WHS - Warehouse Group

[peat]

Q3 sales

Quite a few minuses (ie sales going backwards) but all so encouraging and positive.

http://nzx-prod-s7fsd7f98s.s3-websit...835/279025.pdf

Well overall its up 2.6% even if the two Warehouse sectors Red and Blue Sheds sales are down 2.4%, though same store sales were down only about 1%.
Also they must be selling more smaller items as unit sales increased.

Noel Leeming and Torpedo would appear to be saving the day.

Pascoe are increasing their stake which is probably the share price saviour.

Slow turnaround maybe.......

[Ggcc]

http://www.stuff.co.nz/business/1051...s-at-93-stores

Wow just wow. I am glad I am not a shareholder

[winner69]

http://www.stuff.co.nz/business/1051...s-at-93-stores

Wow just wow. I am glad I am not a shareholder

Has to be done to ensure the top management huge bonuses are safe. Weren’t they over 10 million for the top dogs.

Sometimes union guys are quite perspective ......"...... Other retail companies are thriving. It suggests to us that the new company bosses just don't know how to do business in New Zealand. "

[percy]

Has to be done to ensure the top management huge bonuses are safe. Weren’t they over 10 million for the top dogs.

Sometimes union guys are quite perspective ......"...... Other retail companies are thriving. It suggests to us that the new company bosses just don't know how to do business in New Zealand. "

Thriving.?
The odd one.
Unions should check with Mall landlords and find out how many retailers are behind in their rent.
Perhaps a few union people should try owning their own retail business,before they comment?
More competition,higher overheads including wages,and compiance,means more marginal retail businesses will fail.
SCY and WHS are clearly showing distress signals.
Many small retailers hang on because they would not be able to find a job, should they close their store,while their hourly rate would be well below minimum.
Walk down any strip shopping area,and figure it out for yourself.
Rural townships are even more distressed.
Fairlie,Geraldine,Timaru,Temuka,Waimate,Blenheim,W estport and Greymouth come straight to mind.

[winner69]

The perceptive part was that Warehouse top management don’t have any idea who things work in NZ ...unlike HLG, BgR etc

Opportunity / charity shops apparently doing well though...the clothing retailer in Hawera had to close because he couldn’t compete with the three op shops in town.

[percy]

Stephen Tindal came from a retail family.
Tim Glasson came from a retail family.
Have any SCY or WHS managers or directors owned their own store.?
Have any of the Labour members of parliament or unions ever owned their own retail business.?
What is known as the blind leading the blind.
Most of WHS management are from the UK.
Know what I mean like.?

[winner69]

Stephen Tindal came from a retail family.
Tim Glasson came from a retail family.
Have any SCY or WHS managers or directors owned their own store.?
Have any of the Labour members of parliament or unions ever owned their own retail business.?
What is known as the blind leading the blind.
Most of WHS management are from the UK.
Know what I mean like.?

That’s what the union guy was saying

[percy]

That’s what the union guy was saying

So he has owned his own retail store.?

[Ggcc]

So he has owned his own retail store.?

It is difficult in the retail industry, but some of these guys made the warehouse so successful. Maybe thay could take on fewer casual staff instead of culling the long term ones?

[winner69]

So he has owned his own retail store.?

He’s a she .....and apparently once worked for her husband in his store.

Bit of a radical though.....whatever a radical is

Main grudge is these UK/USA execs on million plus salaries not really understanding the Kiwi way

And it seems Tindal is condoning this approach.