Anyone considering buying more Warehouse shares given the announcement yesterday that the Court of appeal has upheld the Commerce Commissions appeal that the company shouldn't be sold to either Woolworths or Foodstuffs?
I think it will go to the Supreme Court and possibly to a judicial review of that court's decision. It has been done before between Woolworths and Foodstuffs.
Retailer The Warehouse has opened the first of its smaller format stores, with plans to roll out about 15 in coming years.
The company said the first of its The Warehouse Local stores was opened in Mosgiel, near Dunedin, and the company now had 86 stores nationwide.
Research carried out with 600 Mosgiel residents determined the range and choice of products in the first local store, The Warehouse said today.
It had employed Dunedin locals to fill three of the six store management and supervisor roles in the Mosgiel store, and all of the 22 service staff from the small community.
Mosgiel resident and Dunedin deputy mayor Syd Brown said The Warehouse's presence offered new and welcome employment opportunities to a community hard hit by recent set-backs.
Bongo666 wrote:MELBOURNE, July 22 (Reuters) - Woolworths Ltd (WOW.AX), Australia's biggest retailer, stood by its full-year profit growth forecast on Wednesday after its sales growth met its expectations.
"There's no concerns about our guidance for the year," Chief Executive Michael Luscombe told analysts. He said investors should not read anything into the fact that the company had not mentioned its full-year outlook for net profit after tax growth of 11-14 percent on a 52 week comparative basis in its Wednesday sales announcement (see [ID:nSYD507732]). (Reporting by Sonali Paul)
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