Mark Wade, Equity Analyst Email & Phone Number

Greater Sydney Area

Lead analyst on 15 small to mid-cap retail and travel stocks (ADH, AOV, AX1, BAP, BRG, CTD, FLT, HVN, JBH, LOV, NCK, PMV, SUL, WEB, WJL).Key Achievements to Date• Key reports: (i) in-depth look at the winners arising from COVID-19 ('Life After Lockdown'); (ii) opportunities and pitfalls in the ultimate re-opening trade involving travel agents ('Brave New World') and a follow-up on Flight Centre ('Bigger and Better'), which addressed the market's three concerns, in doing so… Show more Lead analyst on 15 small to mid-cap retail and travel stocks (ADH, AOV, AX1, BAP, BRG, CTD, FLT, HVN, JBH, LOV, NCK, PMV, SUL, WEB, WJL).Key Achievements to Date• Key reports: (i) in-depth look at the winners arising from COVID-19 ('Life After Lockdown'); (ii) opportunities and pitfalls in the ultimate re-opening trade involving travel agents ('Brave New World') and a follow-up on Flight Centre ('Bigger and Better'), which addressed the market's three concerns, in doing so highlighted tremendous upside 3x the street; and (iii) regular consumer sector updates, such as the 'Mr & Mrs Australia' survey series, which correctly identified the consumer's desire to continue spending right through the year, particularly in-store, and 'Staying alive' that concluded concerns of a nasty recession were probably overdone, contrary to fears at the time• Created nine new detailed financial models from scratch and refined an tenth• Worked harmoniously with research analysts, internal sales advisers and clients Show less

Sydney, Australia

Lead analyst on five consumer stocks (HVN, JBH, MYR, PMV, SUL) and co-lead on another dozen (A2M, BAL, BKL, CCL, COL, DMP, FLT, GNC, MTS, TWE, WES, WOW)Key Achievements• Co-authored around 300 independent research reports, notably: (i) fragile state of the macro-environment (in 'Uncharted Territory'), (ii) deep-dive into recycling to unearth Coca-Cola’s drinks portfolio ('One Man’s Trash is Another’s Treasure'), (iii) benchmarked Super Retail with 17 peers over 20 years revealed… Show more Lead analyst on five consumer stocks (HVN, JBH, MYR, PMV, SUL) and co-lead on another dozen (A2M, BAL, BKL, CCL, COL, DMP, FLT, GNC, MTS, TWE, WES, WOW)Key Achievements• Co-authored around 300 independent research reports, notably: (i) fragile state of the macro-environment (in 'Uncharted Territory'), (ii) deep-dive into recycling to unearth Coca-Cola’s drinks portfolio ('One Man’s Trash is Another’s Treasure'), (iii) benchmarked Super Retail with 17 peers over 20 years revealed margin upside ('Switching Gears'); (iv) correctly identified the beginning of Smiggle’s AU and UK struggles ('Smiggle Loses its Shine)', (v) outstanding concerns on Domino’s ('Doing the Splits'), (vi) negative view on all three China consumer stocks differentiated from the street by work on brand propositions in the context of customer lifecycles ('China Names in Focus'), and (vii) view of supermarket industry dynamics and international margins to conclude that Coles was cheap ('Hot in the Kitchen', 'Margin Tug-o-War')• Created five new detailed financial models from scratch and lifted standard of existing financial models Show less

Sydney

As a retail sector specialist, I conducted fundamental research on six companies under formal coverage (BBG, MTS, ORL, TRS, WES, WOW) and another 30 odd on an informal basis.Key Achievements• Developed a unique offering (industry knowledge and context; contrarian approach; longer term focus)• Established an early track record of making sound investment calls (Buy: Metcash, Reject Shop. Avoid/Sell: Godfreys, JB Hi-Fi, Premier Investments, Wesfarmers, Woolworths) •… Show more As a retail sector specialist, I conducted fundamental research on six companies under formal coverage (BBG, MTS, ORL, TRS, WES, WOW) and another 30 odd on an informal basis.Key Achievements• Developed a unique offering (industry knowledge and context; contrarian approach; longer term focus)• Established an early track record of making sound investment calls (Buy: Metcash, Reject Shop. Avoid/Sell: Godfreys, JB Hi-Fi, Premier Investments, Wesfarmers, Woolworths) • Highly productive, having published nearly 200 independent research reports• Regularly interacted with internal sales advisers, institutional clients, company management and industry contacts (more than 700 occasions) Show less

Sydney

Key Achievements• Led a team of two other analysts to generate a key weekly report highlighting the Supermarket division’s shelf prices against major competitors, originally across 13.5k SKUs• Engaged with buyers and external agency to expand comp checks by 25% additional SKUs, and improve accuracy of existing product matches• Supported management and buyers with their ad hoc pricing requests• Adapted a tool to identify $68M in over-priced and $93M in… Show more Key Achievements• Led a team of two other analysts to generate a key weekly report highlighting the Supermarket division’s shelf prices against major competitors, originally across 13.5k SKUs• Engaged with buyers and external agency to expand comp checks by 25% additional SKUs, and improve accuracy of existing product matches• Supported management and buyers with their ad hoc pricing requests• Adapted a tool to identify $68M in over-priced and $93M in under-priced SKUs Show less

