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  1. #2961
    Speedy Az winner69's Avatar
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    Most thngs heading in the right direction with Warehouse Group

    Nick just can’t stop using buzz words can he.

    http://nzx-prod-s7fsd7f98s.s3-websit...105/296948.pdf
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  2. #2962
    ShareTrader Legend Beagle's Avatar
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    Looks okay. I continue to prefer HLG.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  3. #2963
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    A change coming for those with Warehouse Money cards. It goes from being a free credit card with a 5% discount at The Warehouse to have a annual charge of $55 plus a very high interest charge. Not a high annual charge for a credit card but no point retaining unless you spend at least $1,100 per annum and pay off your bill each month (no discount with any other part of The warehouse Group). Mine goes back next month and will visit The Warehouse even less frequently.

    We hope you’re still enjoying your 5% discount every time you shop at The Warehouse.

    We're making some important changes to the rates and fees that apply to your Warehouse Money Visa Card but don’t worry you’ll still enjoy 5% discount when you shop at The Warehouse. These changes will be effective from 1 April 2019.

    We're introducing some new fees and changing the interest rates that will apply to your Warehouse Money Visa Card. A summary of the new rates and amended fees is set out below and the new Credit Card Rates and Fees Table are available on our website or alternatively you can call us on 0800 801 808 and we can post or email a copy out to you.

    Changes to the rates and fees applying to your Warehouse Money Visa Card at a glance.

    Amendment
    From 1 April 2019
    Purchase interest rate: 22.90%
    Cash advance interest rate: 25.90%
    Annual fee: $55
    Paper statement fee: $1 per statement (online statements are free)

  4. #2964
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    Jul 2017
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    That's good news in the end, we use this credit card only because of the extra discount at the Warehouse. $55 annual fee would have seen us discontinue the card but I guess we will be keeping it now that they won't be charging annual fees.

    10% extra discount for the comms error, wonder how much it is going to cost WHS


    On Friday 22 March, we notified you about the upcoming changes to your Warehouse Money Visa Card. The changes communicated included an increase to the purchase and cash advance interest rate, as well as being charged an annual fee on your account anniversary.Whilst this is true for our other product on offer, this change wasn’t intended for the Warehouse Money Visa Card and was sent to you in error.Please accept our sincere apologies for the confusion and any inconvenience we may have caused. To confirm, below are the interest rate applicable to your account as they have always been.
    The Credit Card Rates and Fees Table is also available at warehousemoney.co.nz/cards/card-terms-fees.In addition, we would like to extend our apologies by offering you 10%* off from the 1st April to 10th April 2019 instore and online, when you use your Warehouse Money Visa Card.

  5. #2965
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    Quote Originally Posted by Gill View Post
    That's good news in the end, we use this credit card only because of the extra discount at the Warehouse. $55 annual fee would have seen us discontinue the card but I guess we will be keeping it now that they won't be charging annual fees.

    10% extra discount for the comms error, wonder how much it is going to cost WHS
    Same reason why we have it too. I was going to get rid it but I'll be keeping it now.

  6. #2966
    Speedy Az winner69's Avatar
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    WHS being talked up (or is ramping) on another forum

    Seen as doing well now they doing sensible things and punters like the pretty high yield they see as sustainable

    As the old saying going where there’s smoke there’s fire .....WHS the bolter this year
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  7. #2967
    percy
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    Take care.
    Net margin [net profit/revenue] is currently 1.9% although it is projected to rise to 2.2%.
    This is extremely low.
    HLG's is 10% and LOV's is 16%.

  8. #2968
    ShareTrader Legend Beagle's Avatar
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    I have tried to like the Warehouse...one of the few places that sells big men's casual clothing are a cheap price but my sense is it is a very mature business and has been subjected to many stuff-up's in strategy over the years. There is no prospect whatsoever of expansion in Australia and the NZ market is saturated to death.
    They might be able to eek out some efficiency gains and margin expansion but a growth stock this certainly isn't.
    On the other hand for cheaper metrics one can own HLG which is knocking the ball out of the park in terms of online growth and has excellent expansion prospects with its Glassons stores in the very large Australian market. I see no need to hold a diversified spread of retailers just for the sake of diversification when one clearly has both better prospects and metrics than the other.
    Last edited by Beagle; 14-04-2019 at 02:02 PM.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  9. #2969
    percy
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    Always keep in mind a weaker NZ $ works against our retailers.

  10. #2970
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    I just don't see WHS being able to earn back any status they had unless they somehow increase margins in a small market or make risky acquisitions in spaces they aren't comfortable doing. There's also always the threat of a larger player coming here and eating your lunch (Chemist Warehouse the last one to do so) which is easier now with the online shopping model.

    Grow that online digital footprint, it really is the way to go. I've started myself realising every year I'm buying more online but keep looking over your shoulder, once that competition comes you're little fish.

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