FM - RetailWatch data for December month came out today
Would have to say the numbers are pretty gloomy looking - core sectors down v December 2021 and verall sales only up from travel and entertainment things. Even clothing was down
I did the old comparison to 2019 trick -- even then the % increases are pretty small when you think it's over 3 years
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
FM - RetailWatch data for December month came out today
Would have to say the numbers are pretty gloomy looking - core sectors down v December 2021 and verall sales only up from travel and entertainment things. Even clothing was down
I did the old comparison to 2019 trick -- even then the % increases are pretty small when you think it's over 3 years
Cheers - interesting, but depressing! Looks like Liquor shops would have been the best place to invest !
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"Prediction is very difficult, especially about the future" (Niels Bohr)
FM - RetailWatch data for December month came out today
Would have to say the numbers are pretty gloomy looking - core sectors down v December 2021 and verall sales only up from travel and entertainment things. Even clothing was down
I did the old comparison to 2019 trick -- even then the % increases are pretty small when you think it's over 3 years
Travel and accomm up 100 percent ish, what a leap. I thought that we were all out and about last summer doing the local travel stuff
Warehouse Group proposes cutting 190 jobs in Auckland
The Warehouse Group has confirmed “approximately 190 roles” will be cut across its six retail brands in Auckland in a restructure proposal announced yesterday.
They said these roles are part of their support teams based in Auckland and will not affect retail staff.
The move is a response to “challenging market conditions” forecasted for the year ahead and comes after Stats NZ released inflation figures at their highest in 32 years.
The company released a statement today regarding the restructure:
“Yesterday we shared a proposal with The Warehouse Group team members based at support offices in Auckland, to make some changes to our structure.
There you have it - even a bargain is challenging in the current difficult economic times
Stakeholders will be waiting to see what sort of bargain they get dealt .. if they haven't already exited ..
Warehouse Group proposes cutting 190 jobs in Auckland
There you have it - even a bargain is challenging in the current difficult economic times
Stakeholders will be waiting to see what sort of bargain they get dealt .. if they haven't already exited ..
in the same note
Forsyth Barr analyst Andy Bowley said the impact of Costco was a factor. “It’s just one factor. The macroeconomic environment is the much larger challenge,” Bowley said.
Bowley and colleague Margaret Bei cited weakening consumer demand, margin pressure and continued higher costs of doing business in a January 5 research note. “Christmas sales were below our expectations as revenue fell across all brands (from -1 per cent to -12 per cent) for the second quarter period from November 1 to December 26. “While this is off a strong base, as the comparable prior year period benefitted from post-lockdown pending, the year ahead looks to be increasingly difficult for retailers.”
guess same issue's will become apparent for many retailers as yr goes on
Construction of the Warehouse in Wanaka is well underway - believe the scheduled opening is April sometime. Noel Lemming coming, but have had a Torpedo7 for a long time.
Dunno where they are going to get the X number of staff to run it - I understand Warehouse pay the living wage, but still may struggle for staffing.
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Originally Posted by winner69
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