Here comes $3.00. OUCH !
Again, going to the WHS stores and noticed that nothing has changed on the ground floor.
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Here comes $3.00. OUCH !
Again, going to the WHS stores and noticed that nothing has changed on the ground floor.
Try here comes $2.00 OUCH
The trend is your friend and there's only one trend going on here
The announcement should not be a surprise. House prices have been very strong for 2 or 3 years, we have had a very bullish sharemarket for 2 years, and unemployment is less than 4% (economists consider 4% unemployment as full employment).
People are feeling wealthy (whether they are actually wealthier is a moot point) so they don't feel they have to buy the cheapest of the cheap.
The other revolution taking place is that NZers are beginning to appreciate the concept of 'value'. Previously people thought that value was buying the cheapest they possibly could; 'value for money' is a completely different concept. Instead of shopping at WHS, they are shopping at places like Farmers.
As an aside, have you ever seen what happens to the main shopping street in a small provincial town, in NZ, when The Warehouse arrives in town. It ain't nice.
Right now I'd rather be a JE Thomas & Co shareholder than a WHS shareholder!!
The downtrend to continue for some time yet.
JE Thomas & Co, yeah im sure theyre doing pretty damn well.... you a marlborough man skytower or know someone that works there?
as for whs, wouldnt touch it .... look at the trend, you would have to be near on crazy.
Floyd lets just say I come from the best part of New Zealand ;)
And another year or two of a bull market (prolly unlikely) and that holiday house in Lochmara Bay will be more of a reality rather than the present dream.
Christmas at Puna Cove this year was bliss (after a stressful year at work).
then that makes two of us sky tower, ahhh yes that lochmara bay bach dream....ive got it too....lol
wanna go halves? the dream will be a become a reality twice as fast that way - six months of the year each
They could be worth buying as a recovery stock once they hit $2.50...and they sell off the Silly Sollys and Clints Crazy Bargain stores in Oz (unsuitable sizes, designs and unWarehouse type locations)....and after the NZ economy has gone through its business cycle over the next two years and NZ retail spending recovers.....
I agree with The Major (surprisingly). I was kidding when I said $2.00. At some level it will find support and if I was a betting man I'd say something like $2.50. They will eventually sort out Aussie, the NZ business cycle will move in its normal cycle - and there will always be enough New Zealanders who dont understand the concept of 'value' for money ( a portion of the population will always shop at the Red Sheds...........so they find support somewhere - but the price will fall some way yet
The Red sheds - appalling service from totally uninterested staff, store layouts a shambles, cheap crappy products.
The Blue sheds - an utter disgrace. Staff haven't the faintest idea what they're about when it comes to high tech products (like an ink cartridge for a printer - lol).
I think the Warehouse is finally being found out by more and more discerning shoppers.
You only find me in one of their shops if I'm really desperate to buy something that will last five minutes, have hours to waste in one of their interminable queues, and am in the mood to tolerate the insolent shoulder shrugging from the gum chewing turkeys manning the checkouts.
Hmmm - is this too harsh? No.