The Warehouse's painful online lesson

After launching in 2019, TheMarket is being closed in June by owner The Warehouse. (Image: The Warehouse)

Tue, 14 May 2024

In 2021, The Warehouse Group chair Joan Withers said the company’s multimillion-dollar investment in its wannabe Amazon website, TheMarket, had been vindicated. On Friday, the New Zealand Exchange (NZX) listed retailer pulled the pin on the business, announcing it would close the site in June. In February. the group also announced it would sell its outdoor chain Torpedo7 for $1 after spending more than $50 million buying the online business.The group warned in "confronting" commentary that sales continued to decline in...

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