28 Feb 2014
This week our commentary will unashamedly be focused on our local market, particularly given the importance of reporting season to many of us. In saying that a quick snap shot of the US market saw it push on higher to cap of the best monthly gain since October last year. Improving consumer sentiment and an expectation that the Fed will continue to support the economy more than offset any concerns around escalating Ukraine conflicts which have all the appearance of the 2008 war with Georgia. A few weeks back you might recall we mentioned Jos.A.Bank Clothiers and Mens Wearhouse over a scrap for outdoor clothing company Eddie Bauer. It would appear both companies had entered into merger discussions post this but a stalemate and an inability for Mens Wearhouse to acquire sent Clothiers price 3% higher. Given winter isnít that far away, some might be interested to know that the maker of Ugg boots, Deckors Outdoor, plummeted after posting a shocker of a result, smashed 12% on the back of its release. Undoubtedly a NZ winter or the recent influx of Auckland students to Dunedin might go some way to help; they are after all almost essential attire from what I can tell.