https://www.thewarehouse.co.nz/
https://themarket.com/nz/
Looks like two separate websites to me....but who knows maybe they're intergrated in the back office somewhere.
I've already taken note of page 25...and the losses from the market in its second year are well up on its first year as noted therein. Turnover is well down.
Based on WHS own presentation numbers themarket is shinking in size and losses are expanding in the middle of a Covid epidemic when online sales growth is going ballistic...surely that would worry any reasonable investor ?
Meanwhile HLG are growing their online sales and not losing money on their online platform. ;)
No worries mate, I am sure this year will be different and with Nick doubling down on his investment in the market the ~$40m loss will drive huge future profit...what could possibly go wrong and if it does they could always double that spend to $80m the following year, surely that would be a guaranteed success story and on the off chance it isn't why not double it again to $180m capex, surely there's no chance you can't lose then ;)
What would this grown up bean counter know....gosh, maybe just a little bit after selling Nick my shares at $4.10 :p