WHS - Warehouse Group

[Rawz]

Despite the drop in revenue, the likely full year net profit from operations still seems rather healthy for a $440m market cap?

Thoughts?

(Not holding, but on watch list)

my thoughts are to stay away. danger, danger, red alert, beep, beep, beep, radioactive warning, woof woof

[whatsup]

Update even more dismal than I envisaged

Things seem to be getting worse quarter to quarter

Fancy blaming floods and Gabrielle …desperation

http://nzx-prod-s7fsd7f98s.s3-websit...882/418245.pdf

Now the fish heads at The Warehouse know how the Mums and Pops store owners felt through N Z when WHS moved into their town, DIE YOU MISERABLE BASTARD$.

[samjaynz]

Now the fish heads at The Warehouse know how the Mums and Pops store owners felt through N Z when WHS moved into their town, DIE YOU MISERABLE BASTARD$.

The circle of (business) life continues unabated, right?

The Warehouse killed off many small retailers, who couldn't keep up. Now the tired old lion of NZ retail has many hungry young challengers nipping at its heels - from the likes of Kmart with its vastly superior homebrand Anko range, to the likes of Aliexpress and Temu providing cheap plasticky garbage for even less.

The only thing I really do like about The Warehouse now is their homebrand coffee beans (apparently the reject Havana ones) which represent excellent value for money and taste good when freshly ground. But that's hardly the stuff that's going to resurrect the business.

Noel Leeming is a miserable place to shop owing to a very insipid range and typically poor deals (at least JB Hi Fi and PB Tech offer some more interesting products/choice when it comes to computers, headphones and other electrionics) and you can't so much as set foot in the stores where I live without being pounced on by multiple salespeople who I assume are desperate to make a sale to earn commission.

[Jay]

The circle of (business) life continues unabated, right?


Noel Leeming is a miserable place to shop owing to a very insipid range and typically poor deals (at least JB Hi Fi and PB Tech offer some more interesting products/choice when it comes to computers, headphones and other electrionics) and you can't so much as set foot in the stores where I live without being pounced on by multiple salespeople who I assume are desperate to make a sale to earn commission.

Either that or a lot of staff standing around talking, seemingly not interested in helping customers.
Mind you, when I go to a place like or Harvey Norman etc that I usually know what I want and are just going to buy it

[winner69]

Despite the drop in revenue, the likely full year net profit from operations still seems rather healthy for a $440m market cap?

Thoughts?

(Not holding, but on watch list)

Could do $50m npat from continuing operations …next year should be better

Só market cap $420 - does look tempting

[kiwikeith]

Could do $50m npat from continuing operations …next year should be better

Só market cap $420 - does look tempting

Problem is as unemployment rises and spending slows down the warehouse is in the firing line. The redsheds in Manawatu (feilding and palmy) are nowhere near as busy as they used to be.

[percy]

The big issue with a struggling retailer is their leases.

[nztx]

Wonder how badly Costco is eating The Warehouse's lunch ?

Be fairly large bites I imagine ..

[winner69]

The big issue with a struggling retailer is their leases.

WHS rents ~$120m a year and lease liability of ~$750m

[Balance]

Wonder how badly Costco is eating The Warehouse's lunch ?

Be fairly large bites I imagine ..

Costco is in a different league and in a different market segment altogether to Warehouse imo.

The competitors eating Warehouse's lunch are K-Mart, Temu, Panda Mart and soon to start in NZ, Ikea.

As for Noel Leeming, another disaster in the making.