Warehouse will take over Auckland appliance store sites, offer jobs to staff

Mark Powell, Warehouse Group Chief executive
Warehouse Group 12-month price history (NZX.com)

Warehouse Group [NZX: WHS], New Zealand's largest retailer, will take over five Auckland store leases and offer employment to staff when Australian discount electrical goods retailer The Good Guys exits the New Zealand market.

Auckland-based Warehouse will take over leases at Albany, Wairau Park, Manukau, Botany and Sylvia Park and utilise the spaces across a mix of its brands which include The Warehouse, Warehouse Stationery, Noel Lemming Group, Torpedo 7 and R&R Sports, Warehouse chief executive Mark Powell said in a statement.

Warehouse said it would offer employment to as many of the Good Guys workers as possible and allow customers to return faulty product through its Noel Leeming appliance stores.

The Australian appliance chain was founded in 1952 and has 97 stores in Australia, according to its website.

The shares rose 0.3 percent to $3.09 today, and have slid 18 percent this year.

(BusinessDesk)


Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7276 -0.0007 -0.10%
AUD 0.9490 0.0024 0.25%
EUR 0.6487 -0.0002 -0.03%
GBP 0.5587 0.0002 0.04%
HKD 5.6423 -0.0029 -0.05%
JPY 73.8610 0.3440 0.47%

Commods

Commodity Price Change Time
Gold Index 1321.0 -5.860 2016-09-28T00:
Oil Brent 49.2 2.720 2016-09-28T00:
Oil Nymex 47.0 2.380 2016-09-28T00:
Silver Index 19.1 -0.050 2016-09-28T00:

Indices

Symbol Open High Last %
NZX 50 7305.4 7349.8 7290.4 0.73%
NASDAQ 5312.7 5320.6 5305.7 0.24%
DAX 10545.6 10575.3 10438.3 1.20%
DJI 18240.2 18349.9 18228.3 0.61%
FTSE 6849.4 6935.8 6849.4 1.14%
HKSE 23828.6 23828.6 23619.7 0.51%
NI225 16606.3 16756.4 16465.4 1.39%
ASX 5412.4 5473.3 5412.4 1.09%