The Warehouse Group’s EDLP Disruption of Sales Greater Than We Expected; We Trim Our FVE to NZD 2.40
No-moat-rated The Warehouse Group reported first-quarter fiscal 2018 group sales of NZD 645 million, a 1.7% decrease on the prior corresponding quarter, significantly affected from the transition to everyday low pricing, or EDLP, at its core Red Sheds business, as well as the clearance of discontinued lines. We trimmed our valuation to NZD 2.40 per share from NZD 2.50 following weaker-than-expected sales growth; however, shares are trading at a 12% discount to our intrinsic assessment at current...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.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.