Forum Archive Index - September 2000

["Ben Dutton" <bendutton@sharechat.co.nz>]

Hi Day Trader,

In light of the recent talk on RBD, I think a Q&A might be a good idea.

I'll see what I can arrange.

Best Regards

Benjamin Dutton

----- Original Message -----
From: "Day Trader" <daytrader105@hotmail.com>
To: <sharechat@sharechat.co.nz>
Sent: Sunday, September 03, 2000 7:33 PM
Subject: [sharechat] RBD


> RBD certainly does seem to be undervalued and I would suggest that this
will
> be the case for a long while. Of course the market will have its ups and
> downs but recent trend lines suggest that this share is trading well below
> par. I recall that at the last AGM that both CEO and Chairman tried to
> explain the undervaluation of the share price. I even recall something
about
> a bonus for their key staff if they acheived a suitable increase in
returns
> for their shareholders in terms of share price.
>
> The shareprice in my opinion will remain undervalued for the following
> reasons:
>
> The annual same shop sales is only increasing due to the fact that
Starbucks
> is expeiencing high and growing sales. This concerns me after their
unusual
> change in prices which would lead me to believe that they had their
pricing
> structure wrong in the first place.
>
> The fact that Starbucks has lost more than 80% of the management team
(incl
> store managers that started in the first 15 months of the brand coming to
> NZ.)
>
> The resignation of the Starbucks general manager, and the Pizza Hut
general
> manger both within the last 6 months.
>
> The fact that many of the KFCs are financially supporting the unprofitable
> Starbucks and Pizza Huts.
>
> The fact that Pizza Hut is now purchasing back market share that it lost
to
> a better operator.
>
> I for one would like to hear CEO of Restaurant Brands answer a few of
these
> questions. Ben, what do you think?
>
>
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