New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

Warehouse Group Limited / Equity Bottom-Up

<ul><li>The Warehouse Group (WHS) reported a challenging FY24 result.</li><li>Management is committed to a turnaround in Red Sheds, but any turnaround will take time, and investors will want to see tangible signs of improvement before re-rating the stock.</li><li>In the meantime, domestic consumer spending remains weak, market share losses to key peers continue, and there will be a period of consolidation to sell through old stock. </li></ul>

The Warehouse Group (WHS) reported a challenging FY24 result.Management is committed to a turnaround in Red Sheds, but any turnaround will take time, and investors will want to see tangible signs of improvement before re-rating the stock.In the meantime, domestic consumer spending remains weak, market share losses to key peers continue, and there will be a period of consolidation to sell through old stock. 

The Warehouse Group - Stuck in the Red; Down to UNDERPERFORM