what a shocker, there tv ads gave it away for me got me nervous, cant believe how lucky i was to sell out yesterday
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what a shocker, there tv ads gave it away for me got me nervous, cant believe how lucky i was to sell out yesterday
Seems a bit of a trend here
H113 was $53m and then $46m in h114 and now this $37m
They did say at the AGM ho headwinds will be factored into the forecast just yet ....obviously no tailwinds either
Online sales going well so that's good eh
Also take heart that H2 NPAT is 'expected' to be 50% up on last year (to get to last years NPAT (before tailwinds and headwinds)
Shareprice recovering, that's good
The rise and rise of online shopping and there's no stopping the trend. Why bother to fight the trend an invest in a really tired brand with questionable management ?
I've said it before, this brand is really tired, people want fresh and interesting stuff, preferably online. I will confess I went in to my local store just after New Year. What summer stock was left in terms of mens shorts was in a shambolic state, really much of the menswear department was a complete shambles to be honest. I managed to find one pair of shorts in a colour I didn't like and forked out $20 simply because I was in a hurry and couldn't be bothered going to another store. It was only the second time I'd visited a WHS store in the last 12 months and frankly I see no reason to make a return trip anytime soon as my previous trip was also a disappointing experience. (Didn't have the cell phone specials in stock they'd advertised, no staff that had any product knowledge or seemed to even remotely take any interest in finding out when new stock would arrive). My thoughts after two visits.... Life is short, why bother visiting this down-market substandard glorified garage ? I am certain I am not the only customer totally underwhelmed by the WHS shopping "experience".
Roger started this rave What summer stock was left in terms of mens shorts was in a shambolic state, really much of the menswear department was a complete shambles to be honest ...
But couldn't bring himself glossy the whole store was a complete shambles .....and to be honest the whole business is a complete shambles.
Well said Roger
When did Mr Powell start?
Mark started as CEO in May 2011, the same day Ted took over as Chairman
Share price was 365 at that time so he hasn't destroyed too much shareholder value has he.
Dividends of 70 cents more than offset that small decline in shareprice eh Birman
Just setting it up for boom times.
Shareprice back to 300 by end of day methinks
4 years with next to no capital growth and declining sales figures annually in a time where our economy is booming screams to me management is the issue.
Totally agree Roger. A VERY tired brand, VERY unpleasant shopping experience always, VERY tired advertising, VERY tired staff, cheap goods but not always cheap prices, VERY average management,
And as a result, VERY average shareprice performance. Can't believe Craigs facilitated a placement at 3.20 last year.
I can honestly tell you I have never felt the need to travel to AGM's, im what you lot describe as a mom and dad investor. I pop along to the local infratil updates and thats about it, the rest I can read in the minutes and generally someone from here goes to the meetings of companies I have an interest in and lets me know the overall mood. But these guys need a serious barrel and I may need to fly to the next AGM to deliver it. Whoever in the marketing department thought the warehouse didn't appeal to families prior to late last year needs their head read! Sure they could have made a stand on R18 games GTA been the main catalyst there, but for crying out loud, Game Of Thrones would be worth huge money to them in 2015 but they won't be getting a slice of any R18 top selling movie or show now.
Time for some fresh ideas
Agree but I think the issue goes deeper than that. For what its worth I think customers are sick and tired of being burned by cheap and nasty products at the bottom end of the quality scale.
Honestly if I was MD I'd completely overhaul the brand starting with a name change and I'd try and shift the whole WHS store into mid range general department store products recognising that customers want a better quality shopping experience. I'd change the colour of the stores, ensure the fit-out was lifted, ensure all major brands were represented and look to take advantage of one of WHS's few key assets, Its big store low rent footprint.
I'd leverage the low rent to move it upmarket...Briscoe's are doing well aren't they !!! I'd sack the current advertising agency who are clearly grossly incompetent, engage some real talent and move the tired and dying old brand into the mainstream middle ground before it chokes to death on its own irrelevance. The vast plethora of suburban cheap Chinese corner stores are the new WHS aided and abetted by the junky $1-2-3 stores.