WHS - Warehouse Group

[Entrep]

These days are long gone

https://www.youtube.com/watch?app=desktop&v=DbVNrfCHNOo

[Sideshow Bob]

These days are long gone

https://www.youtube.com/watch?app=desktop&v=DbVNrfCHNOo

I prefer this version for a Friday arvo.......:laugh:

https://www.tiktok.com/@jammylammyofficial/video/7204717311289199874

[Traderx]

No market update since November, we are now in mid Feb, T7 continues to have their banner on website saying massive delays on delivery. WHS continues with their half-hearted grocery strategy, stores remain shabby. SP continues to plumb new lows.

Disc - no holding

[winner69]

JB HiFi half year December report NZ sales up 5% but boosted by 3 new outlets …comparable sales down 1.2%

Sales $169m …resulting in small LOSS

Jan month saw comparable sales down 4% (with new stores +8%)

Can’t imagine Noel Leemings having a good half year based on this

[Balance]

Having done a bit of shopping recently with time to spend comparing pricing and offering across different stores, T7 and Noels left me completely underwhelmed with what was on offer, store condition/organisation and tidiness. Gave up on trying to find any staff available or with sufficient knowledge to assist as well.

Pricing of consumer level products is also pretty much the same as anywhere else for equivalent quality, with T7 a surprising amount higher. Simply reinforced in my mind why I avoid the group 99% of the time and take my money elsewhere.

Long gone are the days when a bargain could actually be found.

If you want a bargain, go to Panda Mart currently only 1 store in Auckland. Things are cheap as! I understand the owners are looking to roll out all over NZ.

WHS has its work cut out to compete on price with them.

[bull....]

About 40 Tauranga Warehouse staff to find new roles as Cameron Rd site closes
https://www.nzherald.co.nz/bay-of-plenty-times/news/about-40-tauranga-warehouse-staff-to-find-new-roles-as-cameron-rd-site-closes/GRCCBR7TG5G75P2DYOR56TO56U/

[winner69]

About 40 Tauranga Warehouse staff to find new roles as Cameron Rd site closes
https://www.nzherald.co.nz/bay-of-plenty-times/news/about-40-tauranga-warehouse-staff-to-find-new-roles-as-cameron-rd-site-closes/GRCCBR7TG5G75P2DYOR56TO56U/

A middle manager seems to have more clues than Nick -

The Warehouse regional manager Daniel Prew said closing the doors on the Cameron Road store was not an easy decision “but after looking at things like how the store’s been doing and how our customers shop, we had to make the tough call”.

[ralph]

If you want a bargain, go to Panda Mart currently only 1 store in Auckland. Things are cheap as! I understand the owners are looking to roll out all over NZ.

WHS has its work cut out to compete on price with them.
Them bloody Pandas are going to rule the world soon ,poor owd kiwi warehouse:eek2:

[nztx]

Them bloody Pandas are going to rule the world soon ,poor owd kiwi warehouse:eek2:


You got wonderful way wiv werds my friend - maybe Warehouse Pandas just need new paint job & fresh battery ? :)

[Sideshow Bob]

This should "brighten' shareholders day.....!! :t_up:

https://www.scoop.co.nz/stories/BU2402/S00116/the-warehouse-group-stores-make-historic-switch-to-solar.htm?utm_source=ST&utm_medium=email&utm_campaign=ShareTrader+AM+Update+for+Wednesday+1 4+February+2024

[malreid]

Greenwashing given the amount of short lived junk they import and sell to the masses every Easter, Halloween and Xmas on top of the generally short lifespan of cheap low quality products.

[ralph]

Greenwashing given the amount of short lived junk they import and sell to the masses every Easter, Halloween and Xmas on top of the generally short lifespan of cheap low quality products.

