Mary Jo who wrote that report said take it with a grain of salt.
Stats NZ Card spend data next Tuesday will give a better idea of what’s gone on
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Perhaps part of the reasoning too? https://www.nzherald.co.nz/business/...P63DZ44BQI75Q/
Can only pass on price increases if they have product in stock.....
But in terms of WHS, currency has moved favourably in the last 12 months. Also think they already pay the living wage, so already were over $20/hr.
Although the "living wage" will also no doubt increase.
I think we agreed the other day that Mary Jo's Kiwibank report the othr day was rubbish.
Stats NZ Electronic Card Spend data out today - covers all card spend in NZ (bit more robust than just Kiwibank transactional data I think)
Below a summary
Things are 'slowing' a bit they say - if you prefer the seasonally adjusted numbers
expanding further on the retail sales
Changes in the actual value of electronic card transactions for the March 2021 month (compared with March 2020)
Durables sub-industry movements:
- furniture, electrical, and hardware retailing, up $105 million (17 percent)
- department stores, up $54 million (20 percent)
- recreational goods, up $21 million (16 percent)
- pharmaceutical and other store-based retailing, up $9.9 million (2.9 percent).
https://www.stats.govt.nz/informatio...ons-march-2021
So look like the commentaries from the jbhi fi , harvey norman , warehouse etc all similar about sales etc still good into this year is continuing with another good month in march. still in line with my thinking that these types of stocks will still report very healthy results in the second halve this year and big increased dividends in line with the increased profits.
Part (all, or more?) of the annual increase will be due to the last week of March 2020 being in lockdown. The pharmaceutical anomaly might have been people stocking up pre-lockdown which masked the impact.
More redundancies ...and prob getting rid of those stupid jewellery departments
More profit for shareholders
Good stuff
https://www.stuff.co.nz/business/124...ndancy-rumours
Sad for the workers eh. Sign of the times thou. Less employees, more technology, more automation. Blame amazon.. or progress.
Sales booming yet we need less employees.. And this is what consumers demand- lower prices. Actually this is why in the long term I am a deflationist. The same product or service can be sold for less and less cost.
The last time I went to the warehouse I picked out the product I wanted, purchased it at the self checkout and walked out without needing anyone's help. Don't recall seeing many employees actually- how many are left to make redundant?
(NB. As a shareholder I am happy)