Forum Archive Index - May 2003

["Malcolm Cameron" <malharcameron@hotmail.com>]

Snoopy my early memories of the warehouse when they were in barrys point 
road or thereby in takapuna and i think camp bun in panmure an ex army camp 
use to travel from Gisborne to Auckland for major shoping trips a trip to 
warehouse in panmure was a highlight in amongst the junk and there wasn't 
much of it there was some very high class surplus stock. still got towels 
and mink blankets here in australia some of the few items that we bought to 
australia from NZ i think we had something like 24 cartons so you can 
understand most items were either irreplaceable or very high quality. The 
period I am talking about was round the time of the 87 sharemarket crash 
possibly a bit before when retailers had surplus stock galore & many closed 
the doors. George Courts was one and tyndall was tied in with them somehow 
and he managed to get surplus stock on a cosignment basis (IE he paid for 
them we they went out the door. When this stock eventually dried up there 
was a short period of junky stock some of it the poor surplus stock from 
retailers and wholesalers that had not sold well and anything else they 
could get there hands on untill the buyers began scouring the world for 
bargains. Then the quality picked up again. But never the junky nicknacs 
they are mainly trying to sell in australia similar to stock in the one and 
two dollar stores in NZ. Untill you really take a close look at the 
merchandise in stores transtasman within a week or so of each other you 
can't understand the difference. To give you another example Hardwarehouse 
now Bunnings when we arrived here in early 1998 we thought we were going to 
have a ball buying things for the house at harwarehouse we did not buy a 
thing there prices were on average 40% more than the same stores in 
Auckland. And at the same time stereos and TVs were 50% more than auckland 
prices. I hope this jogs your memory and helps with your evaluation of the 
retail scene in queensland i take it this should be much the same throughout 
Australia But because of different state laws and taxes may not be so. In 
another post you mentioned CML & WOW for what it is worth I don't think 
there is much further upside. I kick myself for not buying WOW when it was 
just under $4.00 But at the time and still is most of my capital is in NZ. I 
can see a lot of downsize for the two big retailers CML & WOW. Iwould 
actually like to see warehouse and foodstuffs get together to bring 
something like the pack n saves out here Mr hart would probally join in to 
and give the australians a real shake up instead of leaving it to the german 
Aldi chain. Foodland is now in queensland and bringing in frozen vegitables 
and other goods from NZ and that is rocking the boat slightly for CML & WOW 
To give you an idea of some of the huge margins they enjoy a loaf of bread 
in a supermarket averages $3.00 in a small retailer or vegie shop the 
average is about $1.20 made by the same bakeries but a simple range in 
different bags. Regards Malcolm








>From: "tennyson@caverock.net.nz" <tennyson@caverock.net.nz>
>Reply-To: sharechat@sharechat.co.nz
>To: sharechat@sharechat.co.nz
>Subject: Re: [sharechat] Ware house woes by macdunk
>Date: Mon, 05 May 2003 20:52:08 +1200.00
>
>Hi Malcolm,
>
> >
> >
> > Snoopy warehouse in australia is just a very poorly run cheap junk
> > store nothing like the NZ warehouse was
> > They are ditching the stores they bought over here as
> > fast as they can so sites they bought were probally duds anyway. You
> > are still seeing stock from pre purchase era still with original price
> > stickers etc. so some of it has been sitting around for about three
> > years. these are my opinions.
> >
> > When they have some good promotional merchandise you no
> >  longer go shopping for it because the stockline will be so thin
> >  you are wasting your time.
> >
> >
> >
>I appreciate your frankness.   Perhaps in future years WHS
>management will admit paying too much for their Australian
>acquisitions!    Neverthess your whole evaluation struck a chord with
>me.   How long is your memory?
>
>Because my memory is that your description might apply equally well
>apply to the early days of 'the Warehouse' in New Zealand.  And look
>where 'The Warehouse' is in the New Zealand market now!   I'm still
>taking the longer term view on this one.
>
>SNOOPY
>
>discl: very new WHS shareholder
>
>
>--
>Message posted by Harry Tennyson
>  using Pegasus Mail 4.02
>I have Word 97 to read attachments
>------------------------------------------------
>
>
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