The Warehouse Group's Strong Online Sales Growth Likely to Trigger Network Rationalisation
First-quarter sales growth at the Red Sheds, Blue Sheds, and Noel Leeming is tracking ahead of our full fiscal year 2019 estimate, and gross margin at the Red and Blue Sheds is improving. However, in anticipation of the crucial Christmas trading period, we maintain our near-term forecasts and our NZD 2.40 fair value estimate on no-moat-rated The Warehouse Group.Group headline sales were up by 3.6% in the first quarter, versus the previous corresponding period. This is ahead of our fiscal 2019 e...
The Warehouse Group is an office retailing group based in New Zealand. Co. is engaged in general retail in both the domestic small-office/home-office and small-to-medium size enterprise markets. Co. has two primary operating segments operating in the New Zealand retail sector. The operating segments are managed separately with their own management, stores and infrastructure. The Warehouse is predominantly a general merchandise and apparel retailer, with 87 stores located throughout New Zealand. The Warehouse Stationery is a stationery retailer, with 47 stores located throughout New Zealand.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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