Selling out means no further threat like that happening perceived ....otherwise they would have kept that investment ...maybe WHS promised to them no interest in groceries business .
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I dont really get the connection with changing WHS to groceries. WHS along with Kmart have a strong market position selling the type of things they do in NZ. Why would Woolworths take them down the grocery route? Either they're the WHS or they're a supermarket. It wouldnt work having half and half.
A recent survey on Seven Sharp found common groceries cheapest in England ,then NZ 2nd and Aus and USA tailing behind. we do well here at the bottom of the world and such a small population.
I got 100 % of what applied for @$3.27 thru Craig's.
https://www.stuff.co.nz/business/ind...orth-of-shares
LOL what a laugh. You see the NZX and the insiders need to make an announce to unload that amount of shares ; who are the suckers walking in to buy it? (line up all those Kiwi Saver funds) - 9% is not small beans.
First, question why Foodstuff wants to unload their position?
Yes it makes a lie of he distance argument. NZ wine, beer and lamb all cheaper in the UK than the country they originated in. Some people would be shocked if they knew just how much a difference there was between what we pay for groceries compared to the UK.
Used to love the Pizza section in Azda. You couod design your own and choose what toppings you wanted, all for about Seven NZ dollars. Here you go to New world and see an inferior pre made pizza in their deli and they want nearly Twenty dollars for it.