KUALA LUMPUR: MR D.I.Y Group (M) Bhd has launched "MR D.I.Y. Raya Serba Baharu" campaign from April 1 to May 8 to enhance its customer festive celebrations.
The home improvement retailer said shoppers around the country can find more than 200 Hari Raya essentials at its selected stores nationwide.
The "MR D.I.Y. Raya Serba Baharu" range includes hanging ornaments, a myriad of decor items like wall stickers, pelita lamps for the more traditionally inclined, and LED lights for those looking for a modern twist.
"There are also home furnishings to give living and entertainment spaces an uplift, with new designs in cushions, floor mats, table runners, tissue boxes, prayer mats, and vases, as well as new types of tableware to enhance every meal.
"One of the main highlights is special offers on curtains and floor mats, with discounts of more than 30 per cent. Customers can purchase curtains for just RM21.90 and floor mats for just RM16.90," it said in a statement.
MR D.I.Y. group head of marketing Alex Goh said the company wanted to make it possible for everyone to make the most of Hari Raya this year.
This includes dressing up their homes to welcome visitors and enhancing the presentation of shared meals.
"In the spirit of 'MR D.I.Y. Raya Serba Baharu', we have curated a special lineup of festive essentials at 'Always Low Prices', making them accessible for the rakyat and reducing the burden on their wallets this festive season," Goh said.
In addition to its "MR D.I.Y Raya Serba Baharu" promotion, customers who spend a minimum of RM40 at MR D.I.Y., RM50 at MR TOY, or RM30 at MR DOLLAR stores nationwide will receive complimentary Duit Raya packets.
Customers can also purchase Raya-themed recyclable bags at MR D.I.Y., MR TOY, and MR DOLLAR stores across the country.
Market Cap:21,365 Million NOSH:6,284 Million Avg Volume (4 weeks):7,250,493 4 Weeks Range:3.37 - 3.79
Just ask a very simple question how many more stores can Mr. DIY increase in Malaysia and Brunei? What will be the revenue and profit grow prospect to justify a market cap of RM 21, 365 million?
KUALA LUMPUR (May 17): No analysts who track Mr DIY Group (M) Bhd have advised clients to sell the stock, although the home improvement retailer's latest quarterly earnings came in below some expectations.
Nonetheless, Mr DIY came under selling pressure on Tuesday. It fell 16 sen or 4.51% to RM3.39. Some attributed the selling to investors' reaction to the 19.5% drop in its net profit for the first quarter ended March 31, 2022 (1QFY22) to RM100.5 million from RM124.79 million a year ago, due to higher expenses as it opened more stores.
Quarterly revenue, however, climbed 4.02% to RM905.16 million from RM870.18 million a year ago, driven by contributions from new stores, the company said in a bourse filing.
It declared an interim single tier dividend of 0.7 sen per share (approximately RM44 million), representing a payout ratio of 43.8%, despite earnings contraction.
While analysts described the lower quarterly profit as an unexpected temporary blip or hiccup, they told investors to buy more shares simply because they foresaw better quarters ahead amid expectation of gradual recovery on profit margin.
Still, some quarters were surprised by the year-on-year drop in earnings given the low base effect.
HB Investment Bank analyst Soong Wei Siang maintained a "buy" call but with a slightly lower TP of RM4.50 from RM4.59 previously. Soong wrote that the two main factors dragging 1QFY22 performance are likely to dissipate in the upcoming quarters — considering the decline of Covid-19 infection rates and the end of the "Price Lock" campaign.
He said footfall is expected to normalise and the Aidilfitri festivities should further spur consumer spending whereas price adjustments are estimated to lift gross profit margin by two to three percentage points, according to management guidance.
Soong pointed out that higher minimum wage, effective May, will translate into higher wage costs, considering more than half of its 12,000 staff drew salaries below the new minimum wage.
"On the flipside, the resultant higher disposable income should also lead to higher consumer spending and the retail industry could well be one of the biggest beneficiaries.
"As such, the net impact on Mr DIY could be positive, taking into account its dominant market share in the home improvement retail industry," he said in a note.
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