Mike, there was an article in the globe today that talked about a bit of a slow down in house sales, however instead of buying homes a large percentage of people will be renovating with something like 20%(cant recall the exact nbr but it was significant) spending $5K on remodeling. This is also mixed blessing, maybe some reduction in sales for homebuilding but increase in remodeling, however suspect bigger margins in remodeling.....
Yes GDL is cyclical, I dont think the cycle has peaked yet, time will tell, however I suspect we have a good year at least. Getting into the US could be good, although there is a long list of retailers who have been badly battered trying to break into the US, even well respected ones like CanTire, its a whole different game there.
Me I'm hanging in there for a while, the dividend is good and the P/Sr is very attractive, this company only has about 4M shares outstanding, looks cheap to me at $45M. Scott |
