BMTC GROUP $16.30 - Toronto symbol GBT.A

BMTC GROUP $16.30 (Toronto symbol GBT.A; TSINetwork Rating: Extra Risk)(514-648-5757; No website; Shares outstanding: 45.1 million; Market cap: $733.3 million; Dividend yield: 1.5%) is one of Quebec’s biggest retailers of furniture, electronics and appliances, with 36 outlets. It mainly sells these products through its two affiliates: Brault & Martineau and Ameublements Tanguay.

In March 2012, BMTC introduced a new banner, Economax, which offers lower-priced products. The company rebranded four outlets that it had operated as Brault & Martineau liquidation centres.

In 2013, BMTC opened four more EconoMax stores. It added another, in Joliette, in March 2014, and an additional one, in LaSalle, on October 24, 2014. BMTC is now considering purchasing land in Drummondville for a new store that would open in late 2015.

In the three months ended September 30, 2014, BMTC’s sales rose 1.5%, to $190.2 million from $187.3 million a year earlier. The company earned $0.40 a share, up 17.6% from $0.34.

Even with the improved results, BMTC’s outlook is uncertain in a tough retail climate. Its new focus on its discount Economax stores could also squeeze its profit margins.

BMTC Group is still a hold.

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