WHS - Warehouse Group

[jimdog31]

My two cents on a major factor why WHS has had such a strong half (other than the obvious COVID surge) is down to Kmart (in NZ) looks to have completely underestimated the demand post lockdown , their shelves have been empty, and product lines completely disappeared . this is based on frontline observations only as I haven't been able to dive into how Kmart has performed in NZ.

Past period comparatives for WHS have suffered from Kmart beating them up as they grew market share in NZ.

Can anyone please tell me what the $15.8 million dollar loss under "other" is on page 24 of the results presentation? Given thats equivalent to 10% of the H1 operating profit its seems a material number without a clear explanation (that I can see).

[Beagle]

$183.6m in cash and no debt ! My goodness that's 53 cps and no debt and probably about the same very strong cash per share position as one well known other retailer about to announce tomorrow. Both companies probably going to earn similar eps numbers this year as well. Hmmm

[winner69]

Can anyone please tell me what the $15.8 million dollar loss under "other" is on page 24 of the results presentation? Given thats equivalent to 10% of the H1 operating profit its seems a material number without a clear explanation (that I can see).

From the slide -
Other Group operations include a property company, a chocolate factory and the residual cost of unallocated support office functions

Didn't know they own chocolate factory did you?

Bulk of the $15m I'd hazard a guess is the unallocated support office functions

[Beagle]

Quite surprised it didn't go up and and stay above $4 today. Have now had time to thoroughly digest the full presentation and I see significant further streamlining ahead with store within a store rationalizations for many Warehouse Stationary branches and some overall rationalization of the WHS store footprint. Balance sheet is VERY strong and Noel Leeming is pure Gold !!. Do the old "back the cash out of the balance sheet trick" and the forward PE looks profoundly compelling even allowing for some degree of one off Covid boost in the period just reported.

Trades cum a fully imputed 13 cent divvy due very soon too so back that out as a quasi return of fresh capital invested and the metrics look even more profoundly compelling. TA also gives significant encouragement. BUY

[Panda-NZ-]

Didn't know they own chocolate factory did you?

Waikato valley, they make most of their easter eggs they have on display since early march (v.colourful and inexpensive). Better value than cadbury.

The healthy choice is the dark chocolate stuff but keep it out of the way of pets and especially Beagles

[ratkin]

Didn't know they own chocolate factory did you?

They do not own the factory, they just have an exclusivity agreement of some sort. Although maybe they should own it. Would seem pretty shrewd to make their own chocolates, cut out the middle man

https://www.waikatovalleychocolates.co.nz/about/

[Beagle]

Waikato valley, they make most of their easter eggs they have on display since early march (v.colourful and inexpensive). Better value than cadbury.

The healthy choice is the dark chocolate stuff but keep it out of the way of pets and especially Beagles

A good buddy told me today that Countdown have king sized chocolate bars on special this week for the staggeringly good price of just $2.00 each
Surely an offer that tempting and bad for you must be referred to the SPCA

[nztx]

Foodstuffs still own 6% ....holding for a reason?

It's interesting that James Pascoe Ltd (The Normans) - come in at No 3 @ 19.80%

If not mistaken - this is the Long Established Jewellers - who have Whitcoulls & Farmers Trading also owned by their group ..

Share Register looks like it could be getting a bit tighter held -- with Tindall & Foundation interests roughly totalling 50.41%

Foodstuff's chances of advancing beyond 6.0 % may therefore be vastly expensive & problematic - given that their members
may ultimately wind up up pro-rata financing any further attempts more forays into WHS..

It'd difficult to see either Tindall, Foundation or Pascoe interests wanting to sell down to make way for for Foodstuffs ..


A good result sees the remaining loose part of 24% shares or so & SP being shot upwards as all awake to the better fortunes ..

Call it an HLG or BGP tightening Register scenario all over again - as happy campers prevail with fewer & fewer sellers ..

[winner69]

Nztx ...Foodstuffs paid about $5 for their shares

Remember the excitment when they applied to Comm Comm for permission to take over WHS

[Habits]

Nztx ...Foodstuffs paid about $5 for their shares

Remember the excitment when they applied to Comm Comm for permission to take over WHS

I remember it even though I was not a sharemarket investor so it must have been quite big. Warehouse Extra was in competition doing groceries