WHS - Warehouse Group

[winner (n)]

Digressing from the thread topic sorry but trying to send an online inquiry form from the investor centre doesn't work because it expects you to confirm as human, just doesn't give you a means to. Symptom of investor relations being low priority??

Worked OK for me just now

Asked them what product categories do they classify as 'grocery' and whether the definition has changed recently

[Otago K]

Worked OK for me just now

Asked them what product categories do they classify as 'grocery' and whether the definition has changed recently

Thanks

I just went to try another browser, and it was also working OK, then I noticed a quick email reply from them within 30 minutes of the issue being raised, they had resolved the issue. Big ups to the WHS I will say on this matter

edit OK actually seems the Issue is in my Firefox browser I suspect, still glitching but the response time was sharp and also looking to address the matter I had sort to enquire on.

[winner (n)]

John Journee (JJ) stepped up as Interim CEO in May 24 and with new CFO Mark set out to 'transform' WHS

Quickly restructured the leadership team to reflect the focus needed to achieve transformation. One casualty of the restructure was the guy now leading Kathmandu so he wasn't really a casualty eh.

No doubt JJ and Mark sought wise counsel from Directors Guild Tony of My Food Bag fanme and Dean from Ryman

A few months ago JJ handed over the CEO reins to Mark to front the transformation.

This transformation still trying to get traction ....seems a lot of analysing and posturing going on but no real progress.

Maybe 2026 is the year it'll happen but WHS culture suggests even that will be problematical

I see good result as being $30m NPAT (ADJUSTED of course) in F27 ...transformation takes time.

[Mos]

John Journee (JJ) stepped up as Interim CEO in May 24 and with new CFO Mark set out to 'transform' WHS

Quickly restructured the leadership team to reflect the focus needed to achieve transformation. One casualty of the restructure was the guy now leading Kathmandu so he wasn't really a casualty eh.

No doubt JJ and Mark sought wise counsel from Directors Guild Tony of My Food Bag fanme and Dean from Ryman

A few months ago JJ handed over the CEO reins to Mark to front the transformation.

This transformation still trying to get traction ....seems a lot of analysing and posturing going on but no real progress.

Maybe 2026 is the year it'll happen but WHS culture suggests even that will be problematical

I see good result as being $30m NPAT (ADJUSTED of course) in F27 ...transformation takes time.

Sums it up well Winner. What would you do if appointed WHS CEO? Or do you think it is stuffed?

[winner (n)]

Wonder how the The Warehouse Bargain Shed, a pop-up at 182 Balmoral Rd is going. Kicking IKEA into touch I hope.

Had to smile when I heard that Mark invited shoppers to "skip the Sylvia Park traffic and hunt for a homeware bargain" in Mount Eden instead.

A week ago Mark was lamenting that New Zealand retailers had trained the consumer to "hunt for discounts all the time"which stuffed their margins. He said the group did not want to be discounting, particularly given the state of its eroded margins.

Never mind the Bargain Shed will be busy and hopefully incremental sales even if at a low margin ...won't last long. Got to do things like this to survive

[Ferg]

That would depend winner.....if they are using a pop up store to move SLOB then it is a win-win.

[winner (n)]

That would depend winner.....if they are using a pop up store to move SLOB then it is a win-win.

And plenty of SLOB there is

23% of $476m is a lot of aged stock (>6 months old) and then there's the $15m already written off

Sell the written off stock a win and even if sold the slow moving stuff at cost still a win as they won't need to write it off in the future lol

[Basil]

So much work for the new CEO to do after Nick Grayston did such a fine job of shredding more than $120m of shareholders capital on his failed iniatives all under the boards "watchful" eyes. 

[winner (n)]

So much work for the new CEO to do after Nick Grayston did such a fine job of shredding more than $120m of shareholders capital on his failed iniatives all under the boards "watchful" eyes. 

That was his pay Basil

Market cap fell by more %4500m while he was around

And so far that guy Mark has seen market cap down $270m since he joined the company

No disrespect to accountants but accountants are not retailers and WHS will one day regret promoting this Mark ... but Dame Joan won't be around to worry

[winner (n)]

Hey Basil .... didn't Nick buy your shares at $4 something.

Well done ... you must have made a few bob on that trade

Probably you didn't spend the proceeds at a Red Shed by the looks of their dismal sales perofrmance over the years

[Basil]

Great sale that was mate.  I see he's sold his Remuera mansion and fled the country in disgrace.
Bought a few basic tee shirts there the other day at $7 each. That'll help shareholders out.
Gosh, that loss of market cap is breathtaking !

[winner (n)]

Great sale that was mate.  I see he's sold his Remuera mansion and fled the country in disgrace.
Bought a few basic tee shirts there the other day at $7 each. That'll help shareholders out.

You should have another go ....could double or quadruple your money
....and then sell to Mark lol

[winner (n)]

A couple of damning articles in The Post lately. One about outsourcing a lot of tasks to India and how current stuff are being treated badly and other about the zillions of old stock they have

There was one comment that the new CEO isn't the right man to change WHS for the better ..like I say an accountant will never make a great retailer ..let alone a change agent.

WHS needs to change dramatically. The process is straightforward:  Decide where you're going. Then ask: How do we actually have to think and act to get there?

But there's a harder question for any leader: How do you get people excited not just about the mission, but about becoming who they need to become to achieve it?

Goals don't execute themselves. Visions don't align people automatically. The problem is always people.

Which is another way of saying: the solution is always people, too.

Murphy's Law says the system will eventually fail. Culture is how you build people and teams who won't.

I think our Mark is doomed.

[Basil]

Wow, ended the year at an all time low of only 72.5 cps

Noticed a heck of a lot of winter apparel in the menswear section of our local WHS. No idea why they're trying to sell so many winter clothes in the middle of summer ?

Also wondering why Stephen Tindall's son has stepped down from the board and what that suggests about future prospects ?

[winner (n)]

Wow, ended the year at an all time low of only 72.5 cps

Noticed a heck of a lot of winter apparel in the menswear section of our local WHS. No idea why they're trying to sell so many winter clothes in the middle of summer ?

Also wondering why Stephen Tindall's son has stepped down from the board and what that suggests about future prospects ?

That winter stuff is part of the $90m of old stock they have ...got to get rid of it sometime.

In the middle of winter I wanted some thermal tops .....none on the shelf of the local Red Shed

No worries Mark the accountant come CEO is going to fix it