WHS - Warehouse Group

[winner69]

discl: have been accumulating over the last few months ... ... Adding to the stake I bought about two years ago and sold some down when stops fired. ... Be quick Percy me ol' mate. ... PE ratio should be circa 10-15 and not sub 10!

If you back out the $77m of gains made on on property sales last year PE is 15.5 last years normalised (trading) earnings. The 7.87 quoted in most places not really right is it Belg

Chairman did say he expected FY14 NPAT to be higher than FY13 ....that's good

[winner69]

This one? http://www.youtube.com/watch?v=aSzTmYAB-bo ... Inspirational!

One hopes that The Warehouse will allow Torpedo to continue to do their own thing and not try to 'corporatise' it

[NZSilver]

If you back out the $77m of gains made on on property sales last year PE is 15.5 last years normalised (trading) earnings. The 7.87 quoted in most places not really right is it Belg

Chairman did say he expected FY14 NPAT to be higher than FY13 ....that's good

Cheers winner, I thought something was a bit fishy when comparing to other retailers P/E ratios.

[winner69]

That sub 10 is my number based upon what I expect this year and does exclude abnormals. ... Maybe I'm being too optimistic??? But maybe I'm not ...

So npat in excess of $120m. Even with a few months extra of Noel leeming and the new stuff a lot higher than the $70m plus a bit in 2013. Record over last 5 years is $85m

Q1 revenues up but 'this has not translated into higher margins' or something that

You could just be right .....might jump n the ship ...maybe not just yet

[kiwitrev]

All good constructive posts today, but for me what is encouraging is the discussions from new posters to this thread (at least in the past year) Stoploss, Harvey Specter, Belgarion and NZ Silver. I interpret this as renewed interest in WHS.

[Harvey Specter]

I interpret this as renewed interest in WHS.

Yes. Still not invested but considering it as an option for the yeild part of the portfolio. I like that the recent acquisitions should help with future growth, especially the online ones. As well as NL and T7, they also went in with Shane Bradley on his latest online store didn't they.

[ratkin]

Slightly off topic .

Today while walking through Barrington park i spotted a woman with two young kids running through the park , she was shouting at them to hurry up. They were being chased by a man.
Turned out he was a store detective/Security guy from the warehouse , and the woman had stolen some shoes for the kiddies.

[Harvey Specter]

Slightly off topic .

Today while walking through Barrington park i spotted a woman with two young kids running through the park , she was shouting at them to hurry up. They were being chased by a man.
Turned out he was a store detective/Security guy from the warehouse , and the woman had stolen some shoes for the kiddies.

Shocking - if you are going to steal shoes, at least steal some expensive ones!

[winner69]

npat before abnormals I take it was what you meant ...Wasn't it closer to 90m? Anyway ...

They've done this before and about the same point in the economic cycle ... circa 2005/6? Hot run of things running in their favour (and other retailer's) and similar now. They've been doing some good stuff behind the scenes with suppliers and their supply chain too. Big jump in operating revenue last year absorbing acquisitions but margins fell (probably due to distraction). This year margins should return to longer run averages and therefore about 2-4% better than last year.

So 90m to 120m plus may not be as outrageous as it sounds.

Before I get too carried away ... Hoop et al, the flat spot from July 2013 till now, is it accumulation or distribution?

edited: looks like slight distribution?
edited2: Nope. Think that's accumulation now. (Help!)

OBV steadily rising from Sept from ft.com charts ......that's accusation isn't it?

[ratkin]

Shocking - if you are going to steal shoes, at least steal some expensive ones!

From what i can gather , the warehouse is the shoplifters first target, seen as easy. Judging by the look of mny of their customers you have to wonder just how much stuff is actually lifted