aye, but interesting enough, PB Tech is (or at least was) phenomenally profitable. something about how they imported their stock and the C grade el cheapo retail outlets they had, together with an early and strong ecommerce offering. understand it has been shopped around several times over many years but no one ever bought it, guess no one could get their head around it.
electrical goods and electronic sales a funny business - on average has relentless deflation (PCs, laptops, gadgets, TVs, all tend to get cheaper over time. exception is iphones which get more pricey) but works on increasing volumes year on year on the back of cheaper products (you can check out volumes, delfators and prices for this category on stats nz if you dont believe me, seems hard to fathom). rebates are key.
redsheds not just cheap clothing and dry good foods, but it hosts a reasonable sized electronics and appliance category of its own, plus sporting, homewares & furniture, etc. as far as I'm aware warehouse group has never in recent times provided any granularity into the category makeup of redshed sales. largest category by floorspace clothes, but hard to know at the $ or contribution level.
Q3 sales per average store for noel leeming were the most elevated relative to pre covid Q3 of all the brands.
* RED: $4.49m per average quarterly store vs Q3 FY19 of 4.15m. 2.6% CAGR
* Blue: 0.96m per ave store vs Q3 FY19 of $1.02m (-2% CAGR(
* NL: $3.66m per store vs Q3 FY19 of 2.82m, 9% CAGR. Starting to slow, it fell to 1% sales per ave store from Q3 FY21 (although total sales fell 2.5% on the pcp with a few store closures)
* T7: $1.62m vs $1.51m. 2.4% CAGR. Sales per average fell 6.1% from Q3 last year. So total sales for this division increased during the quarter as there are new stores, but average store revenue is falling sharply. A bit of a worry as these are new stores with long fixed tenures, and quite expensive (second most expensive store to operate of the 4 brands on a CODB per average store basis). A good winter snow could help with ski sales, but this business unit lost quite a bit of money for a long time and wasn't particularly profitable even when home fitness was going through the roof, so plausible could sink back into a loss making position with all these new expensive stores.
winner69, Q3 noel leeming sales fell yes, but they also shut a few stores over the period. Q3 FY21 they had average quarterly stores of 72.5, this year 70. I dunno the JBHIFI store numbers. I guess NL dont think the covid stay at home electronics sales boom is going to last forever.