A K A Bargains

[Joshuatree]

About 40 Tauranga Warehouse staff to find new roles as Cameron Rd site closes
https://www.nzherald.co.nz/bay-of-plenty-times/news/about-40-tauranga-warehouse-staff-to-find-new-roles-as-cameron-rd-site-closes/GRCCBR7TG5G75P2DYOR56TO56U/
Was inevitable.It was the first Warehouse in Tauranga I believe before Fashion Island ,The Lakes and other shopping centres built outside Tauranga,in what used to be Turner's and Growers fruit and veg auction building.Its been ghostly in there for years.At least two other warehouse stores here.
.Lease liabilities 2023 re $100 mill,prop plant and equipment re $223 mill .How many buildings they own ,don't know.Tga City Council has bought it for indoor sports

[Recaster]

Apologies if already mentioned but Temu.com seems to be gaining rapidly in popularity and has many similar product categories to WHS.

[Entrep]

Apologies if already mentioned but Temu.com seems to be gaining rapidly in popularity and has many similar product categories to WHS.

Temu, Aliexpress, Kmart - the list of competitors lining up to eat the Warehouse's lunch is endless, and they haven't got a clue how to respond.

[Snoopy]

Temu, Aliexpress, Kmart - the list of competitors lining up to eat the Warehouse's lunch is endless, and they haven't got a clue how to respond.


What about linking up with a bit of royal patronage, to give their whole stock range a lift: The new branding being:

'Dealer of Everything King's Approved'

Yes its a mouthful, but you could promote the company via its new acronym: 'DEKA'. A name with a nice (yet strangely familiar?) ring to it?

SNOOPY

[thedrunkfish]

A bargain would be good quality, brought cheaply relative to normal prices.

[ralph]

A bargain would be good quality, brought cheaply relative to normal prices.
This Bargain you are referring to is that WHS s p ,or the Bargains to be brought in the warehouse store

[winner69]

WHS shareprice down 7% to 129 today

About the lowest it’s been this century

Bit suspicious if they do a KMD tomorrow and have a bad update

[nztx]

WHS shareprice down 7% to 129 today

About the lowest it’s been this century

Bit suspicious if they do a KMD tomorrow and have a bad update


Oh .. a reverse dividend you mean ? no impute cr's and no withholding things back :)

What sort of bargain basement price do you reckon they will strike for that one and will it include
a CFO's scalp and a few boardroom heads ? ;)

[Forrestdun]

Oh .. a reverse dividend you mean ? no impute cr's and no withholding things back :)

What sort of bargain basement price do you reckon they will strike for that one and will it include
a CFO's scalp and a few boardroom heads ? ;)

At this stage it should be all of them right?

[FTG]

Chart first gave ominous signals back in Jan 2022, and has looked hideous (at least for the Bulls) ever since. Showing oversold signals on the monthly charts, but FIB pointing to sub $1 being quite possible by EOCY24. Just a feeling, but next update may see a further, and significant, SP capitulation?

IMV things have clearly been amiss at WHS for quite a while. Financial metrics, operational metrics (poor execution) and MV (SP) all singing (moaning) the same tune. Sad to see the degradation of what used to be an iconic Co. Can imagine PE & Trade picking off pieces in the not too distant future. :(

GLTAH

[nztx]

Time to pull the Knight saviour & extraordinaire out of the retirement cupboard to throw around some magic dust ? ;)

[nztx]

At this stage it should be all of them right?


off with their kneecaps for sleeping on the job & failing to perform on required number of buckets full ? ;)

[850man]

T7 sold for $1
https://www.nzx.com/announcements/426627

[Sideshow Bob]

Surprised, not surprised.

Expect they will be better operators than WHS.....

[Muse]

pretty good evisceration of shareholder funds.

but a good outcome to be able to walk away from it.

[Rawz]

Nick should resign

[Muse]

Nick should resign

Absolutely.

[Sideshow Bob]

Absolutely.

Write-off of $55-65m.

Shameful.

[winner69]

Surprised, not surprised.

Expect they will be better operators than WHS.....

T7 joins a big stable of operations ….. including Starbucks, Burger King, Hannah Shoes & No. 1 Shoes

[Muse]

T7 joins a big stable of operations ….. including Starbucks, Burger King, Hannah Shoes & No. 1 Shoes

All turnarounds and carve outs. Starbucks - wasnt that a carve out from RBD. BK was a massive failure for its previous owner. TP7 a carve out from WHS. Hannah shoes ex Hellaby Holdings.

[winner69]

WHS apparently paid $79.3m for T7 and another $50m on additional companies to bolster the business.

