Sharechat Logo

Warehouse to become mall rat?

Friday 1st September 2000

Text too small?

Listed retail juggernaut The Warehouse is not saying whether it has lodged an offer for Australian retail giant Coles Myer's local Kmart stores - a move that would give the standalone chain a mall presence.

In Australia Coles Myer stock has gained some support after it indicated it would sell its loss-making New Zealand operations Kmart and Katies.

The Warehouse has been the only suggested buyer for Kmart's 11 local stores.

"Any sale would be on The Warehouse's terms - with Kmart sales falling, the red ink's flowing heavily on the Coles Myer [balance sheet]," one analyst said.

The Warehouse earlier bought the purpose-built Wanganui Kmart site and refitted it.

Analysts believed The Warehouse could come up with the cash to buy Kmart despite its recent buying spree across the Tasman.

The Warehouse announces its annual results on Monday.

- Nicholas Bryant

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

SML - Synlait Milk Limited - Trading Halt of Securities
AIA - Auckland Airport announces board chair changes
AIA - Auckland Airport announces board chair changes
CEN - Tauhara commissioning progress update
FPH initiates voluntary limited recall
March 28th Morning Report
KFL Celebrates 20 Years of Excellence in Investment Mgmt.
SVR - Savor FY24 Earnings Guidance & Change in Banking Partner
NZK - NZ King Salmon Investments Limited FY24 Results
March 27th Morning Report