent, conservative manner, which has allowed them to learn the nuances of this market without risking too much money.

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09/05/2024 17:01

Retailers under the pump today…

A tough day for the majority of discretionary retailers with JB Hi-Fi (JBH) -4.54%, Super Retail (SUL) -5.45%, Temple & Webster (TPW) -17.91%, Baby Bunting (BBN) -23.42%, Premier Investments (PMV) -3.42%, Harvey Norman (HVN) -3.84%, Lovisa (LOV) -0.93% and Nick Scali (NCK) -4.54% all getting sold off

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26/04/2024 09:22

Nick Scali Ltd (NCK) $14.07

NCK went into a trading halt on Wednesday as the company sought to raise $60m at $13.25, a 5.8% discount to its last trade, to fund its expansion plans into the UK. NCK is buying Fabb Furniture, which owns 21 stores and retail parks across the UK. We like this relatively cheap foray into the $24bn UK furniture business by a quality operator. The timing looks good with the UK furniture market struggling, and the deal is undoubtedly compelling, with NCK picking an established network for a nominal amount.

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07/02/2024 09:25

Nick Scali (NCK) $14.00

The furniture retailer closed at near 12-month highs yesterday on the back of a strong 1H report as retailers continue to defy the doom and gloom out there from an economic perspective. The much-talked-about spending cliff hasn’t eventuated, or at least not to the same degree as anticipated, and even the RBA has conceded their efforts to take some heat out of the economy are taking longer than expected.

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