probably because all they've got on the shelves are Easter Eggs eh lol.
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Tony coming on board also.....would have thought had enough going on with MFB.....
https://www.nzx.com/announcements/428234
Pretty amazing effort ……even better than Briscoes
Continuing Adjusted Net Profit After Tax (NPAT) for the period from continuing operations increased 18.9% to $30.7 million
18.9% increase in profit in these tough times …wow
Love it when you cut the rot out and discard it and forget about it eh
TheMarket.com being sold or closed down as well
We need these NZ retail companies to stay profitable. If they don't then NZ will suffer as stores are closed.
From a macro point of view it's very concerning where we are heading.
It does look like management are making better decisions. But who really wants to stay invested in the WHS at the moment as the turn around will take a few financial years.
Now fire the CEO and this could be a buy. Absolute plonker.
I bought $180 worth of winter kids clothes from temu the other day. Hasnt been delivered yet. Looking forward to seeing the quality and if sizing is correct. Everything was $5 to $10 a piece.
Usually we buy our kids clothes from Farmers. Their price to quality is pretty good. But when you are buying 3 long sleeve t-shirts for $16.77 its hard to pass up. Farmers current special is buy 2 for $30!!!
Temu is a major major issue for the WHS and others. Not sure how the big brick and mortar stores will be able to beat it?
Tui ad right there.....
From what I understand, it is 5% net to the bottom line for a Foodstuffs owner.
While I would think the perception of the Red Sheds is reasonably negative compared to Kmart etc, their efforts of food will be appreciated by many. Not sure how much 'cross-sales' takes place, but must increase food traffic.
Actually he has taken a big pivot here - shedding his kingdom building by closing down themarket.com and selling off T7. Gross margins increasing, staffing costs down. Net debt almost down to zero, winding down tech capex.
I’m not holding, but looks like a fairly responsible turn around all of a sudden.
on a related note, its crazy there Wellington store has been closed for what seems like about a year now following what was a minor fire.