WHS - Warehouse Group

[Auto Rower]

I am happy that you like to visit MITRE ten for a shopping experience as many do ,it is a good solid kiwi business as opposed to the damn aussies that I prefer bunnings .
You definitely shop at a different miter ten than me ,as all the m 10s I go in are full of failed retail workers that cannot get a job elsewhere ( some good friend's ) whom have very little idea whatsoever & give advice that is legally & factually incorrect, they are friendly and lots of them willing to talk all day on subjects they should not because of their lack of knowledge or understanding.
 A very friendly shop with lots of six inch /150mm nails that are not of much use .
Enjoy m 10 but i will stick with Bunnings both for price & range of products staff and sausage sizzles same everywhere imho


 

[LaserEyeKiwi]

A book about 'the rise and fall of the Warehouse' would make for good reading....by say some NBR jurno or Jenny Ruth. Plenty of material there. I'd give it a read.

Here's the story of The Warehouse Group over last 20 years:

Revenue:

Year   Total   Red Sheds Stationery   Noelleeming Torpedo7
2025   $3.09b   $1.80b   $226.0m   $1.00b   Sold
2024   $3.00b   $1.80b   $231.9m   $1.00b   (Sold Mar '24)
2023   $3.40b   $1.90b   $249.0m   $1.10b   $162.2m
2022   $3.29b   $1.73b   $249.7m   $1.10b   $171.5m
2021   $3.41b   $1.78b   $275.0m   $1.13b   $158.7m
2020   $3.20b   $1.68b   $269.0m   $1.00b   $150.0m
2019   $3.07b   $1.70b   $268.6m   $924.0m   $172.0m
2018   $2.99b   $1.70b   $263.8m   $880.5m   $163.4m
2017   $2.98b   $1.70b   $278.0m   $810.0m   $157.8m
2016   $2.92b   $1.70b   $260.0m   $750.0m   $145.0m
2015   $2.77b   $1.70b   $256.0m   $741.9m   $132.0m
2014   $2.65b   $1.67b   $250.6m   $620.5m   $107.7m
2013   $2.24b   $1.59b   $231.8m   $390.7m*   N/A
2012   $1.73b   $1.54b   $200.0m   N/A   N/A
2011   $1.67b   $1.49b   $195.0m   N/A   N/A
2010   $1.48b   $1.48b   $190.0m   N/A   N/A
2009   $1.53b   $1.53b   ~$180m   N/A   N/A
2008   $1.74b   $1.49b   ~$190m   N/A   N/A
2007   $1.76b   $1.53b   ~$180m   N/A   N/A
2006   $1.72b   $1.50b   ~$190m   N/A   N/A

[winner (n)]

LEK - what's the Red Sheds CAGR over that time frame

[LaserEyeKiwi]

It might have been the most expensive baby photo ever seen in New Zealand.

The Warehouse could face a fine in the millions of dollars after selling thousands of potentially dangerous toy cars.

But the retailer today said no actual harm resulted from the Roo Crew take-apart vehicle saga, which stemmed from a baby used to promote toys that were supposedly off-limits to infants.

The Commerce Commission last year charged The Warehouse Limited with Fair Trading Act breaches and said the toys posed a choking hazard to children under 3.

The regulator's lawyer Jacob Barry told the Auckland District Court the case exposed a flaw in The Warehouse's quality assurance systems.

"We've got frankly one of the largest toy retailers in the country that sold more than 12,000 potentially dangerous products into the market over a period of two years, all because of an error of judgment."

He queried how contrite the retailer really was.

"In many respects, The Warehouse doesn't think it's done much wrong at all."





lol - WHS the gift that keeps giving 🤔

However as I am now a new shareholder I should 🤫

At least they weren't selling asbestos play sand like Kmart

[LaserEyeKiwi]

LEK - what's the Red Sheds CAGR over that time frame

Pitiful I'm sure. Well under inflation. At least it went up I suppose.

[winner (n)]

Pitiful I'm sure. Well under inflation. At least it went up I suppose.

Red Sheds since 2004


Grown sales at 1.0% pa
Core Retail Sales in NZ have grown by 4.5% pa
Halved their market share from 3.8% to 1.9% of core retail

[LaserEyeKiwi]

Red Sheds since 2004


Grown sales at 1.0% pa
Core Retail Sales in NZ have grown by 4.5% pa
Halved their market share from 3.8% to 1.9% of core retail

Where are you getting your figures from for core retail growth? Can you share that data?

[winner (n)]

Where are you getting your figures from for core retail growth? Can you share that data?

Stats NZ Retail Trade data

Yeah you'll say Red Sheds not in every category but if nothing else its a good indicators of where overall retail sales have done over the years

[LaserEyeKiwi]

Stats NZ Retail Trade data

Yeah you'll say Red Sheds not in every category but if nothing else its a good indicators of where overall retail sales have done over the years

Ah sorry yes -  I saw the stats NZ figure and that didn't track with your 1.9% figure, but I failed to notice you were talking about red sheds alone.

WHS continues to state they have ~15% retail share, but not sure exactly what they are excluding there (obviously Hospo and fuel/motor vehicles etc, not sure if they including grocery though)   

[winner (n)]

They used to use Retailwatch data from Datamine. Selected the categories they were competing in to come up with a share estimate.

Then they used dotlovesdata which is owned/controlled by ANZ. Possibly use that ANZ data you noticed that jewellery sales were up 11%.

I note WHS didn't mention market share ..must have declined lol

Ex Wgtn Mayor Justin Lester works for Dotlovesdata ...next time I se him I will ask how it works.

 

[LaserEyeKiwi]

FYI - WHS AGM will be livestreamed today at 10am:

https://meetings.mpms.mufg.com/agm/whs25/register

[Basil]

Hope some shareholders give this woke board a good grilling.

[LaserEyeKiwi]

I didn't get the chance to take notes on the Q&A, but I have to say I very much appreciated the new CEO's answers. They were sharp, to the point, and provided some good details. Happy to see Joan go as chairmen.

[Crackity]

It's about 27% of our business at the moment, so it is an important category. It's probably the fastest-growing, but we're not native grocers. Part of it is that we're learning how to be a grocer."

He said the business was reviewing the category, but couldn't make any public comments on it yet.

"It's a difficult subject because I know how sensitive it is for everyone. Everyone wants the duopoly to go down and for us to win, but there's also things that we've got to strengthen and be good at in order to effectively win and compete."



WHS today - come on in Aldi or Lidl - the water is fine - competitors either have no clue or or milking it or both

[winner (n)]

Cool piece in BusinessDesk today.

Suppose some would say Simon is clueless when it comes to WHS

Never mind

Anyway, piece starts -

"This is the end ... " was the opening line to track 11 (the last song – side B) of The Doors' first album, The Doors, released Jan 4, 1967.

"This is the end, beautiful friend. This is the end, my only friend, the end".

The song is 11 minutes 41s of depression. Not wanting to set your Saturday morning off on the wrong foot, but it's good prep work and background music for the story below.

I read the lyrics and they are wild – the stuff about the mother and the father won't get past Victoria (my editor), so I will leave that for you and your choice of large language models to inquire.

The Warehouse - What an absolute shit show. The only thing this stock has consistently delivered on is trading at life lows.

https://businessdesk.co.nz/article/markets/the-warehouse-is-cooked-everyone-knows-it