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  1. #6081
    Guru Rawz's Avatar
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    Quote Originally Posted by winner69 View Post
    WHS by far worst performer of main retail stocks on NZX

    Current price off recent highs

    WHS -26%
    BGR -16%
    MHJ -8%
    HLG -15%

    And I thinkWHS has got further to fall
    MHJ still the goods aye Winner. The market loves diamonds

  2. #6082
    Speedy Az winner69's Avatar
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    Quote Originally Posted by Rawz View Post
    MHJ still the goods aye Winner. The market loves diamonds

    MHJ been out of step for a while .... they'll catch up soon .... after next announcement
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  3. #6083
    ShareTrader Legend Beagle's Avatar
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    Quote Originally Posted by winner69 View Post
    WHS by far worst performer of main retail stocks on NZX

    Current price off recent highs

    WHS -26%
    BGR -16%
    MHJ -8%
    HLG -15%

    And I thinkWHS has got further to fall
    How many more years do you think before Nick gives up on the black hole that is themarket.com ?
    Remember how expansion into Australia was going to be all the rage ?
    Remember after that when it was their consumer finance division was going to drive huge profit growth ?
    Both these foray's turned out to be very, very expensive failed experiments.

    Latest experiment has huge potential to eat up vast amounts of money before they give up on that too.
    I think the evidence that despite huge investment in its second year the platform went backwards quite badly is very ominous for the future but pride will prevent him from any near term recognition that this isn't working and they'll keep throwing tens of millions per annum down that rat hole for quite a few more years.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  4. #6084
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    Quote Originally Posted by Beagle View Post
    How many more years do you think before Nick gives up on the black hole that is themarket.com ?
    Remember how expansion into Australia was going to be all the rage ?
    Remember after that when it was their consumer finance division was going to drive huge profit growth ?
    Both these foray's turned out to be very, very expensive failed experiments.

    Latest experiment has huge potential to eat up vast amounts of money before they give up on that too.
    I think the evidence that despite huge investment in its second year the platform went backwards quite badly is very ominous for the future but pride will prevent him from any near term recognition that this isn't working and they'll keep throwing tens of millions per annum down that rat hole for quite a few more years.
    The warehouse is NZs biggest online retailer - it makes sense for them to try and defend that position with new online initiatives.

  5. #6085
    always learning ... BlackPeter's Avatar
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    Quote Originally Posted by Beagle View Post
    How many more years do you think before Nick gives up on the black hole that is themarket.com ?
    Remember how expansion into Australia was going to be all the rage ?
    Remember after that when it was their consumer finance division was going to drive huge profit growth ?
    Both these foray's turned out to be very, very expensive failed experiments.

    Latest experiment has huge potential to eat up vast amounts of money before they give up on that too.
    I think the evidence that despite huge investment in its second year the platform went backwards quite badly is very ominous for the future but pride will prevent him from any near term recognition that this isn't working and they'll keep throwing tens of millions per annum down that rat hole for quite a few more years.
    Hmm - you are writing this as if you know the business better than they do. Are there any new stats you have seen confirming your claims?

    As a customer I must say I am using "the market" over the last 3 to 4 months much more frequently than I used to ... and so far I found the delivery prompt and the products as per description - and I am not referring to products just channelled through from the red sheds.

    Saves me a lot of driving into town. I like to avoid driving into town these days ...

    They sell as well a lot of stuff from smaller companies I otherwise would have ignored on the internet ... including some overseas shops. Again - the service works, if there are any issues (I didn't had any, but you never know ...), you are dealing with a NZ company and I find delivery quite fast. Sometimes it is order today, get your stuff tomorrow, and in most cases it was less than one week for delivery.

    Maybe we should give them a chance before we get used to the trashing ...
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  6. #6086
    ShareTrader Legend Beagle's Avatar
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    I posted an analysis of first and second year performance of themarket.com a while back, both heavy top line sales decline and poor acceleration of losses in its second full year of operations to FY21. What is damming is that performance in its first year FY20 was for much of that year without Covid so you would expect that with all of FY21 being impacted by Covid and the well known very strong growth in online sales, top line growth in the market would have been very strong in FY21 not the exact opposite, going backwards quickly.

    There will be no new confirming date until the release of their half year results.

