WHS - Warehouse Group

[bull....]

Kmart also went online few days ago

http://www.nzherald.co.nz/business/n...ectid=11865927

smarter looking stores with similar pricing to warehouse ramping up the competition ahead of amazon i reckon

[Ogg]

Top story on NZherald

Will this be the death of shopping centres as we know it

http://www.nzherald.co.nz/business/n...ectid=11867253

[bull....]

Top story on NZherald

Will this be the death of shopping centres as we know it

http://www.nzherald.co.nz/business/n...ectid=11867253

oh no and foot traffic for the warehouse

[Meextr]

That's what I thought about the foot traffic to the warehouse. They are the NZ masters of the big shed sellers.

[bull....]

noel leeming staff are getting first hand training in pc gaming - better able to sell pc's for gaming from this i gather

[BlackPeter]

A dying fridge is one of these things you can't ignore for long, meaning I spent yesterday evening fridgehunting on the web. Warehouse had nothing suitable (neither the brands nor the size I was looking for), Noel Leemings only had an inferior model (based on the recent Consumer report) and that too dear. I was surprised that Smiths City had the best offer (exactly the size we need, good brand and model and reasonable price) - they got the deal and just confirmed delivery for next Tuesday (Given the holiday I was sort of resigned in waiting up to another week). Not too bad given that we live somewhat on the country side ...

Maybe I should research their shares

[bottomfeeder]

I think it is true, Malls have traditionally charged very high rents and OPEX. The individual shops, just cannot make ends meet with the premises costs and the flight of shoppers to the Big Box stores and online. I have some experience with several mall type operations and tenants just are not renewing leases or getting the landlord to reduce the rents. Landlords are accepting it because without the tenant, they still have to pay rates and opex. Just what does this mean. I think some smaller stores will continue, but the landlord will have to drop rents. Similarly with the Warehouse. Once their lease comes up and they threaten to leave, they are in such a good position to get a rent reduction. So its not all doom and gloom for the Warehouse. They have still a lot of ability to reduce costs. I think there is far worse investments than the WHS. Being a commercial landlord for instance.

[Snoopy]

A dying fridge is one of these things you can't ignore for long, meaning I spent yesterday evening fridgehunting on the web. Warehouse had nothing suitable (neither the brands nor the size I was looking for), Noel Leemings only had an inferior model (based on the recent Consumer report) and that too dear. I was surprised that Smiths City had the best offer (exactly the size we need, good brand and model and reasonable price) - they got the deal and just confirmed delivery for next Tuesday (Given the holiday I was sort of resigned in waiting up to another week). Not too bad given that we live somewhat on the country side ...

Maybe I should research their shares

'Snap' BP.

My fridge died at the beginning of the year. However rather than 'panic' and buy the wrong kind, just because I needed one, I decided to rent for three months. Well, I decided to rent, and three months was the miniumum contract time! A nice Mitsubishi fridge arrived within the day, so none of the items that were in my old fridge spoiled. I figured that the cost of my rental was paid for by the food I saved from spoiling, and the pressure was off for buying my new one. But the hunt for my own new fridge was on! I was keen to find out more about the new generation of low energy 'eco fridges', the best of which looked to be a couple of Korean brands.

I had a good look at Harvey Norman Addington, and perused the 'soiled stock' (soiling meaning a dent in the cabinet that could not be seen once the said fridge was tucked into my kitchen wall space). That dent would have saved me a few hundred bucks. Good selection of brands and sizes. But I kept looking, as salesperson didn't seem particularly 'fridge knowledgable'. Next I went to 'Smiths City'. Yes they had the fridge I was interested in. But a check on their computer stock list revealed it was out at their Northwood Centre. So I said thanks and went there. Salesman very helpful and pricing OK, but I decided I needed to go home and double check the size of my 'hole in the wall'. Darn it! The fridges I was looking at were millimetres too tall or too wide! So came to the conclusion the trusty old F&P fridge would give me maximum fridge space for my 'hole in the wall'.

Had a look at my new target fridge in Farmers Riccarton. Shop soiled again, but with a couple of hundred bucks off to allow for a non pristine purchase. Had a look at Noel Leemings in Riccarton. They had just the fridge I was after and it was reduced, but again shop soiled. Staff not that attentive. At this stage I had decided on the basic fridge but hadn't decided on the door design or finish. Went to Noel Leemings again, but this time the Papanui branch. There I struck gold. An older salesman who really knew his stuff. He was able to walk me through the F&P catalogue and explain to me the different features of what looked on the surface to be identical fridges. Yes the special price was still on and yes they had one brand new fridge of exactly the kind I wanted coming into the Rolleston distribution centre the next day. Would I like it? So I signed up. I was able to get the old fridge away too, when the new one arrived. So overall couldn't be happier. Great mint condition fridge, great service, great price (about $500 off retail, even though we all know that no-one ever pays that). Delivery people gave me the quick guide to the fridge features once it was running too.

Well done Noel Leemings Papanui!

SNOOPY

discl: do not hold WHS shares , but maybe I need to look again while they are still 'on sale'?

[JeremyALD]

I can't see what will turn sentiment on this one for a while. Clearly their finance business is doing poorly and sales and margins are pretty flat. What will get people's confidence back in WHS in the short term?

[winner69]

I can't see what will turn sentiment on this one for a while. Clearly their finance business is doing poorly and sales and margins are pretty flat. What will get people's confidence back in WHS in the short term?

Nothing will I reckon - will hold up if they maintain divie at current levels (by selling properties)

What you reckon could get people's confidence back (assuming there once was some)