reports
- John Whitfield
Godfreys Group Update
​Our valuation was moderately affected by the recent announcement of a move to a majority franchise model which will eventually lead to ~60% of Godfreys total store network operating under franchises. Approximately 60 stores are in the pipeline and are expected to be converted from company-owned to franchise over the next 3 years as a response to reverse FY16’s operating failure. We expect sales and profitability to fall over the near to medium term as the company captures smaller retail mar...
- John Whitfield
Godfreys Group Initiation Report
​Godfreys Group is an Australian specialist floorcare and accessories retailer with a history dating back to 1931. The company has operations in both Australia and New Zealand spread across a network of 222 company-branded stores. Market perception of the company has been negative as of late due to management turnover and disappointing FY16 like-for-like sales growth. Our view is that Godfreys can resume their historic path, albeit, at a slower pace. Our adopted valuation of $1.82/sh represent...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.