Noel Leeming pricing - stuck in 2014

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graemeh

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#1501602 29-Feb-2016 16:56

sbiddle:

Journeyman:

And inevitably what ends up happening is that a company that thought it had $$$ worth of assets comes to realise that it is in fact close to zero. Then some creative accounting takes place...

Dick Smith anybody?

Too late, they are already owned by The Warehouse.

antonknee

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#1501709 29-Feb-2016 18:21

I'm certain they know what they are doing. Let's not forget they are a part of New Zealand's largest retailer (The Warehouse Group). There is bound to be some dead stock floating around but to equate the position of Noel Leeming or Harvey Norman to that of Dick Smith is pretty unrealistic.

Plus Noels has already had their white knight swoop in an buy them. 3 years ago - that white knight was The Warehouse Group. My understanding is that Noels were pretty close to turning the lights off not too long before that.

mattwnz

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#1501712 29-Feb-2016 18:24

Wade:

I'd love it if the inventory in my warehouse miraculously reduced in cost as it aged, unfortunately it doesn't

Isn't that what rebates and cashbacks are for?

alasta

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#1501749 29-Feb-2016 19:34

When I worked at Warehouse Stationery many years ago I could never manage to convince the branch manager to sell near obsolete electronic stock at cost in order to get rid of it before it became worthless. The managers all had gross margin % targets, and they didn't understand how quickly stocks of phones, palm pilots, printers, etc. needed to be turned over.

Jaxson

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#1501772 29-Feb-2016 19:56

It's funny how some items hold their value like that.

Both the PS4 and Xbox One are 2 years old now for example and are still RRP around the $500 mark.

jfanning

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#1501792 29-Feb-2016 20:25

Jaxson:

It's funny how some items hold their value like that.

Both the PS4 and Xbox One are 2 years old now for example and are still RRP around the $500 mark.

The PS4 was nearly $700 when released

Dunnersfella

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#1501822 29-Feb-2016 21:08

Noel Leeming do have a program in place to sort out old / dud stock... It's called Noel Leeming Clearance.

HN have the same approach, but they also have an aggressive aged stock programme that punishes store franchisees (in the pocket) to kill old stock.

A tough ask when some of their goods are seasonal (BBQ's / electric blankets etc).

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Geektastic

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#1501901 29-Feb-2016 22:57

Dunnersfella:

Noel Leeming do have a program in place to sort out old / dud stock... It's called Noel Leeming Clearance.

HN have the same approach, but they also have an aggressive aged stock programme that punishes store franchisees (in the pocket) to kill old stock.

A tough ask when some of their goods are seasonal (BBQ's / electric blankets etc).

I'm surprised they do not simply transfer it to the Warehouse....

Geektastic

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#1501902 29-Feb-2016 22:57

Dunnersfella:

Noel Leeming do have a program in place to sort out old / dud stock... It's called Noel Leeming Clearance.

HN have the same approach, but they also have an aggressive aged stock programme that punishes store franchisees (in the pocket) to kill old stock.

A tough ask when some of their goods are seasonal (BBQ's / electric blankets etc).

I'm surprised they do not simply transfer it to the Warehouse....

raytaylor

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#1501923 1-Mar-2016 01:47

When I was at the warehouse, they had "project refresh", where everything was cleaned up and many old lines were removed then replaced with more middle and upmarket brands.

I remember a customer came in to return a faulty CD MP3 player and the confused returns clerk was adamant we had never sold a panasonic product - but they were there, hidden on a shelf down the bottom of the electronics aisle.

The purchase of noel leeming was to take this to the next level and get the suppliers to sell products directly to the warehouse, where as previously it was seen by some as a way to devalue their brand.

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nakedmolerat

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#1501952 1-Mar-2016 09:00

Dunnersfella:
Noel Leeming do have a program in place to sort out old / dud stock... It's called Noel Leeming Clearance.

I have been to their clearance outlet in Manukau - their clearance price can still be expensive than what is advertise at other stores. It pays to check with pricespy app if you're there. There are a few bargains tho.

richms

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#1501955 1-Mar-2016 09:07

Clearance outlet when I was there was just full of returned junk electronics that was way too expensive.

Richard rich.ms

Jaxson

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#1502018 1-Mar-2016 11:05

jfanning:

Jaxson:

It's funny how some items hold their value like that.

Both the PS4 and Xbox One are 2 years old now for example and are still RRP around the $500 mark.

The PS4 was nearly $700 when released

Exactly.

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