Already written of the $40m goodwill involved

Be interesting what makes up the additional $55m/$65m write off ….probably big stock adjustments along with employee leave etc provisions ….and maybe even some rent subsidies

What a disaster. …but never mind Nick says the net cash impact (post tax) of the sale will be close to zero….so no worries

Should frame the $1 coin and frame it and hang in Board Room as a reminder of past follies

[Sideshow Bob]

Will be interesting to see if Tahua "got a bargain.....".

Surprisingly trading down only 3c/2.4% so far today.

Although trading at the lowest level this century already.....:sleep:

[moose]

Will be interesting to see if Tahua "got a bargain.....".

Surprisingly trading down only 3c/2.4% so far today.

Although trading at the lowest level this century already.....:sleep:

WHS down about 25% in past 2 weeks or so despite no news/updates......Obviously this deal didn't happen overnight. Likely plenty of insider trading from WHS senior management and their friends & family.
But this is the NZX so don't expect anything from the regulators.

[Balance]

Gross mismanagement of T7 by the Warehouse and shows that the directors & management have no transferable skills in running businesses outside of the declining fortunes of WHS ‘classic’.

[iceman]

Deleted deleted

[samjaynz]

I worked for Torpedo 7 (well part of the business that had actually been acquired by T7 before itself being acquired by The Warehouse Group) about a decade ago. I technically had a 'management' position - at least based on my job title - working in a back office and met all the group managers, used to be privy to the sales reports that would be distributed each morning, sat in on management meetings and all that jazz.

Honestly back then it felt like quite a fun, dynamic place to work (particularly with the more "swashbuckling" sub-brands e.g. 1 Day and Shotgun Supplements) and I'm proud of the work my little team did, but some internal changes among more senior management made it clear the writing was on the wall and I looked for new pastures. I

I got out just before there was a big restructure, around the time that Grayston came on board. I recall being in a whole bunch of trouble with my manager for telling him that I thought Grayston looked like an incompetent - I wonder if my then-boss would be willing to eat his words all these years later?

I occasionally shop at T7 but am always disappointed with the service, the selection and the seeming incapability of their systems to actually determine what stock is where.

[winner69]

I worked for Torpedo 7 (well part of the business that had actually been acquired by T7 before itself being acquired by The Warehouse Group) about a decade ago. I technically had a 'management' position - at least based on my job title - working in a back office and met all the group managers, used to be privy to the sales reports that would be distributed each morning, sat in on management meetings and all that jazz.

Honestly back then it felt like quite a fun, dynamic place to work (particularly with the more "swashbuckling" sub-brands e.g. 1 Day and Shotgun Supplements) and I'm proud of the work my little team did, but some internal changes among more senior management made it clear the writing was on the wall and I looked for new pastures. I

I got out just before there was a big restructure, around the time that Grayston came on board. I recall being in a whole bunch of trouble with my manager for telling him that I thought Grayston looked like an incompetent - I wonder if my then-boss would be willing to eat his words all these years later?

I occasionally shop at T7 but am always disappointed with the service, the selection and the seeming incapability of their systems to actually determine what stock is where.

Sad story in a lot of ways there samjay

One hopes that being operated by guys who have some customer empathy T7 might be great again

I was in a meeting with Nick shortly after he turned up at WHS and had same thoughts as you …..think I said to myself heck what was the Board thinking taking him on.

[Sideshow Bob]

I occasionally shop at T7 but am always disappointed with the service, the selection and the seeming incapability of their systems to actually determine what stock is where.

That is completely my experience too. Hit & miss for service instore, but online & call centre is rubbish. Buy things and then out of stock - latest one was using a voucher to buy and refunded but now can only spend online.

Thanks for sharing Samjay - very interesting and no doubt you've moved on to greener pastures....:)

[Entrep]

This one shows absolutely no signs of turn around.

Kmart killing them
Torpedo 7 and TheMarket killing them

They need to make some hard decisions.

Well, Torpedo 7 is gone. 1 out of 3.

Next, ditch TheMarket.
Then, ditch the CEO / board and get someone in with a clue how to respond to Kmart, Temu, etc etc.

