Nick Scali (NCK) $10.51

UPDATED 05/02/2021 08:54

trade now

Nick Scali (NCK) -0.59%: Lots in the press today about NCK following a very strong result, and whether or not they should be paying back the $3.6m worth of wage subsidies they received from the Australian and NZ Governments in the half. When thinking about this, bear in mind that NCK paid $8m more in tax this half (totalled $17m) than the same time last year so there is an offset. Anyway, the result was a strong one from the furniture retailer with 1H sales of $171m up 24% YoY although they were coy about providing full year sales guidance. It’s clear that retailers have had a great period, what comes next is the key. We remain positive the retailers thinking more upside to come as the Australian economy remains well supported.