As a result, TW Group has revised its guidance given in March 2014 of Adjusted Group Net Profit After Tax (adjusted NPAT) of $67-$71 million down to $59-$62 million.
https://www.nzx.com/companies/WHS/announcements/251819
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As a result, TW Group has revised its guidance given in March 2014 of Adjusted Group Net Profit After Tax (adjusted NPAT) of $67-$71 million down to $59-$62 million.
https://www.nzx.com/companies/WHS/announcements/251819
It makes a mockery of the March placement and SPP. What a rort.
Also I suggest some insiders who had access to this either within or outside and specifically provided by the company, traded on this information earlier this week.
Clothing buying department useless. Quality is crap. And yes, somepeople in the know dumping stock earlier this week. Investigation? No chance.
At $60m NPAT this will be the worst result since 2006 (8 years ago)
I realised how bad Warehouse performance has really been since 2006 until I looked up the numbers. In 2007 NPAT was $115m and this has steadily declined to the current $60m. Last year 2013 was actually the only year that profit was better than the year prior.
So in spite of changes in strategic direction, acquisitions, range extensions, going more upmarket, store revamps, going online and all sort of stuff each years profit performance has been worse than the year before (except for 2013)
That's some record I reckon.
I still don't believe it but that is what the numbers say
Percy says retail stuffed (or difficult at the moment) and backing perennial losers in such a market is not a good idea.
But the weasel words Simon quoted in an earlier post must mean something. So this time is different eh and 2015 will be a great year for WHS with profits close to $100m
Far too much stock in the business with not enough turn over.
This leads to vast discounting and burning margin.
Simple really.
The Warehouse have sold enough stuff already. People have bought what they needed. Enough is enough.
But when they get their financial services up and running, that will entice more people to buy more stuff they don't need.
LOL you guys have the attention spans of hamsters:p... Investing is about marathons not sprints. Retail is difficult...yes...business is slow everywhere....yes. However WHS is in a better space than most retail because they are fast adapters, have multi channel offerings, have a strong brand, have exhibited the ability to perform well year after year. They also recognise and are capitalizing on new ways of shopping and above all have always offered great buying to the NZ public by way of "cheaper than high st" pricing. So is retail dead....no its changing and WHS is not getting left behind because its always shown it adapts well and fast. So what if it has to blow out some lines at cost or just over...punters get a buy, cash flow keeps coming, new stock in and punters are back for more good buying. Buying shares in WHS is always a good idea...when SP takes a dive maybe time to look for a spot/ way in. DYOR and all the other stuff of course.