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Topic # 148749 30-Jun-2014 10:00
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have a look.

https://www.nzx.com/companies/WHS/announcements/252206

TW Group to Work with The Good Guys as they exit NZ 9:32am, 30 Jun 2014 | GENERAL MEDIA RELEASE 30 June 2014

The Warehouse Group to Work with The Good Guys as they exit NZ Discount electrical goods retailer Good Guys has decided to leave the New Zealand market, and will work with The Warehouse Group (TW Group) to minimise disruption and any potential impact to customers, employees and store landlords as it exits.

TW Group CEO Mark Powell said that while they were not acquiring the Good Guys business, after the Good Guys stores have closed TW Group will take on the five Good Guys stores site leases, work with Good Guys to offer as many as possible of their employees alternative employment and would use Noel Leeming stores to allow former Good Guys customers to return faulty product.

“Our goal is to minimise the impact of Good Guys closure on its team members, customers, landlords, and the wider business community,” said Mr Powell. TW Group will take over the lease of the five Good Guys stores at Albany, Wairau Park, Manukau, Botany and Sylvia Park.

The Group would look to utilise these retail spaces across a mix of its retail brands said Mr Powell. TW Group’s stores comprise The Warehouse, Warehouse Stationery, Noel Leeming Group, Torpedo 7 and R&R Sports. Mr Powell said that the transition arrangement offered benefits to the TW Group, including an ability to expand its store networks in additional locations, as well as the potential to add new experienced retail team members in the Auckland region.






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  Reply # 1076929 30-Jun-2014 11:28
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It's always a shame when a competitive store chain can't survive in our market. I feel particularly sorry for the staff. However in a marketplace that is already crowded, particularly by Australian chains, it won't be the last.
Quite often on my visits to the GG stores I have been the only customer in the store.
I wonder how long it will be before DSE follows suit?




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  Reply # 1076933 30-Jun-2014 11:31
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Disappointing. Bought a couple of things from them online and they were cheap-as and the service was great.

 
 
 
 


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  Reply # 1076934 30-Jun-2014 11:32
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I wonder when TWG will be stopped buying every retailer it can?

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  Reply # 1076943 30-Jun-2014 11:45
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I've always had very good experiences at TGG and very often they had the best prices too. Will be sad to see them go. Given the way they operate (I think the stores are jointly owned with franchisees too), a lot of the individual owners of the shops would have lost huge money as well.



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  Reply # 1076951 30-Jun-2014 11:51
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Dingbatt: It's always a shame when a competitive store chain can't survive in our market. I feel particularly sorry for the staff. However in a marketplace that is already crowded, particularly by Australian chains, it won't be the last.
Quite often on my visits to the GG stores I have been the only customer in the store.
I wonder how long it will be before DSE follows suit?


Dick Smith's owned by Woolworths Australia, isn't it? So probably not that likely.

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  Reply # 1077020 30-Jun-2014 13:06
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pbolger:
Dingbatt: It's always a shame when a competitive store chain can't survive in our market. I feel particularly sorry for the staff. However in a marketplace that is already crowded, particularly by Australian chains, it won't be the last.
Quite often on my visits to the GG stores I have been the only customer in the store.
I wonder how long it will be before DSE follows suit?


Dick Smith's owned by Woolworths Australia, isn't it? So probably not that likely.


No, they sold it to a private equity firm, Anchorage Capital Partners.

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  Reply # 1077023 30-Jun-2014 13:11
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The only thing I didn't like about The Good Guys was their ads were slightly annoying (thankfully not as frequent as in Australia).  End of the day, this is just a supply chain/distribution/store thing I'd imagine.  (Although all the Good Guy stores aren't in great places)

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  Reply # 1077323 30-Jun-2014 20:34
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Wairau is just along from a noel leemings and its associated fancy kitchen stuff store that was a bond and bond, and just along from a harvey norman, so I dont know what TWG would put on that site.




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  Reply # 1077409 30-Jun-2014 22:05
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There is certainly a lot of consolidation in the market going on, which is not really that good for the consumer.

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  Reply # 1077411 30-Jun-2014 22:08
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Hope someone buys magness benrow just so those radio ads stop....




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  Reply # 1077417 30-Jun-2014 22:16
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I did wonder what they offered the consumer in the long term.
They did seem to be $1 cheaper than the opposition on many things, but the range was 'so so'. There was cheap shipping... But price doesn't buy loyalty, and being the cheapest may help with market share, not profit.
... no profit = no more stores, as it turns out.

In regards to The Warehouse situation, I guess they just want the physical foothold in the Auckland market. Picking up staff to top up their retail stores would be the cherry on the top.

And yes, I agree with the DSE situation, surely the Aussie owners would have to be looking at the poor results compared to Australia and be pondering even more changes...

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  Reply # 1077424 30-Jun-2014 22:19
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The DSE solution seems to be more "$50 off" HDMI cables in limited time email sales and 20% off selected bottom of the range samsung and house brand TV sales happening all the time.




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  Reply # 1077461 30-Jun-2014 23:15
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'Solution'?
It looks like a 'me too' approach from where I'm sitting.

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  Reply # 1077505 1-Jul-2014 00:48
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Dunnersfella: 'Solution'?
It looks like a 'me too' approach from where I'm sitting.


Its even worse than briscoes for insane normal prices then retarded discounts.





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  Reply # 1077526 1-Jul-2014 07:14
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Don't think it's only briscoes nowadays. Every other big name retailer does worse! NL, HN, comes to mind.

Like a proper camera shop sells a current model for $999, these jokers would sell theirs at 1499 ... used to be the opposite!

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