
ab2f2183bde59850ccb6bf62a9f62fe7.ppt
- Количество слайдов: 31
The Warehouse Group Limited 1999/00 Financial Year Results Presentation
Agenda • • • Financial results summary The Warehouse review The Warehouse operations Warehouse Stationery review Australia Current Trading 2
FY 2000 Group Highlights FY 00 Sales Same store sales EBIT NPAT EBIT Margin EPS 1. Ordinary DPS 2. FY 99 1. 075 b 10. 7% 111. 3 m 70. 5 m 10. 4% 24. 3 c 12. 5 c 0. 933 b 13. 4% 85. 2 m 54. 4 m 9. 1% 18. 9% 9. 5 c % +15. 3% +30. 7% +29. 5% +130 bp +28. 6% +31. 6% 1. Based on average number of shares 2. Adjusted for 1: 1 bonus issue 3
The Warehouse Group Sales growth in the decade Sales ($m) $1 billion sales target surpassed in FY 2000 4
The Warehouse Group Profit growth in the decade NPAT ($m) 29. 5% increase in NPAT to $70. 5 m 5
EPS 1. The Warehouse Group EPS growth 28. 6% increase in EPS 1. Adjusted for 1: 1 bonus issue, based on weighted average shares on issue during the year 6
The Warehouse Group EBIT margin in the decade EBIT % (EBIT/Sales) EBIT in excess of 10% 7
Financial Performance Summary Year Ended 31 July ($m) 1999 % Change Retail Sales Revenue 1, 075. 3 932. 8 +15. 3% 111. 3 85. 2 +30. 7% Excl. unusuals 1. 5 0. 2 Incl. options scheme (3. 1) (1. 6) Pre-tax Profit 108. 1 82. 5 +31. 0% 70. 5 54. 4 +29. 5% EBIT Net Profit After Tax 2000 8
Financial Performance Summary - Unusual Items Year Ended 31 July 2000 Property Sale Profits $m 5. 6 Australia (preliminary acquisition costs) (2. 2) Business origination costs (1. 6) Goodwill amortisation (0. 3) 1. 5 Tax (1. 3) Post Tax 0. 2 9
Financial Performance Summary - Inventory excl GIT of $140 m - increase of $24 m Made up of increase in mobile phone stock $8 m two stores opening early Aug ‘ 00 $3 m WH Stationery stock increase $4 m General increase in stock $9 m ($3. 2 m relates to new/extended/planned stores) 10
Dividends Cents per share adjusted for bonus issue • Total pay-out of 21. 5 cents incl. specials (adjusted for 1: 1 bonus issue) for 1999/2000 • Ordinary dividends up 32% to 12. 5 c (adjusting for BI) • No further special dividends planned in the short term 11
FY 2000 Red Shed H 1 and H 2 EBIT Comparisons 12
The Warehouse “Red Sheds”
The Warehouse Customer Statistics YE July FY 00 FY 99 Paying customers 38. 3 m 35. 1 m Weekly foot traffic 1. 5 m 1. 4 m $26. 07 25. 27 Average sale 3. 2% % 9. 1% 14
The Warehouse Property 1999/2000 Review • 2 new stores (Cambridge, Mt Wellington) • 3 replacement stores (Porirua, Wanganui, New Plymouth • 14 refurbishment's and 1 extension • Retail space 253, 717 square metres (up 5. 5%) 15
The Warehouse Property Next 12 months • 5 new stores (Queenstown, Rangiora, Belfast (Ch. Ch), Auckland Airport, Hillcrest) • 3 replacement stores (Glenfield Mall, Linwood (Chch), Whangaparoa) • 15 store refurbishment's and 7 store extensions • Total selling space to increase by over 35, 000 square metres by Christmas 2000 (+13. 8%) 16
The Warehouse Merchandise 1999/2000 Highlights and Review – – Apparel sales up 30% Green garden sales up 23% Books up 18% BBQ’s and related Y 2 K product up 31% Next 12 months – Continue to grow apparel business – Sanyo brand to be launched in Warehouse at the end of Oct 2000 – Bigger push into sporting goods 17
The Warehouse Merchandise Forecasting System • Accurate short and long range customer demand forecasts – purchase according to forecast demand instead of replacing sales – share forecasts with suppliers 18
