Latest / Best of Business / Shane Solly: Harbour Asset Management spokesperson on the increase in retail spending at the end of 2024

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Shane Solly: Harbour Asset Management spokesperson on the increase in retail spending at the end of 2024 · Best of Business

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  Speaker 1: You're listening to a podcast from News Talks'd be follow
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  Speaker 2: Shaan Solly's here, Harbersset Management, Chaine.
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  Speaker 3: Good evening, Good Ay, Ryan, how you are?
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  Speaker 2: Yeah, very good? Thank you? Does these stronger data we
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  Speaker 2: got out today? This is the retail sales data up
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  Speaker 2: point nine percent for the December quarter. Is that a
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  Speaker 2: good Obviously it's a good sign. But is it good enough?
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  Speaker 3: Yeah? Look at face for you. It actually suggested a
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  Speaker 3: little bit of upside for the new economy. Retail sales
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  Speaker 3: quite sensitive to interest rates, so a bit of a
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  Speaker 3: lead for the economy. But we're going to be careful
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  Speaker 3: when we break it down. Some of this might be
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  Speaker 3: about retailers actually doing a bit of discount and cunning
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  Speaker 3: some prices to get stock out. And certainly it's alway
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  Speaker 3: some of the more sensitive pieces the recreational goods of
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  Speaker 3: electronics department stores, These are real sensitive to confidence and
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  Speaker 3: pricing bearer up and accommodation of food and beverages up.
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  Speaker 3: Maybe that's about tourism, so a little bit early, but
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  Speaker 3: you know, certainly it's helpful. It's just worried that it
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  Speaker 3: soon me bounce along the bottom.
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  Speaker 2: How bad is the spark situation.
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  Speaker 1: Yeah, look, we have.
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  Speaker 3: Yet to see the company come out with a strategy
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  Speaker 3: that really is convincing investors that they are found the bottom,
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  Speaker 3: that they're turning around. A little bit cyclical. It is
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  Speaker 3: about the economy. They are sensitive to you and I
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  Speaker 3: and our decisions to spend and what's happening with some
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  Speaker 3: of the government changes. But a little bit it's about
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  Speaker 3: what the company is doing. So we are looking forward
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  Speaker 3: to seeing a better strategy coming from the management team.
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  Speaker 3: There's an opportunity with data centers. But yeah, it's really
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  Speaker 3: about the company turning things around.
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  Speaker 2: The retirement village operated. This is ryme and healthcare. So
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  Speaker 2: they've announced this billion dollar capital right trying to get
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  Speaker 2: rid of some debt.
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  Speaker 3: Yeah, they're raising a billion dollars. Very much about getting
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  Speaker 3: debt level point where they can deal with a slower
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  Speaker 3: period of sales. It's harder for them to sell their
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  Speaker 3: retirement units. In the board, management said, look, we need
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  Speaker 3: to take the balance sheet risk away, reset the business transformer.
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  Speaker 3: I think you really importantly it's a big goal for
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  Speaker 3: investors to digest. It has knocked the market around today.
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  Speaker 3: We're seeing a New zeal market down one point on
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  Speaker 3: the back of this announcement and a couple of soft
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  Speaker 3: results from Chorus the cable communications provider and see on tune.
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  Speaker 3: But really for residents of Ryman, this should be seen
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  Speaker 3: as being a positive that does allow Ryman to complete
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  Speaker 3: some of the developments that current round away and continue
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  Speaker 3: to provide the service levels that residents expect. But yeah,
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  Speaker 3: a big hit on the day for the market.
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  Speaker 2: Yeah, absolutely sounds like its Shane, Thanks so much for that, Shane,
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  Speaker 2: Sally Harbor Asset Management with us on news Talk.
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