Sydney

Key Achievements• Developed a fact base on Competitor Intelligence, shared across the Woolworths group, it enabled BIG W to critically compare its own performance with that of four closest peers (revealed it rated superior in some areas such as pace of store rollout, but not others such as store refurbishment activity, capex and return on capital)• Contributed key sections to a detailed strategy pack for GM of Merchandise on BIG W’s future direction (highlighted retail industry… Show more Key Achievements• Developed a fact base on Competitor Intelligence, shared across the Woolworths group, it enabled BIG W to critically compare its own performance with that of four closest peers (revealed it rated superior in some areas such as pace of store rollout, but not others such as store refurbishment activity, capex and return on capital)• Contributed key sections to a detailed strategy pack for GM of Merchandise on BIG W’s future direction (highlighted retail industry trends, opportunities and threats)• Under minimal supervision, identified & successfully negotiated improved trading terms from 120 Greenlife vendors (improved category gross profit by 15%)• Provided a high level of analytical support to aid effective vendor negotiations and develop joint business plans. For instance, worked closely with Menswear division to develop a comprehensive forecast of sales and gross profit across various scenarios (received $1M in vendor-funded advertising). Further, developed tools used by Buyers (vendor scorecard, joint business plan, tracker of COGS wins)• Identified $9M in cost harmonisation benefits, where BIG W’s final cost price was not aligned with Supermarkets on 1,800 of the 13,500 shared SKUs. Worked closely with Buyers to validate each, then to support with vendor negotiation• Together with Business Improvement, Finance and Store Operations, developed an improved end-of-season markdown process for surplus apparel (an alternative ‘percentage off’ proved both simpler to execute and more profitable) Show less

Sydney

Key Achievements• Developed a differentiated offering (longer term focus; scenario analysis; 15 site visits; Retail in Detail report). Clients responded well (tagged order flow of $275k; ranked in top third for East Coles Best Broker Survey)• Sound returns based on stock recommendations in a difficult market• Highly productive, having published 264 research reports (outlined stock specific views, sector trends and drivers of corporate profitability)• Established… Show more Key Achievements• Developed a differentiated offering (longer term focus; scenario analysis; 15 site visits; Retail in Detail report). Clients responded well (tagged order flow of $275k; ranked in top third for East Coles Best Broker Survey)• Sound returns based on stock recommendations in a difficult market• Highly productive, having published 264 research reports (outlined stock specific views, sector trends and drivers of corporate profitability)• Established an active record of engagement with institutional clients (463 occasions), company management & other industry participants (269 instances), and the media (107 citations)• Strengthened financial modelling and fundamental valuation techniques (as part of a robust investment process)• Associated with AACo’s $67m equity raising in May 2011 Show less

Sydney

Key Achievements• Conveyed stock ideas at regular portfolio meetings and in published reports• ‘Model’ stock portfolio achieved a sound performance (45% return in 7 months, or 7% points ahead of benchmark)• Generated favourable calls in prior 12 months during GFC (Buy -3.9%; Hold -10%; Sell -31%)• Scrutinised financials, conducted financial modelling and completed company valuations of ASX and international stocks (the basis for robust investment… Show more Key Achievements• Conveyed stock ideas at regular portfolio meetings and in published reports• ‘Model’ stock portfolio achieved a sound performance (45% return in 7 months, or 7% points ahead of benchmark)• Generated favourable calls in prior 12 months during GFC (Buy -3.9%; Hold -10%; Sell -31%)• Scrutinised financials, conducted financial modelling and completed company valuations of ASX and international stocks (the basis for robust investment decisions)• Attended numerous (713) company presentations or site tours (to uncover investment opportunities)• Frequently engaged with stockbroking analysts (186 occasions) • Regularly contributed material for inclusion in unit-holder reports• Incorporated ESG factors into investment research & decision-making practices Show less

Sydney

Key Achievements• Maintained complex financial models• Gathered and analysed both industry and company specific information (featured quantitative analysis to filter companies according to key financial ratios)• Attended various (78) company presentations (to delve into details)• Published reports on individual stocks and thematic research (e.g., listed investment options to harness the soft commodities boom; international banking sector review; critical… Show more Key Achievements• Maintained complex financial models• Gathered and analysed both industry and company specific information (featured quantitative analysis to filter companies according to key financial ratios)• Attended various (78) company presentations (to delve into details)• Published reports on individual stocks and thematic research (e.g., listed investment options to harness the soft commodities boom; international banking sector review; critical appraisal of blue chip securities; and possible buy-back candidates)• Proficient in IRESS and Microsoft Excel Show less

Brisbane

Christchurch Nz

Education record

Masters Of Applied Finance, High Achiever

Doctor Of Philosophy

Bachelor Of Applied Science, Honours 1