The Warehouse Merchandise Forecasting System • Contribution analysis – work with suppliers to improve performance of poor sellers, optimise good sellers • Implementation Time – Pilot November / December 2000 – Phased implementation starting Q 1 2001 19
The Warehouse Operations “Back dock” to “Red Bag” review • Objectives – standardise procedures in store – review areas such as price change management, checkout design, communication, Merchandising standards, debtors, returns, repairs, rainchecks and layby, Customer service. – 40 projects identified 20
The Warehouse Operations Sprint Checkouts Improve the checkout processes • Objectives – – – Reduction in transaction time by over 30% Improve customer Interaction Labour cost savings Enhance Loss Prevention OSH improvements • Implementation – being rolled out to new stores – retro-fits to selected existing stores 21
The Warehouse Logistics 1999/2000 Highlights and Review – NIDC extension completed on time for Christmas ‘ 99 – 300% increase in suppliers moving to cross dock (200 suppliers versus 65 in Aug. 1999) – Escalation of partnership agenda’s with suppliers – Continued to improve forecasting accuracy Next 12 months – Implement 12 major supply chain development projects within Clints – Apparel automation project to support next 5 years growth in apparel – Integration Merch. Planning with Supply Chain development 22
The Warehouse Operational Performance • Operations highlights – shrinkage down for H 2 2000 • Safety – LITFR 1997 - 5. 28 – LTIFR 1998 - 3. 07 – LTIFR 1999 - 1. 64 – LTIFR 2000 - 2. 94 The higher rate in 2000 reflects longer time off period per injury rather than an increase in injury frequency • Team Member Satisfaction – 83% of team members agreed that “The Warehouse 23 is where people come first” (up from 76%)
Warehouse Stationery “Blue Sheds”
Warehouse Stationery “Blue Sheds” 1999/2000 Highlights and Review Sales Same store sales EBIT NPAT EBIT Margin FY 00 63. 1 m 23. 3% 5. 0 m 3. 2 m 7. 9% FY 99 45. 9 m 29. 0% 3. 0 m 2. 0 m 6. 6% % +37. 4% +64. 9% +62. 5% 25
FY 2000 Blue Shed H 1 and H 2 EBIT Comparisons 26
Warehouse Stationery “Blue Sheds” 1999/2000 Highlights and Review • Stores – Six stores added in the year – retail space 29, 062 - up 40% • New Categories and initiatives – – – Gateway computers Revamp of four major categories E-Commerce Trial Exploring alternative markets NZ’s first priced stationery catalogue 27
Warehouse Stationery “Blue Sheds” The next 12 months • Store rollout – 7 new stores in FY 2001, with 6 in place by Christmas – Pukekohe – Taupo – Paraparaumu – Timaru – Blenheim – Downtown (Auckland) 28
Australia Clint’s and Solly’s – acquisition effective from 1 August 2000 – expect settlement at the end of September 2000 – debt raising mandate awarded for A$150 m Clint’s fund raising – buyback of up to A$33 m will begin after settlement, planned start of buyback October 2000 – strategy is to improve infrastructure and systems to provide a sound base for sustainable profitable growth – strategy is long term, with benefits coming from year 3 – seeking ASX Foreign Exempt listing late in 2000 29
Current Trading and Future Outlook Good start to the new financial year – Warehouse store total sales up 15% on August 1999 – Warehouse Stationery total sales up 40% on August 1999 – Clint’s trading on plan Macro conditions: – Consumers sentiment rattled by higher petrol prices and increased mortgage interest rates – Current trading suggests consumers are still spending but they are being more price sensitive – Too early to draw any conclusions about H 1 2001 30
‘Where Everyone Gets a Bargain’ Thank you for your attendance from the people at The Warehouse 31