![]() Temple & Webster's shares have risen more than five-fold since March and the stock is trading on a multiple of around 59 times forecast 2021 earnings per share of 13.9¢ and 58 times forecast EBITDA. ![]() However, if the shift to online shopping continues at a similar pace these estimates could be conservative.Ĭatch could be worth more than $1.2 billion if it were valued on the same basis as online homewares retailer Temple & Webster. Mr Cousins expects Catch's GTV to increase 18 per cent this year to $828 million and by at least 10 per cent to $910 million in 2022. In a trading update last month, Wesfarmers indicated Catch generated $500 million in gross transactions for the period of ownership (from August 2019 to the end of May 2020). In its first-half accounts, Wesfarmers reported Catch's sales and GTV growth but not earnings. The online retailer is part of Wesfarmers' department store division, which includes Kmart and Target. JPMorgan's 25 per cent discount for Catch reflected the lack of disclosure about the business in Wesfarmers' accounts. The multiple is a 25 per cent discount to, which is worth $1.74 billion and trades on a multiple of 2.4 times 2020 GTV, 2.0 times forecast 2021 GTV and 52 times earnings per share. He expects Catch to generate gross transaction value of $700 million this calendar year, up from $486 million in 2019, and has valued the group at 1.8 times GTV. He estimated gross transaction values rose 69 per cent in the June half after growing 21.4 per cent in the December half. Mr Cousins said Catch, which operates an online marketplace and sells goods on a first-party basis, had benefited from the accelerating shift towards online shopping during the pandemic. In a report this week, JPMorgan analyst Shaun Cousins valued Catch, which sells more than 2 million products online, at $1.23 billion.Ĭatch Group managing director Peter Sauerborn (r) and Kmart Group boss Ian Bailey. Your canvas print will come rolled with a roughly 50mm white border to allow you to have it stretched or mounted however you wish.Wesfarmers' Bunnings and Officeworks businesses have gone from strength to strength during the pandemic, but the conglomerate's most recent acquisition, Catch Group, is proving to be the biggest beneficiary of changes in shopping habits.Īnalysts and fund managers believe Catch Group, acquired by Wesfarmers in June last year for $230 million, may now be worth between $1 billion and $1.5 billion, based on valuations of similar pure-play online retailers and Temple & Webster. We use a very high quality 340gsm artistic matte canvas. CanvasĮverything looks better on canvas! Something about the texture really makes prints look wonderful. Your print will be fully encapsulated (so laminated on both sides) in durable 80 micron laminate and will last you a lot longer than plain paper. Matte can be drawn on with pencil (and erased), but is harder to clean if you use markers. I wouldn’t say it dulls colours, but it doesn’t make them ‘pop’ (I hate that I just used that word) in the way that gloss does. Matte laminate has a smooth, non-reflective, very classy looking surface. ![]() If you’re planning on using a marker of any sort, this is a better choice because it’s easier to clean. Gloss laminate makes colours look more vibrant and stand out more, but is quite shiny (reflective).
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