Might well be an indication that players expect the industry to boom, which would be good for WHS ;) ;
Actually - competition is good for business, as long as the playing field is level. Ever wondered, why competitors tend to clump together?
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Briscoes man Rod says in these tough times forvsome consumers his plan is of the plan to “try and eat someone else’s lunch”.
This meant if there were 10% fewer people willing to go and buy something it would mean taking customers from the our competitors.
Good old Rod ….he knows the reality of retail …it’s beating your competitors when you havevtoo …..something not in WHS culture
Hope Rod leaves some crumbs in the lunch box for Nick
Sp is up this morning 2c despite the dollar dropping. Warehouse where-else
https://www.nzx.com/announcements/399491
Second highest Group sales ever of $3.3B as Kiwis seek out affordable products in another challenging year
Highlights include:
• Group sales of $3.3 billion, down 3.5% on prior year, up 3.8% on FY20
• FY22 gross profit margin decreased compared to FY21, but improved during the year with FY22 H2 gross profit margin of 36.1% up 140 basis points from FY22 H1 gross profit margin of 34.7%
• Reported Net Profit After Tax of $89.3 million – down 18.3% on prior year
• Adjusted Net Profit After Tax of $85.5 million – down 48.9% on prior year
• Both reported and adjusted NPAT reflect $11.4 million (after tax) reduction due to accounting treatment of cloud computing software arrangements
• Group online sales up 39.8% and making up 15.3% of total Group sales, and within this, click and collect up 54.9% and making up 49.0% of total Group online sales1
• Strong growth in MarketClub, our new Group membership programme, acquiring nearly 600,000 active members in first 10 months
• MarketMedia announced as new unified retail media platform, with retail media revenue growing +23% on prior year to $20.9M
• Final dividend of 10.0 cents per share declared, resulting in full year dividends of 20.0 cents per share.
v• Group online sales up 39.8% and making up 15.3% of total Group sales.
Positive improvement.Still more growth to come from this channel.
reckon there just track back to yr 19/20 figures and div's as inflation bites. yr 21 an outlier
themarket.com i see is continuing to lose big $$ as i called some time ago. $24m loss.
There is no road to profitability here.
That is a whoping 20% hit to groups overall profit.
T7 back into losses. this will increase next year.
Yield appeal also fading with Westpac type Bonds yielding 6.2% with no equity risk ....Not much chance of growth here also ....so 20C dividend should not hold it over $ 3 for long !!!
Lower adjusted profit than I expected
H2 profit margin 2.4% of sales and likely indicator of future profitability (margins and costs under pressure).
Bit of a worry that after selling $3.3 billion of stuff they generated only $7m of cash - and then spent $107m on capex and paid $96m in dividends
The much touted cash mountain of $160m has turned into a pile of debt of $41m
Message to Nick - not a good year really and there's too many excuses and warm fuzzies in your presentation. Hope you realise F23 will be even more difficult and that instead of focusing on doing awesome things' for the world you just get on and concentrate on making a decent profit.