Warehouse Group shares fall after Torpedo sold for $1 to Tahua

Warehouse shares have been slipping for some time. (Image: NZME)

Thu, 22 Feb 2024

Warehouse Group shares fell 2.3% to $1.25 after the company announced the sale of outdoor brand and retailer Torpedo7 to Tahua Partners Limited for $1.Torpedo7 is the latest acquisition for Tahua, a consortium that manages Burger King, Starbucks, Hannahs, Hush Puppies and Number One Shoes.The Warehouse Group told the market it sold Torpedo7 - which accounted for 5% of the group’s sales - to focus on its core businesses The Warehouse, Warehouse Stationery and Noel Leeming.The group also operates e-commerce marketplaces 1-day and The Market...

Subscribe to BusinessDesk

Unlock access to all stories with this special annual deal for just $99. Sale ends Monday 18 November 2024 11.59pm.

Stay informed on business, government and financial developments across New Zealand.
Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Subscription renews at $349. Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets Market close

NZ sharemarket continues see-sawing, down 0.5%

The S&P/NZX 50 Index and it closed at 12,674.49, down 74.87 points or 0.59%

Graham Skellern 6:10pm

Primary Sector

Higher likelihood of record Fonterra milk price: BNZ

However, on-farm expenses have increased since the payout's last peak.

Riley Kennedy 3:22pm

Higher likelihood of record Fonterra milk price: BNZ

Energy

Contact says gas-fired plant will be available next winter

But it depends on securing gas to fire it and a customer willing to pay for the power.

Ian Llewellyn 2:00pm

Contact says gas-fired plant will be available next winter

Sponsored

Why large format retail may be about to have a moment

LFR offers regular returns with strong tenants and long leases.

PMG

Sponsored

Out Now! Office Options

Barfoot & Thompson

More Markets

Markets Market close

NZ sharemarket continues see-sawing, down 0.5%

The S&P/NZX 50 Index and it closed at 12,674.49, down 74.87 points or 0.59%

Graham Skellern 6:10pm

Infrastructure

Fletcher finalises industry response to pipe problem

Fletcher Building said today it had finalised an industry response to its Iplex pipes division issue.The building materials giant has faced a number of product quality complaints relating to a hot and cold water polybutylene pipe product it previously manufactured.Its proposed se...

Victoria Young 4:00pm