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

Warehouse Group shares fall after Torpedo sold for $1 to Tahua
Warehouse shares have been slipping for some time. (Image: NZME)
Gregor Thompson
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...

More Markets

KMD Brands announces $25m ‘cost reset’
Retail

KMD Brands announces $25m ‘cost reset’

KMD Brands said it will take out $25 million in costs as part of a “Next Level” transformation plan aimed at restoring profitability.     In materials released alongside its 2025 Investor Day on Thursday, the outdoor retail group said the strategy is designed to "unlock the full...

Ikea NZ to open Dec 4
Retail

Ikea NZ to open Dec 4

Swedish retailer to open in time for Christmas.

No encore: Potentia exits Vista stake
Markets

No encore: Potentia exits Vista stake

Despite board snub, Australian investor is still keen on NZ software businesses.