http://www.nzherald.co.nz/business/n...ectid=11818080
Some insightful comments from Rod Duke - Briscoe's profit and market cap now both bigger than WHS!
2 notable points :
1.
Kiwis are over cheap rubbish. Perception of the WHS after years of restructuring is that it still sells cheap rubbish.
2. The likes of Amazon, Ebay & Alibaba will impact the most on certain categories like books, clothings, toys etc. WHS is still busy selling these items!
Long road ahead for WHS - it has got plenty of retail space (used to be its claim to fame) but a lot of that space is now used for stocking and selling sunset goods. Meanwhile, lease payments are ballooning higher and higher, one side effect to the sale and leaseback strategy.
PS. Reminder to oneself - NEVER buy into a sustained downtrend!