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  1. #511
    Guru
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    I agree with your comments but WHS beat Farmers on cost (and teh customers followed). You cant beat a supermarket on cost (which is my point) so you have to diffentiate some other way (WHS key differentiator is cost though they have now improve to provide a full product line with three pricing options - they call it good, better, best).

    The threat I see is why cant supermarkets do the hypermarket. They do that over here (UK) where they have three different formats of stores from inner city dairy type, full supermarket, and then hypermarket.

    IMHO WHS should have tried to by repco in NZ rather crazy clints in Australia (ie. tried to get warehouse stationary type growth in the market they know).
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  2. #512
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    Experimental store performs best
    26 November 2005

    Sales at The Warehouse's Waikato "laboratory" store have been the strongest of all 85 Red Sheds since its July 14 opening, chief executive Ian Morrice says.


    He told yesterday's annual meeting in Auckland that the Te Rapa store, which is testing new layouts and a greater range of clothing, entertainment goods, technology products, gardening equipment, consumables and groceries, has been the group's best sales performer.

    In March The Warehouse began a three-year programme to improve store layouts, customer service and products. Aside from Te Rapa, it has opened two further new-format stores, in Palmerston North and Lower Hutt.

    The next will be in Pakuranga, Auckland, in April.

    The Warehouse Stationery business, or Blue Sheds, would benefit from Thursday's sale of the company's loss-making Australian operations, Mr Morrice said, with about $10 million to be invested in the Blue Sheds over the next few years.

    "We think we've got a very good store footprint but can do more to generate more sales per square metre," he said.

    He believed this financial year would see consolidation at the 43 Blue Sheds, but would also see a return to earnings growth. July-year profit fell to $3.9 million from $7 million the previous year.

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  3. #513
    Junior Member onlinesid's Avatar
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    The price dropped again to 3.98

    What is going on with WHS? I can't make sense of it.

    Although, I sold all my WHS on 4.14 (bought them on 3.86) (was a fluke, I needed some money!)

  4. #514
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    A few days since telling the world they sre giving up on Australia and will now concentrate on NZ and still the shareprice languishes (Millers on the other hand went up)

    Obviously Tesco (or was it Walmart) have given up WHS

    Is it that after so many years of hanging in there NZ punters finally officially declared WHS as a dog .... snd not even rsted as a turnaround story

    Afraid Mr Icehot ... that $6 here it comes not looking likely
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  5. #515
    On the doghouse
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    quote:Originally posted by onlinesid

    The price dropped again to 3.98

    What is going on with WHS? I can't make sense of it.

    Although, I sold all my WHS on 4.14 (bought them on 3.86) (was a fluke, I needed some money!)
    Perhaps it is just people digesting what was said at the AGM on Friday? Did anyone go?

    I wouldn't be surprised to see the share price weaken further. WHS at $3.98 certainly isn't cheap. By my reckoning they need to raise underlying profits by 10% next year, to justify even that $3.98 share price. That will be a tough assignment in the current retail environmnet.

    With Australia gone, so is the obvious avenue for growth. Having said all this, I don't regard WHS as being seriously overvalued. But I wouldn't be looking to buy any more shares at today's prices either.

    SNOOPY

    discl: hold WHS, and happy with my underweight position






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  6. #516
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    quote:Originally posted by rmbbrave

    Experimental store performs best
    26 November 2005

    Sales at The Warehouse's Waikato "laboratory" store have been the strongest of all 85 Red Sheds since its July 14 opening, chief executive Ian Morrice says.


    He told yesterday's annual meeting in Auckland that the Te Rapa store, which is testing new layouts and a greater range of clothing, entertainment goods, technology products, gardening equipment, consumables and groceries, has been the group's best sales performer.

    In March The Warehouse began a three-year programme to improve store layouts, customer service and products. Aside from Te Rapa, it has opened two further new-format stores, in Palmerston North and Lower Hutt.
    He should've said also that the "brains" behind the store redesign and new layout are all gone, in the massive management exodus started with Muir.... There is no real strength of management left, especially at the Blue Sheds, and Tindall is just a figurehead at the moment.
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  7. #517
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    Can anyone tell me where the proposed new format store at 'Pakuranga' is being built. Or does this refer to a new Warehouse being built in the the Slyvia Park project now being developed by KIP. Perhaps Pakuranga sounds better than Mt. Wellington.

  8. #518
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    I believe that they are currently renovating their Pakuranga store at Pakuranga Plaza at the moment given all the construction work which is going on there.

    Presumably this is the store which they are referring to.

  9. #519
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    If Tindell sells his stake, the price will jump 20% !
    This stock shines so bright that it \"Bling Blings\"

  10. #520
    Junior Member onlinesid's Avatar
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    Wow, only 3.77 just now!

    What is happening? Now I'm really glad to have sold it.

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