H20 (8242) Decent Quality Oversold Kansai Based Retail Name. BUY Here.

Director, Pearl Hill Advisors

Nicholas Tanner

Director

Pearl Hill Advisors

Equity Bottom-Up

<p>First quarter sales fell 1% to Y212.3bn but operating profit rose 20% to Y3.6bn. Whilst sales fell slightly short due to weaker than expected sales at Izumiya and Oasis, operating profit was much better (by Y1bn) than expected due to a much better performance at the department store operations. The full year operating profit was left unchanged at Y21bn (-7%) but it looks more than likely that this will be exceeded. Indeed Y25bn is possible. The only thing that could prevent this are costs…</p>

First quarter sales fell 1% to Y212.3bn but operating profit rose 20% to Y3.6bn. Whilst sales fell slightly short due to weaker than expected sales at Izumiya and Oasis, operating profit was much better (by Y1bn) than expected due to a much better performance at the department store operations. The full year operating profit was left unchanged at Y21bn (-7%) but it looks more than likely that this will be exceeded. Indeed Y25bn is possible. The only thing that could prevent this are costs…

H2O (8242) - Department Store Sales Finally Recovering

H2O Retailing

H2O (8242) - Department Store Sales Finally Recovering