The $$ figure on an annual report is not the only measure of how profitable a business is.
I’ve just had a wee peek at The Warehouse 2012 Annual report. They must surely be a filthy capitalist money grabbing wage slave exploiter of poor serfs living hand to mouth out of a cardboard box in the back of some downtown alley. Actually I have no idea what they pay!
But I did see that their profit is 5% of sales. Dirty rapacious people aren’t they! I’ve hunted but couldn’t find any other line that said “Profit”. The cunning swine have hidden it beyond my investigative powers – perhaps you could enlighten us on where all this other “profit” is hidden.
They are however going down the “Retail Wage” route which will bring qualifying employees pay up to $18.50 or even $20. The only small catch is that a person will have to work for them for three years so that they actually offer skilled value to the business. Oh – and the employees are going to have to go through the different training levels and improve themselves as well.
I say “Shame on all ye Warehouse Shareholders. Where is your social conscientious? You should pay $18.40 based on cigarette addiction, lack of skill and ability to get ones girl up the duff.”