Did they give any colour around how they are going to turn Torpedo around??
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When t7 was online initially it provided value but I was quite surprised visiting a physical store. It was all high end prices and nothing else. Not much to differentiate from anywhere else. I have been in a lot of mitre ten, bunnings and warehouse lately. Warehouse can difffer store to store. Staff at the base cant find their arse. Staff at bunnings know where everything is and have time to help. One lady at mitre ten spent ages helping my friend choose two tomato plants. The warehouse feels like a govt department under labour.
Ordered some things online on the 22nd. Apparently a “glitch” in the system only discovered yesterday, cancelled a whole lot of orders. Delivery now ‘sometime’ early December.
No comms on this at all until I phoned.
Appalling. Can’t believe I’m a shareholder.
trading update will sneak out this fri at 4pm.
im picking its going to be an absolute howler.
if only there was a way to short this on the nzx!
ill leave this here
https://nz.trustpilot.com/review/torpedo7.co.nz
I agree, went into a two different Warehouse stores, one pre Christmas and one yesterday on Boxing day, pretty empty - hardly anyone in them, lots of empty shelves and damaged stock and general untidiness - but what was most striking was how few people were in there buying anything. Didnt get a good feeling - especially the lack of stock and lack of any good deals. Torpedo7 was much the same, except seem to have a massive overstock of bikes and not a lot else, stores a mess and again a lot of opened and damaged stock, was looking at wetsuits no "normal sizes" only giant sizes or midgets, that seemed to be common, cant even give them money so left and bought one at Rebel.
Then I made a silly mistake of going to Kmart - queue for the checkouts must have been the length of the store, people with jammed trolleys, store also a mess - but a different sort, because people had just been going wild. I know who I would be investing with.
If the numbers are just average, it will definitely be a surprise.