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) is the second NZ listed retailer in as many days to provide a disappointing trading update.</li><li>WHS guided to a full-year sales decline of -6% to -7% and EBIT (pre IFRS-16) of NZ$22m–NZ$30m, which implies double-digit declines in 4Q24 sales and a second-half operating loss.</li><li>The NZ consumer is clearly under increased pressure, with company commentary and channel checks suggesting that the rate of deterioration in spending has accelerated over recent weeks. </li></ul>

The Warehouse Group (WHS) is the second NZ listed retailer in as many days to provide a disappointing trading update.WHS guided to a full-year sales decline of -6% to -7% and EBIT (pre IFRS-16) of NZ$22m–NZ$30m, which implies double-digit declines in 4Q24 sales and a second-half operating loss.The NZ consumer is clearly under increased pressure, with company commentary and channel checks suggesting that the rate of deterioration in spending has accelerated over recent weeks. 

The Warehouse Group - Tough Times Roll On