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Share Investor Q & A: Warehouse Group CEO Ian Morrice

20 Sep 2010 08:54Share Investor
The Warehouse Group Ltd [WHS.NZX] has had a tough last few years. Profit has been flattish and sales have remained relatively stagnant.

The Warehouse is a company with a long established history in New Zealand as the bargain retailer and it has been a great investment for long term shareholders over the past 16 years.

Over the last 5 years though the company has stalled in growth and now faces more serious competition from its rivals.

It has been headed by canny Scot, Ian Morrice for the last nearly six years and he has done well to manage the company through the debacle of The Warehouse Australia and a clean exit from that market and a subsequent recession, especially felt in the retail sector.

Attempts at growing the business by moving into the supermarket sector failed and this move prompted Foodstuffs and Woolworths Ltd [WOW.ASX] to each take 10% stakes in the company with a possible view for a full takeover by either thwarted by the Commerce Commission and numerous legal appeals, so far, as senior as the Court of Appeal and a possible move in the Supreme Court.

What do we know of Ian's plans for the "Red Sheds" and how he intends to take the company into the future though?

With these things in mind and many other questions in my head I submitted questions from myself and Share Investor readers to Ian via email.

Continue Interview with Ian Morrice at Share Investor Blog

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c Share Investor 2010
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