Agree with you.
nfometrics' Brad Olsen provided analysis to Newshub showing a 'second wave' of unemployment may hit New Zealand and an extra 80,000 people could lose their jobs
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One thing WHS are good at is ‘normalising’ their ‘operational profit’
Been doing it for years and with Covid and restructuring and wage subsidies no doubt they’ll be ‘normalising’ for years to come ...and the market will fall it again.
Nearly $100m of abnormals / one offs is big amount last few years
Kmart grew revenues 10% in F19 while the Watrehouse (red) sales growth was anaemic.
Kmart growth been solid for a few years now ..Warehouse (red) sales are about the same as they were 5 years ago ...bit of an indictment that is.
Interestingly Warehouse (red) sales fell post GFC which belied common belief that punters would flock to those sort of stores
Noel Leeming only part of group that has any prospects.
But that's in the past ...the fully transformed and restructured company will be great.
I think some self-service checkouts like Kmart has will be helpful and reduce costs/prices further.
Hope you read this bit -
Feedback from customers indicated that spending would drop as economic conditions worsen, he said.
"For example, 49 percent of our customers told us that they've already started restricting the purchase of everyday items, 25 percent have said 'we've slammed on the brakes' and 76 percent [expect] tough times ahead."
Pretty sobering
Yeap. All depends when they took the survey. Considerably more optimism now that we're in level 1. All good, no worries.