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)

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

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7854 -0.0022 -0.28%
AUD 0.9219 -0.0010 -0.11%
EUR 0.6303 0.0005 0.08%
GBP 0.4995 0.0007 0.14%
HKD 6.0898 -0.0158 -0.26%
JPY 92.6170 -0.0300 -0.03%

Commods

Commodity Price Change Time
Gold Index 1196.6 -2.970 2014-11-26T00:
Oil Brent 79.4 -0.640 2014-11-26T00:
Oil Nymex 73.7 -0.340 2014-11-26T00:
Silver Index 16.6 0.000 2014-11-26T00:

Indices

Symbol Open High Last %
NZX 50 5455.4 5474.7 5455.4 0.30%
NASDAQ 4760.2 4788.0 4758.3 0.61%
DAX 9934.8 9992.7 9915.6 0.60%
DJI 17812.2 17833.8 17814.9 0.07%
FTSE 6729.2 6749.9 6729.2 -0.09%
HKSE 24169.8 24228.1 24112.0 -0.45%
NI225 17340.2 17389.9 17248.5 0.74%