Retail Sector

SNZ confirms 5.9 pct fall in NZ wholesale sales in Q1

SNZ confirms 5.9 pct fall in NZ wholesale sales in Q1

The latest reports confirm that retailers have purchased a record low number of goods, and for lower prices from the Wholesalers.

Statistics New Zealand figures show, seasonally adjusted wholesale trade sales declined in the March quarter a record of 5.9%, in the December quarter more than double the previous largest fall of 2.5%.

All wholesaling industries witnessed drop, with the largest decrease in sales coming from petroleum products, which plunged a record 17%.

Life Pharmacy turns profitable

Life Pharmacy turns profitable

A full year net profit of $61,000 was reported by Life Pharmacy recently, the credit for which the company gives to retail and dispensary sales that were strong across all its stores including franchisees.

It has been learnt that a loss of $570,000 during the last year, is followed by the result for the year to the end of March, which was made on revenues up 21.3 percent to $7.2 million.

F&P share price increase to be investigated

It was recently specified by Fisher & Paykel Appliances that the company has no idea how its share prices rose more than 30% since Friday. Yesterday, F&P was questioned by NZX whether it had disclosed all material information to the market.

NZX expressed concerns over the stock price manipulation and said, "FPA's share price yesterday was quoted on the NZSX Market at 63 cents per share. This is an increase of 15 cents per share (31.25 percent), since commencement of trading on Friday May 1, 2009."

NZ expansion planned by McDonald’s

McDonald’s

30 additional fast food restaurants have been planned to be constructed by McDonald's in New Zealand and during the next three years it would also employ another 6000 staff.

Local managing director Mark Hawthorne told that in the year 2009 the chain will open 10 new outlets. 

He further informed that this year approximately $100 million would be spent by the company and its franchisees on constructing new stores and refurbishing existing ones.

Pak 'n Save Supermarket opens after 20 years of legal battle

Pakistan Supermarket

After nearly 20 years of fighting a legal battle, Supermarket Pak 'n Save finally opened its doors in North Shore City.  

The Wairau Rd land was bought in the year 1989 and ever since the company has been waiting to open a store.

In October 2004, it received resource consent, and the building was completed in 2005.
 
However a challenge was made by rival chain Progressive Enterprises to Foodstuffs' resource consent and the result was a prolonged court battle.

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