Our investment proposition for the discount retailer comes down to price, price and price. The stock had been sold off after a November profit downgrade, but attracted an opportunistic bid.
Sells a range of goods such as food, snacks, gift cards and party, health and beauty aids, cleaning supplies, storage, kitchenware, homewares and seasonal items in 356 store locations across Australia.
In December 2019, the company announced Andre Reich as chief executive officer, effective from 13 January 2020. For the financial year ending 30 June 2020, The Reject Shop posted increased sales of over AUD$820m.
The interim dividend has been cut dramatically and no final dividend is likely.