WHS - Warehouse Group

[winner (n)]

Day 4. I'd make everyone on more than $100K reapply for their job again and you'd probably find half them are twiddling their thumbs doing very little.

DAY 5. Get rid of all the dead wood on the board.

Very challenging times Basil so be kind and supportive

Joan Withers can stay ....she's pretty good as Chair ...

......and the only one of the board who doesn't seem to buy their clothes at a Red Shed

[Basil]

She probably led the change on extending Nick's employment contract for several more years.  Well and truly past "best before" date in my opinion.

[Waltzing]

NAA - fire the lot and ditch the board.....

shes  a gonna ... sinking ship.. down by the bow... and pumping water.

[Shareguy]

I agree that the future is not bright. Have not been to the warehouse for some time. Was very surprised at new layout and lack of customers in our local store. There was more staff than customers. Across the road at K mart was a very different storey with I would say over 100 customers. Looked well set out and a very different vibe.

I see in FB latest note they have underperform at $1.55

[Basil]

NAA - fire the lot and ditch the board.....

shes  a gonna ... sinking ship.. down by the bow... and pumping water.

Titanic.

[Waltzing]

Actually in some small country towns in the waikato where there is a Red Shed it will still get some shoppers else its a 20 to 50 minute drive to a bigger retailer in central hamilton.

The only other option being M 10 stores....

Traffic volumes yesterday on the expressway south of hamilton looked liked  Auckland at 4,30 PM.

There is a population incease occuring in the central Waikato and often the RED shed and M10 are the only stores for 10 of miles around.
 

[Basil]

Te Kuiti a good case in point.  WHS is the biggest store in town by a country mile!  Yes they will continue to have a presence but bring up a 20 year chart and you'll see they've been in systemic decline for ages and that looks set to continue.

[kiwi2007]

Went to a large Warehouse yesterday for bedding for a spare room. Great value.
However, my better half who is, and always has been, a dedicated clothes buyer heard that they were just sticking the 40% black Friday labels on all clothes. So off she went. Now this is a women who rarely leaves a clothes shop without a purchase   and sometimes bought from The Warehouse in the old days  (7 or 8 years ago). She returned appalled at the state of the design and quality on show. "They really do need a new clothes buyer" she said  "it's got worse and worse recently". And this is from a women who is a successful designer and retailer herself and has a good eye for clothes.
 

[Basil]

The real problem is that nobody with any real skill aspires to work at the Warehouse any more.

[winner (n)]

SML and PEB possibly booted off NZX50 soon

Probably a lucky escape for WHS ...maybe next to go next year

[winner (n)]

Jeez, it's raining so I watching the ASM

What a dismal affair .....even more dismal than the most dismal funeral

[Basil]

Jeez, it's raining so I watching the ASM

What a dismal affair .....even more dismal than the most dismal funeral

Learn anything new from your grueling experience ?

[winner (n)]

Learn anything new from your grueling experience ?

Just confirmed how hopeless Joan and Nick are.

Didn't watch much of theirvp speeches but heck they made of meal of answering questions

Questions were mainly about piss poor customer experiences and standard answer we'll take that on board.

Hell bent on this Market Club thing (not The Market) and poor Nick didn't understand that not every one has a smart phone to down load the app ......and not only oldies

And The Market staying ...when asked when they giving up on it Nick said it's coming right

Desperation crept in at times ....future looks bleak I reckon

[Hectorplains]

Learn anything new from your grueling experience ?

Two hours apparently.  This from Businessdesk raised my eyebrow:

The Warehouse also expects TheMarket loss to be less than $5m in the 2024 financial year – which Grayston said was down from $16m in the first half of the 2023 financial year.  He told BusinessDesk after the meeting that TheMarket wouldn't be getting the Torpedo 7 treatment even if its loss was wider than expected as TheMarket was a "very different scenario". Nor is The Warehouse interested in buying online grocer Supie, which recently went bust.  "We've seen it's a business model that hasn't succeeded," he said.

Nick can't see the glaring contradictions in what he's saying?  I doubt the numbers he's putting forward too.  Temu is absolutely blitzing TheMarket, and it only launched here 8 months ago.  That's before you even consider Wish, AliExpress, Shein et al. 

[Waltzing]

did anyone short this  dxx....