WHS - Warehouse Group

[silverblizzard888]

I was surprised as were many others when the Warehouse claimed that they were essential. I would go further and say WTF were they thinking to make this announcement. This will do the warehouse irreparable damage in the minds of the public. All the other small businesses , man (or woman) and dog outfits cease trading but no not the Warehouse.
This is another example of poor quality of management and boards in NZ companies. I think shareholders need to wake up to the incompetence of the people that make key decisions in the companies that we invest in.

It does speak of a management team that does it first, then thinks about it later. Surely they could have clarified with the Governement first, this isn't your local corner dairy and each decision they make affects a lot of people.

[winner69]

Nothing surprises you when a pommie whose main experience is time spent the US ends up running a relatively little company in New Zealand ...they just don’t get it.

[mikeybycrikey]

Their website STILL says they will remain open and that you can buy online. That is a bit negligent at this stage if not confirmed

If you look now, the website does seem to full of food and other grocery items. I have seen food in there but it wouldn't usually be a place I would go to buy food.

I'm sure they do provide a useful service, although after seeing their poor PR performance today and their ads on TV, I wonder if it's possible for them to create a PR disaster by not reading the public mood and being proudly open when maybe they shouldn't be.

Maybe it's only the Twitterati on change.org who are against the Warehouse opening, but getting the PR wrong around a pandemic could be costly.

[Cadalac123]

Should have short term traded this for the 40% gain..

[Bobdn]

Warehouse has to close

https://www.stuff.co.nz/national/health/coronavirus/120512184/coronavirus-what-stores-and-services-are-still-open-during-lockdown

[Tomtom]

Warehouse has to close

https://www.stuff.co.nz/national/health/coronavirus/120512184/coronavirus-what-stores-and-services-are-still-open-during-lockdown

Better get moving that Easter stock.

[JeremyALD]

This is a PR disaster. More than 50k new zealanders signed a petition for them to close and their Facebook page has been overwhelmed with backlash.

Making an announcement to the NZX is a big deal. Did they not think Kmart, Farmers and Briscoes would have something to say, as well as the public?

[frostyboy]

I guess management got way to greedy in what they could sell. They could have done something on smaller scale with some isolation measures. Maybe that was indicatively approved by government or they sneakily could have done it.

At 1.30pm I was quick to find out CMC markets don't allow short selling of whs.nzx

[silverblizzard888]

Big race for shareholders tomorrow to see who can get out first, at least staying inside isn't so boring now.

[Hoop]

Big race for shareholders tomorrow to see who can get out first, at least staying inside isn't so boring now.

Hmmm...Lesson learn't? I doubt it....A bear market cycle is operating with the usual sudden temper tantrums...Investors new to the Bear Market have to remember you may be rational and logical but the bear market environment is irrational and illogical punctuated by brief periods of sanity (bear trap).
There wasn't much sanity Tuesday with WHS was there..