Full HY report out this week, one thing I missed in the earlier update that was interesting to read was $HLG.NZX comments around their online sales - basically halved since the end of lockdowns. (Overall sales up very strongly). Customers still prefer B&M for clothing, despite all the hype about online marketing.
Price has recovered strongly back to mid $6 from low $5 range, I am reminded that its much easier to hold great businesses through cycles without worrying about capital security. Although HLG ended up a lot cheaper than I paid, I was unconcerned as I believed it would be fine and once retail bounced back it would be a stong benificiary.