    All I can say is that every other retailer out there has posted exceptionally strong growth in online sales in FY21 and yet WHS did the exact opposite and the market.com showed very strong sales decline in FY21. These are annual total sales and losses facts mate, not anecdotal personal evidence from one user.

    Surely any reasonable person would be seriously concerned by the market going backwards when every other retailer is enjoying strong growth ?

    We're not talking about chump change here either.. the market.com burned through over $20m of losses in FY21 ! That's a pretty sizeable gamble on a strategy that currently isn't working and going backwards in my books.

    Yet Nick commented recently that he's ostensibly doubling down on his metaverse strategy. Hmmm...the size of the gamble looks reckless to me but I guess that's what you would expect from a company that threw away $60m+ paying back a wage subsidy just to kowtow to the Govt and appear to be good from an ESG perspective.

    Nick appears to have total myopic vision when it comes to his obsession with all things ESG, (how did that work out for Synlait ),and all things metaverse...that's how I'm calling it. If I'm wrong so be it but I seem to be doing okay so far having sold him my shares at $4.10
    Last edited by Beagle; 27-01-2022 at 11:19 AM.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  7. #6087
    Speedy Az winner69's Avatar
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    I think Nick is the only person who actually knows what TheMarket.com turnover actually is. Surely its more the $4.7m (taking out 1-day sales) as shown in the AR

    Their reporting of such things is far from transparent

    The revenue figure attributed to TheMarket in the AR i gather is their cut on sales sourced from external brands and then report 1-day sales.

    I gather that TheMarket and TWG online sales share the same IT platform .....maybe it is a very expensive platform for what it does

    From their AR and Presentations numbers shown below .... make what you want of them

    LEK will remind us that $393m of online sales makes TWG NZ's biggest online retailer in value .... probably correct ....but others would point out that 11% of total sales being online isn't that great compared to other retailers
    Attached Images Attached Images
    Last edited by winner69; 27-01-2022 at 12:02 PM.
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  8. #6088
    always learning ... BlackPeter's Avatar
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    @beagle ...

    Fair enough ... I guess time will tell.

    I do see that the introduction and improvement of the market does cost money ... I think they call this an investment. Just noted that their service and offer actually did improve as well. Whether this is just my impression, the coming financials will tell.

    No doubt - the investment into the market is not cheap, and the website is not yet perfect. Compared to the HLG website (which clearly offers much more sexy and colourful pictures) do they appear quite grey and boring.

    On the other hand ... it might be not be just me with a limited demand for buying minute bikinis ; So much more useful stuff on the market ...

    Anyway - Just had a look how bad the WHS share price really did over the last 2 years: You are right - it went up only a measly 15% (the blue line in the chart below), while HLG rocketed in the same time frame up by 7.5% (the orange line). Dividend yield for both companies (at current SP and this years dividends) is not bad (HLG 7.2%, though WHS @ 8.4% is better ;

    WHS-HLG - Copy.JPG

    Sorry - I could not resist ...
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    "Prediction is very difficult, especially about the future" (Niels Bohr)

  9. #6089
    Guru Rawz's Avatar
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    Kogan market place going pretty good. They know how to run an online marketplace unlike WHS?

    ● Kogan Marketplace continued its rapid scaling, achieving more than $200million ($221.1 million) in Gross Sales in the half for the first time ever, up 28.7%YoY.

    Time WHS follows Beagles advice and give up on it

  10. #6090
    always learning ... BlackPeter's Avatar
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    Quote Originally Posted by Rawz View Post
    Kogan market place going pretty good. They know how to run an online marketplace unlike WHS?

    ● Kogan Marketplace continued its rapid scaling, achieving more than $200million ($221.1 million) in Gross Sales in the half for the first time ever, up 28.7%YoY.

    Time WHS follows Beagles advice and give up on it
    Not quite sure the market agrees with your statement (if we take a 2 year horizon - about the time the WHS market exists):

    WHS-KGN - Copy.JPG

    I must however admit that the ride using using KGN (yes, the orange line) looks much more exciting - sheesh - all this adrenalin .... looks a bit like bungee jumping!

    Both companies are building up a virtual market place ... and Kogan clearly created much more hype - followed by much more disappointment. Is this really better?
    ----
    "Prediction is very difficult, especially about the future" (Niels Bohr)

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