OrotonGroup on shaky ground

Until Friday, OrotonGroup—owner of the Oroton brand and licensee of the Ralph Lauren brand in Australia and New Zealand—was the very definition of ‘market darling’. Occasionally people were incredulous that Intelligent Investor didn’t cover this upmarket retailer. Well-managed, with a strong return on equity and high margins, the implication was that this was the sort of stock we should recommend. We seek out companies with these characteristics, of course. But price is all-important, and we judged that OrotonGroup’s share price was failing to take several major risks into account. The first was that the high margins were already reflected in...

Until Friday, OrotonGroup—owner of the Oroton brand and licensee of the Ralph Lauren brand in Australia and New Zealand—was the very definition of ‘market darling’. Occasionally people were incredulous that Intelligent Investor didn’t cover this upmarket retailer. Well-managed, with a strong return on equity and high margins, the implication was that this was the sort of stock we should recommend.

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