[malreid]

...how to respond to Kmart, Temu, etc etc.
I think one of the problems WHS and Kmart is they are fighting for lowest common denominator status when it comes to physical presence. The offerings are little different, pricing is similar and store tidiness/customer service of both treads a fine line between the below par and shambolic. At least here across Auckland.

Can't speak to the online experience though.

[Comyn]

Unfortunately it may end up like Deka.

[kiwijay]

I'm kind of surprised at how bad Torpedo7 has tracked... I know it's underperforming, but I'm not sure it's a $1 firesale sort of deal. I think they were leaders in quite an overpriced outdoor segment. Their closest competitors were Kathmandu, Macpac etc, and they don't have the gear or equipment (e.g. cycles) that T7 has. If anything I think they didn't do a good enough job of positioning themselves as the one stop shop if you're leaving Auckland for the weekend.

I think the quick sale in itself demonstrates the incompetence of Grayson and the team. I see huge potential that Tahua will realise and laugh to the bank with.

With regards to NL, they're really just another player in a very competitive electronics landscape... Competing against PB Tech, JB HI FI and HN but doing it poorly - the service and price points are lacking, and you often get sales hungry vulchers instead of techies wanting to help. I think their real risk is here being lost in a crowded race.

Lastly we come to the Warehouse - what a absolute clown show. 2024 and we still have the $2 goods at $10 prices. The concrete floors and open racks are a far cry from the aesthetic and bright Kmart experience. Across my millennial group, Kmart is seen as passable (and a right of passage for a first flat), whereas the Warehouse is just disdain. On top of this the smart shoppers but from AliExpress and Temu who can drop ship within the week now.

I won't touch on The Market... I don't even know what that frankenstein of a site is...

In conclusion, I think they've shot the wrong horse, and now they're really screwed for the race ahead.

[nztx]

Write-off of $55-65m.

Shameful.


that's 15% of the 2023 FY 31 Jul Shareholders Funds down the toilet (if we say midpoint $60 mil write off)

How's the rest of the ship doing ? still going forwards or crawling along on a fraction of the steam ? ;)

[ratkin]

I think one of the problems WHS and Kmart is they are fighting for lowest common denominator status when it comes to physical presence. The offerings are little different, pricing is similar and store tidiness/customer service of both treads a fine line between the below par and shambolic. At least here across Auckland.

Can't speak to the online experience though.

Kmart seem miles ahead, always huge queues while the warehouse near empty. Only places warehouse does well is in places without much competition. Good thing with the warehouse was it it was an easy stock to escape from as the writing had been on the wall for some time.

[winner69]

I sense Nick’s next big disaster will be ‘focusing’ on selling heaps more food …heaps more in most stores that is …not just a fit of butter and a few carton of eggs but heaps of everything

I don’t think Nick quire grasps that you need more than ‘foot print’ to make money selling heaps of food

[Entrep]

Kmart are miles ahead. We got a TON of kids stuff from them, from toys to necessities. So do all our friends.

We would never even think to go the Warehouse.

[Sideshow Bob]

Kmart are miles ahead. We got a TON of kids stuff from them, from toys to necessities. So do all our friends.

We would never even think to go the Warehouse.

WHS Red Shed stores are just depressing......

Dunedin KMart closed due to semismic risk a few years ago. About to reopen in South D. But an indication of the pull of KMart (and how bad the WHS is) is that companies have been organizing shopping trips to KMart Invercargill.

https://thespinoff.co.nz/business/30-10-2022/were-taking-this-bus-to-invercargill-kmart

Old news, but a sad inditement on a few levels, but pretty sad for the Warehouse.

Not KMart and only a WHS where I live - been in the Red Shed once and actively avoid the place.

[777]

Went into KMart once. Total rubbish. Never been back.

[whatsup]

WHS Red Shed stores are just depressing......

Dunedin KMart closed due to semismic risk a few years ago. About to reopen in South D. But an indication of the pull of KMart (and how bad the WHS is) is that companies have been organizing shopping trips to KMart Invercargill.

https://thespinoff.co.nz/business/30-10-2022/were-taking-this-bus-to-invercargill-kmart

Old news, but a sad inditement on a few levels, but pretty sad for the Warehouse.

