Showing posts with label History of Hallenstein Glasson. Show all posts
Showing posts with label History of Hallenstein Glasson. Show all posts

Wednesday, April 15, 2020

Why Hallensteins has the Advantage over Everyone Else





Hallensteins Glassons - HLG.

You know it's a well run company - I'd say the best company of its type anywhere in Australasia.

It does not have any debt and has cash in the bank. Whatever challenge it faced up to in its over 140 years of existence it has overcome that. Covid 19 will be no different.

In the area it operates in one thing is clear. The weaker competition is falling - including the recent influx of overseas brands.

Once a couple of these have got the tail between their legs and scuppered, from this part of the world or entirely - they all hold far too much debt. Hallensteins will be there to mop up the peices AND have far less competition!!

So Hallensteins will be planning right now to change, just how much change is up to conjecture but they will probably change anyway. Their online store is just one feature. The only change down at Hallensteins HQ will the fact that Covid 19 is just another one of those changes of a long list they been through before. 

One thing I constantly am appalled about and that is the comparions made between the economic fallout  from Covid 19 and the Great Depression.  It is by no means as serious as the Great Depression and is not likely to be unless something goes horribly wrong - that whole Great Depression/Recession thing annoys me. We have got a long way to go before we stoop to the depths of depravity those poor souls had to suffer - So Hallensteins passed the Great Depression.

Hallensteins will come out of this - Covid19 - in the same way. The way they have come out of the rest of the calamities than have befallen them. With a new approach to doing business.

For without that new approach combined with the old fashioned attitude towards debt Hallensteins Glassons Group would be yesterdays toast.




Now im no expert at share prices. I just know a great company when i see one. This little puppy plumbed the depths of about $1.80c just a couple of weeks ago. Right now its up on hope - its doubled in price to about $3.60c - hope that things will get started again - soon.

You could buy today or take your chances and buy on the bad news. Because there is more bad news - none moreso than any other stock on the nzx.com - to come with this stock.

DYOR.

  

Hallenstein Glasson @ Share Investor


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Discuss HLG @ Share Investor Group 



Share Investor 2020

Thursday, June 17, 2010

The History Of: Hallenstein Glasson Holdings Ltd



Hallenstein Glasson Holdings Ltd [HLG.NZ] (minus the Glasson part) has certainly been part of my childhood and growing up everything from school uniforms to first serious "shirts and pants" were purchased at a Hallenstein store in the main street of Hastings, Heretaunga Street.

That history seems to have rubbed off on me somewhat and 40 or so years latter I own shares in the company my parents used to buy stuff from.

HLG is part of Kiwi culture and history and it is remarkable that through the years since its establishment by Bendix Hallenstein in Dunedin in the late 1800s and to this day, HLG remains part of the Kiwi lexicon.

A piece in Stuff.co.nz out this morning goes into a bit more detail about the history of HLG and is interesting reading for those interested in New Zealand retailing and the history of business in general:

His first store opened in the Octagon in 1876, accepting cash only and advertising a single garment at a wholesale price – about 25 per cent on cost. He also opened shops in Christchurch and Timaru later that year, and in Wellington and Oamaru the year after. Through 1878 and 1879 the business opened shops in Auckland, Napier, Ashburton, Wanganui, Invercargill, Nelson, New Plymouth and Thames.

By 1900 there were 34 Hallenstein shops nationwide – only four fewer than exist today.

In 1883, the company's 350 staff moved into a new purpose-built factory in Dunedin. Soon after, Mr Hallenstein seeded an employee fund from which the interest was used to pay for medicine for staff.

When the Rev Rutherford Waddell gave his sermon on "the sin of cheapness" and called for a royal commission, "at a big public meeting", according to the history of Hallensteins, "Bendix Hallenstein supported him, declaring his sympathy with the movement and stating that he and his partners would sooner give up manufacturing than carry it on at the starvation rates being offered by contractors". Read more here.

The ability of a retailer to develop itself out of the Otago gold rush and still exist in 2010 is no mean feat and just goes to show what a business can do when it offers good product to its customers and runs the back office as frugally and cunningly as HLG did and still does.


Hallenstein Glasson @ Share Investor


Hallenstein Guidance not indicative of wider retail recovery
Stock of the Week: Hallenstein Glasson
Hallenstein Glasson Australian expansion needs expert execution
Why did you buy that stock? [Hallenstein Glasson]

Discuss HLG @ Share Investor Group

Download HLG Company Reports
Download HLG Company History



c Share Investor 2010