EPISODE 171 - NICK GORDON & TONY WILSON
Nick Gordon is joined by Tony Wilson this morning to discuss the David Jones first half financial result. The discussion centres around the need for sales to continue to grow bottom line profit. The reduction in costs over the period, shows how flexible the David Jones cost base is, giving them the ability to reduce labour costs(part timers) and reduce advertising spending. On fundamentals the stock is trading on 13x earnings and a dividend yield of 7.1%. We remain positive on the stock and comfortable to add to positions below $4.50.
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