WHS - Warehouse Group

[winner (n)]

Noel Leeming sales Feb/April DOWN 3.4% on pcp ......compared to JB HiFi UP 10.8%

Not exactly same three month periods but jeez big difference

Get your act together Noel Leeming

[Waltzing]

NO (lemmings) Please ! 

close enough is good enough...

[Basil]

Not a disaster, No, but its unlikely to move the needle with analysts' estimates and at 18.1 times current year earnings and analysts already baking in a strong recovery in earnings in FY24, (which may or may not happen), to trade at 12 times FY24 earnings, an egregiously overpaid CEO and senior management team with highly questionable "The Market" strategies going forward and a board obsessed with all things ESG, I am happy for others to buy this if they think at the WHS they are getting a bargain. https://www.marketscreener.com/quote/stock/THE-WAREHOUSE-GROUP-LIMIT-6491364/financials/

[Onemootpoint]

Cost of living: The Warehouse expands fresh produce trial to five new locations

https://www.nzherald.co.nz/business/cost-of-living-the-warehouse-expands-fresh-produce-trial-to-five-new-locations/5CM65LLQMZBNXA3DYC7C6HVBCQ/

".... the trial received 'very strong response from customers'."

[entrep]

Kmart and TheMarket are the 2 biggest risks to WHS as I see it.

Kill TheMarket.

Figure out how to compete vs Kmart

[winner (n)]

This won't help WHS growth aspirations. Noel Leeming been losing share the last year or so without this.

JB-Hifi eyes significant growth in New Zealand market

JB-Hifi is gearing up again to push heavily into the New Zealand market after a long dormant period.   

The entertainment, electronics, and homewares retailer has planned to open 38 new stores in five years across the country, starting with a store in Hamilton at the end of this week. 

The new store will be relocated from central Hamilton to the shopping precinct on the edge of the city, Te Awa, also known as The Base.

https://www.nbr.co.nz/retail/jb-hifi-eyes-significant-growth-in-new-zealand-market/

[Basil]

Interesting case study in what a good leader can do.  JB poached, (or he jumped), the top guy from Noel Leeming and despite headwinds in the sector and constant store numbers, JB's profits went up and NL profits went down.  Now JB's directors have the confidence for a major store expansion program despite continuing sector headwinds.

[Jay]

Could it be the latest "fad" in vinyl albums, not cheap and I'm sure they are not that expensive to make,even with limited manufacturers,  must be helping their bottom line!

[winner (n)]

Punters starting to give WHS some love again

Up 15% from recent lows ...may even go back to 2 bucks

Bit of a wait for next update

[winner (n)]

This'll save a few bob

Declining number of shoppers so 3 stores to close and 90 jobs

Will help the bottom line .....and maybe speed up the path to ultimate demise?

https://www.stuff.co.nz/business/better-business/300933896/the-warehouse-looks-to-close-three-christchurch-stores

[Onemootpoint]

It should cut some costs.

I wonder though whether the closing of those 3 stores are "....because of a decline in customers."
in that particular centre; or
overall; or
a combination of both.

Either way I would prefer the company to improve rather than find their demise, 

[Waltzing]

Its the last resort when you start the panic to close stores...

[Hectorplains]

Full year tomorrow. They didn't provided any guidance so they'll not be wrong... on that.  However; I think more stink is on the way.  SP has been range bound in $1.6- 1.7, can't see that lasting either.   

[winner (n)]

Adjusted Profit marginally better than covid hit year F20 but putting that aside worst year in last 15 if not this century

Well done Nick and team

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/WHS/419007/403923.pdf

[winner (n)]

WHS sales 4 times Briscoes sales

WHS profit less than ALF Briscoes