Nick Scali Downgraded by Jefferies as Headwinds Stiffen -- Market Talk

Dow Jones

05/22

2346 GMT - Jefferies downgrades furniture retailer Nick Scali to hold, from buy, as headwinds strengthen. Nick Scali is facing the impact on consumer behavior from three interest-rate rises in Australia so far this year. Now, it's also dealing with a federal budget that changes incentives to housing investment. Analyst Michael Simotas says an 8% cut to FY 2026 net profit forecast rises to 30% reductions in later years. These revisions reflect "operating deleverage in Australia, New Zealand and U.K. due to softening macroeconomic conditions and given Nick Scali's sales are strongly correlated to housing market." Jefferies now assumes Nick Scali breaks even in the U.K. in FY 2027. Its price target falls 44% to A$14.00/share. Nick Scali ended Thursday at A$13.69. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

May 21, 2026 19:46 ET (23:46 GMT)

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Now, it's also dealing with a federal budget that changes incentives to housing investment. Analyst Michael Simotas says an 8% cut to FY 2026 net profit forecast rises to 30% reductions in later years. These revisions reflect \"operating deleverage in Australia, New Zealand and U.<a href=\"https://laohu8.com/S/TKKD.SI\">K</a>. due to softening macroeconomic conditions and given Nick Scali's sales are strongly correlated to housing market.\" Jefferies now assumes Nick Scali breaks even in the U.K. in FY 2027. Its price target falls 44% to A$14.00/share. Nick Scali ended Thursday at A$13.69. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 21, 2026 19:46 ET (23:46 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nick Scali Downgraded by Jefferies as Headwinds Stiffen -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNick Scali Downgraded by Jefferies as Headwinds Stiffen -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-05-22 07:46</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     2346 GMT - Jefferies downgrades furniture retailer <a href=\"https://laohu8.com/S/NCKIF\">Nick Scali</a> to hold, from buy, as headwinds strengthen. <a href=\"https://laohu8.com/S/NCK.AU\">Nick Scali</a> is facing the impact on consumer behavior from three interest-rate rises in Australia so far this year. Now, it's also dealing with a federal budget that changes incentives to housing investment. Analyst Michael Simotas says an 8% cut to FY 2026 net profit forecast rises to 30% reductions in later years. These revisions reflect \"operating deleverage in Australia, New Zealand and U.<a href=\"https://laohu8.com/S/TKKD.SI\">K</a>. due to softening macroeconomic conditions and given Nick Scali's sales are strongly correlated to housing market.\" Jefferies now assumes Nick Scali breaks even in the U.K. in FY 2027. Its price target falls 44% to A$14.00/share. Nick Scali ended Thursday at A$13.69. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 21, 2026 19:46 ET (23:46 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"NCK.AU","symbol_name":"NICK SCALI LTD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2637822363","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2637822363","pubTimestamp":1779407160,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"2346 GMT - Jefferies downgrades furniture retailer Nick Scali to hold, from buy, as headwinds strengthen. Nick Scali is facing the impact on consumer behavior from three interest-rate rises in Australia so far this year. Now, it's also dealing with a federal budget that changes incentives to housing investment. Analyst Michael Simotas says an 8% cut to FY 2026 net profit forecast rises to 30% reductions in later years. These revisions reflect \"operating deleverage in Australia, New Zealand and U.K. due to softening macroeconomic conditions and given Nick Scali's sales are strongly correlated to housing market.\" Jefferies now assumes Nick Scali breaks even in the U.K. in FY 2027. Its price target falls 44% to A$14.00/share. Nick Scali ended Thursday at A$13.69. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"NCK.AU":"NICK SCALI LTD","BK7107":"家庭装饰零售"},"translate_title":"由于不利因素加剧，杰富瑞(Jefferies)下调尼克·斯卡利(Nick Scali)评级——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NCK.AU":0.9},"content_text":"2346 GMT - Jefferies downgrades furniture retailer Nick Scali to hold, from buy, as headwinds strengthen. Nick Scali is facing the impact on consumer behavior from three interest-rate rises in Australia so far this year. Now, it's also dealing with a federal budget that changes incentives to housing investment. Analyst Michael Simotas says an 8% cut to FY 2026 net profit forecast rises to 30% reductions in later years. These revisions reflect \"operating deleverage in Australia, New Zealand and U.K. due to softening macroeconomic conditions and given Nick Scali's sales are strongly correlated to housing market.\" Jefferies now assumes Nick Scali breaks even in the U.K. in FY 2027. Its price target falls 44% to A$14.00/share. Nick Scali ended Thursday at A$13.69. (david.winning@wsj.com; @dwinningWSJ) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 21, 2026 19:46 ET (23:46 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}