Not KMart and only a WHS where I live - been in the Red Shed once and actively avoid the place.

The market is doing to the WHS what the WHS did to the Moms and Pops stores all around N Z all those years ago, now Mr T you know how it feels !!!

[samjaynz]

That is completely my experience too. Hit & miss for service instore, but online & call centre is rubbish. Buy things and then out of stock - latest one was using a voucher to buy and refunded but now can only spend online.

Thanks for sharing Samjay - very interesting and no doubt you've moved on to greener pastures....:)

Certainly greener pastures now, but I look back very fondly on my time there (well most of it - the last few months before I left/T7 group was restructured with the sub-brands being rolled into the T7 stores was fairly miserable as most of us sensed what was coming; I was just fortunate to get out before the boat really started capsizing).

If I think about the issues that were present during my time, many of them did seem to go back to the fundamental issue that upper-level Warehouse Group management was "detached" from the reality of what the customers of younger, fresher brands like T7, 1-Day, No1 Fitness and Shotgun Supplements (all under the T7 group) wanted, as well as having merchandisers who just didn't "get it".

Take 1-Day, for example. In its heyday 1-Day was very popular because it offered a tiny number of genuinely good deals each day. Once the stock was gone it was gone. The 'OG" 1-Day team understood this. However, over time it became a dumping ground for group crap that the other brands couldn't sell, with barely any good deals (the only ones worth buying were the 'diamond deals'). This is because upper management just thought they could sell any old garbage and people would buy it because of the time-limited novelty.

No1 Fitness, which was once again a good little business in its heyday, tried to branch out into selling branded apparel from Nike, Adidas etc because the merchandisers were able to source some cheap product. Management thought this was a great idea. The only issue? It was last season's stuff (in fact older than that). Because NZ doesn't have a huge population of East European 'Adidasky' tracksuit wearers, hundreds of thousands of dollars of stock wound up languishing in the warehouses until we wound up giving it away for free with the purchase of fitness equipment - even then I recall customers literally saying they didn't want it.

Shotgun Supplements, there was an obsession with trying to get into selling home branded supplements (which did carry hugely superior margin) but that's not what customers wanted - they wanted the 'name brand' supplements, and where the opportunities were was to then upsell/cross-sell the order e.g. customer buys a protein powder with about 5% margin on it but then you sell them the pre-workout with a very healthy margin and it all balances out.

I learned a lot, which was a good thing.

[winner69]

Wonder how half year to January

No update

Must have been a good un’

Solid sales, good margins and expenses under control = good result (normalised / adjusted that is)

[Panda-NZ-]

It was last season's stuff (in fact older than that). Because NZ doesn't have a huge population of East European 'Adidasky' tracksuit wearers, hundreds of thousands of dollars of stock wound up languishing in the warehouses until we wound up giving it away for free with the purchase of fitness equipment - even then I recall customers literally saying they didn't want it.


Hehe. I do notice that Kmart has "fashion sense" and actually pays attention to trends. WHS can't compete there.

[mike2020]

Obviously has to be a buy since we now have twr sky and atm as market darlings. While hgh pgw all the rv stocks are ready to be euthanized. Its like a worm hole to an alternative reality opened up.

[nztx]

Is this a bargain yet ? :)

Has St Stephen introduced the Singer & Piano player for the Bargain Basement Showstopper ? :)

[winner69]

Worldliness sales data suggests WHS could have had bad start to new year F25



But spending was down in electronics/computer stores (-16.4%), department stores (-26.1%), clothing shops (-1.5%), furniture outlets (-6.0%), appliance stores (-9.3%) and wholesale/retail hardware merchants (-0.6%), Worldline said..

https://businessdesk.co.nz/article/retail/worldline-data-shows-retail-growth-slowing?utm_source=Digest&utm_medium=email

[bull....]

pretty grim half yr report but the shocker is the start to second half

wow feb sales down double digits :scared:

[Filthy]

yet still paying a divie. crazy. at least KMD had more sense.

