WHS - Warehouse Group

[peat]

wow, was that article Beagle linked to written by Sylvester Cat. Awesome, well done , great article.

It does confirm the headwinds that the sector faces are likely permanent and the ongoing risk TWG faces is whether they can adapt or not so the bet is really whether management can keep up with that, and keep costs down.
There is good support under $2 of course so barring end of the world stuff there is little downside. Still worried about the real bite of the downturn though, and I have a couple of retail stocks already, so a bit meh about the whorehouse as I call it, for my portfolio.

[Beagle]

Our resident cat is turning into quite an accomplished business journalist. I think he's a little too down-beat on WHS though. 3 year pattern of really good support at $2 and 5 year pattern of a minimum of 16 cps in annual fully imputed dividends.

[winner69]

Our resident cat is turning into quite an accomplished business journalist. I think he's a little too down-beat on WHS though. 3 year pattern of really good support at $2 and 5 year pattern of a minimum of 16 cps in annual fully imputed dividends.

Yes Oliver good at writing aimed at the general public rather than real investors. NZ Herald graphics could improve his charts though.

Oliver talked about the groups ‘share of wallet’

If he had delved deeper he would have concluded that the Red Sheds have become less relevant to kiwis over the years. Red Sheds share of wallet has steadily declined for 15 years and even online doesn’t seem to be relevant like in half year report online sales were down 10% in Red Sheds. Their battle to remain viable continues as NZers spend less of their money in the Red Sheds

Noel Leeming and Torpedo at least have some hope.

[percy]

I think investors would have seen his article was spot on.
As you pointed out the Red Sheds have become less relevant,so as his article's focus was they must "cut one's coat to suit one's cloth."
Any serious investor in retail would have seen the big red flag "17% of revenue for staff wages and salaries",yet he was the only person on this thread to seen it.

[winner69]

I think investors would have seen his article was spot on.
As you pointed out the Red Sheds have become less relevant,so as his article's focus was they must "cut one's coat to suit one's cloth."
Any serious investor in retail would have seen the big red flag "17% of revenue for staff wages and salaries",yet he was the only person on this thread to seen it.

A lot of that 17% is Nick and his off siders.

Nick gets about 40 times the median wage of all employers.

At least WHS don’t have Vice Presidents (recall our previous discussions about them) but they seem have quite a few General Managers or the like.

[percy]

A lot of that 17% is Nick and his off siders.

Nick gets about 40 times the median wage of all employers.

At least WHS don’t have Vice Presidents (recall our previous discussions about them) but they seem have quite a few General Managers or the like.

Whether it is Nick or who ever, it is out of control.
It is not sustainable.

Just a guess,but I would think some of those sale lease back deals, will now be proven to have been on too generous terms.Which means either leases are either renegotiated or not renewed.

[Sideshow Bob]

A lot of that 17% is Nick and his off siders.

Over 600 on over $100k at WHS

You'd have to think Rod wouldn't have such a hierarchy.

[percy]

Over 600 on over $100k at WHS

You'd have to think Rod wouldn't have such a hierarchy.

That's incredible.

[Zaphod]

I think investors would have seen his article was spot on.
As you pointed out the Red Sheds have become less relevant,so as his article's focus was they must "cut one's coat to suit one's cloth."
Any serious investor in retail would have seen the big red flag "17% of revenue for staff wages and salaries",yet he was the only person on this thread to seen it.

Taking into account ancillary staffing costs, that percentage is likely much larger.

Staff can be difficult at the best of times and are increasing litigious.

[Sideshow Bob]

That's incredible.

Just had a look, Rod has 67. Much smaller company and WHS has various brands under its umbrella, but still....