I was disappointed they didn't make a better go of Warehouse Money. They had a lot of existing advantages, large store footprint, large business and cross marketing opportunities, existing credit sales, NZX listing to raise capital, finance companies had been wiped out etc. Credit card competition in NZ is still very low compared to other markets. Instead they got out after only a year or two.
I guess the brand name "Warehouse Money" was their first and biggest mistake. Should have called it "Pounamu".
Supermarket sales and a thriving financial services arm, combined with their online outlets (which have been relatively successful) would have seen the company do well.