[Sideshow Bob]

https://www.nzx.com/announcements/428233

The Warehouse Group simplifies further to focus on core brands
• Total Group continuing sales1 $1.633 billion in FY24 H1, down 4.9% compared to FY23 H1
o The Warehouse sales were $965.6 million, down 4.7%
o Warehouse Stationery sales were $117.9 million, down 5%
o Noel Leeming sales were $544.4 million, down 2.2%• Gross Profit $559.7 million, down 0.4%
• Gross Profit Margin increased 160 basis points to 34.3%
• The Warehouse Gross Profit increased 1.6% to $374.3 million, with Gross Profit Margin up 250basis points to 38.8%
• Continuing Adjusted Net Profit After Tax (NPAT) for the period from continuing operationsincreased 18.9% to $30.7 million
• Total Group Reported Net Loss after Tax, including the impairment of Torpedo7 assets andrestructuring costs, of $23.7 million
• Net Debt of $18.7 million, significantly down from $83.4 million at FY23 H1, with availableliquidity of $471.3 million
• FY24 Interim Dividend declared 5.0 cents per share.

[Filthy]

feb sales down double digits :scared:

probably because all they've got on the shelves are Easter Eggs eh lol.

[Sideshow Bob]

Tony coming on board also.....would have thought had enough going on with MFB.....

https://www.nzx.com/announcements/428234

[winner69]

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

[bull....]

Tony coming on board also.....would have thought had enough going on with MFB.....

https://www.nzx.com/announcements/428234

on boarding for the big profitable food push. but foodstuff's and woolworths tell us the margins are only 2% on food lol

[Toddy]

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.

[bull....]

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.

outfits like the warehouse are stuffed ( not noel leeming ) as they cannot compete against the likes of temu/shein in the same product categories

[Entrep]

Now fire the CEO and this could be a buy. Absolute plonker.

[Rawz]

outfits like the warehouse are stuffed ( not noel leeming ) as they cannot compete against the likes of temu/shein in the same product categories

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?

[Sideshow Bob]

on boarding for the big profitable food push. but foodstuff's and woolworths tell us the margins are only 2% on food lol

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.

[LaserEyeKiwi]

Now fire the CEO and this could be a buy. Absolute plonker.

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.

[Rawz]

SP up 5% so market happy with getting back to basics approach.

[Joshuatree]

As long as they don't buy MFB ehh:)

[nztx]

As long as they don't buy MFB ehh:)



Oh ***** LOL .. was expecting someone to trot that one out :)


but who would be getting a bargain ? ;)

[Toddy]

Educate me. Why are people buying this stock again?

[nztx]

Make a 6 Month Loss, close more doors, close or hock off more of the Ops within, pay a small dividend to please mum & dad holders (can't leave them barehanded - that would never do) - beats me why this has sent buying signals out on those sort of fundamentals & on the back of recent earlier period results .. clearly all is not well :)


Maybe the thoughts of the newly roped in baconiser bashing & banging away on new WHS fares in the kitchen might have inspired some ;)

[nztx]

Poor old Nick - crocodiles all round & didn't see any of them arrive in the surrounding pools ? ;)

must have been baby ones when they landed ..

As for NZM - WHS shares soar .. only by a vast jaw dropping 10c though ;)

might dive by the same amount by end of week after all digest the sombre report

The day must have been slow in the NZM Business newsroom or everyone was in a dream :)

[LaserEyeKiwi]

Went to check out the newly reopened Tory street central Wellington store - where management had issued PR recently proclaiming it as the latest store to be added to its grocery roll out.

Lies.

The food department was completely unchanged from before it closed a year back.

the store still looked the same as well, they did absolutely nothing to improve it (it was closed due to a small fire).

[winner69]

Went to check out the newly reopened Tory street central Wellington store - where management had issued PR recently proclaiming it as the latest store to be added to its grocery roll out.

Lies.

The food department was completely unchanged from before it closed a year back.

the store still looked the same as well, they did absolutely nothing to improve it (it was closed due to a small fire).

What, no fresh produce they were touting last week https://wellington.scoop.co.nz/?p=159525

Maybe arriving next week lol

[winner69]

Maybe we’ll hear how the disposal of TheMarket.com is going one day soon

[kiora]

Where is the Motu again?
Up by Whakatane?