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5i Report

Review of Leon's Furniture Ltd.

APR 29, 2019 - Furniture, electronics and mattress retailer has paid off well over half of the debt load and is now sitting close at a net cash position. LNF has the financial flexibility at this stage to generate shareholder value. Rating maintained at B.

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5i Recent Questions

Q: Hello 5i,
As a pensioner who requires dividends for my income, I have been looking at the above names to potentially add over the next year or so. It is my belief (uneducated guess) that it might take that long before we see any solid bottom and subsequent recovery begin.
In that vein, out of the above, how would you rank these based on the following:
1. Safety of company through a one year to 16 month recession.
2. Safety of the dividend through this same period.
3. Confidence in management team
4. Sector vulnerability
5. Value at current levels
6. Any other considerations, warnings or caveats for any of these ??
i.e. some of these have a decent 5i rating (B or higher), but the rating dates back to 2019, some as early as the summer.
And, finally, are there any suggestions you might have that are not on this list that deserve serious consideration in place of any of the above?
I am in no rush for an answer so take as long as you need to consider this question and deduct as many credits as you see fit - I should have enough to cover it. I hope that this question might also prove beneficial to other 5i members who rely on dividends for income.
All the best to everyone in this very trying and uncertain time!!! Be safe above all!!
Thanks to all at 5i!!

Read Answer Asked by Mike on March 23, 2020

Q: Even though LNF had a good last quarter, I am having a hard time understanding why Leon's is holding up as well as it is. When you build a house or do major reno's, you need to buy or upgrade your furniture. However, if the economy and specifically the housing industry are slowing down (as they are now), your need for furniture should follow suit. Shouldn't Leon's stock price follow suit and drop off more? I must be missing something. Thanks for your help...Steve

Read Answer Asked by Stephen on March 21, 2020

Q: Hi, I'm a retired, dividend-income investor. I took some profits and losses (to wipe out potential capital gains) over the last 5 weeks and am now planning on reinvesting the cash to top up some of my existing equities, up to my desired asset allocation. I want to leg in, in probably 3 waves over the next couple (?) of months, to top up ZWC, AD, AQN, AW, BNS, BCE, LNF, NWC, RY, TRP, WSP.

Can you please indicate which of the above equities you would allocate into which wave (in other words, does it look like the equity is "ready" for an investment OR should I continue to wait for a while)...or not at all (not worth any further investment).

Thanks for your help...Steve

Read Answer Asked by Stephen on March 18, 2020
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