The Warehouse Group
Overview
Stephen Tindall
Sir Stephen Robert Tindall, KNZM is the founder of New Zealand retailer The Warehouse, and of the Tindall Foundation.He attended Takapuna Grammar School and has a Diploma of Management from the Auckland Institute of Technology....
in 1982, is the largest department store
Department store
A department store is a retail establishment which satisfies a wide range of the consumer's personal and residential durable goods product needs; and at the same time offering the consumer a choice of multiple merchandise lines, at variable price points, in all product categories...
retailer operating in New Zealand. The Warehouse is largely a discount store
Discount store
A discount store is a type of department store, which sells products at prices lower than those asked by traditional retail outlets. Most discount department stores offer a wide assortment of goods; others specialize in such merchandise as jewelry, electronic equipment, or electrical appliances...
similar to Wal-Mart
Wal-Mart
Wal-Mart Stores, Inc. , branded as Walmart since 2008 and Wal-Mart before then, is an American public multinational corporation that runs chains of large discount department stores and warehouse stores. The company is the world's 18th largest public corporation, according to the Forbes Global 2000...
in the United States, however The Warehouse sells far more generic brand merchandise than other discount or department stores. The company also formerly had operations in Australia, which were sold to Australian Discount Retail
Australian Discount Retail
The Retail Adventures group is the largest discount variety retailer in Australia following the acquisition of Australian Discount Retail in 2009....
. For the fiscal year ending October, 2005, The Warehouse reported net income
Net income
Net income is the residual income of a firm after adding total revenue and gains and subtracting all expenses and losses for the reporting period. Net income can be distributed among holders of common stock as a dividend or held by the firm as an addition to retained earnings...
of NZ$71.9 million
Million
One million or one thousand thousand, is the natural number following 999,999 and preceding 1,000,001. The word is derived from the early Italian millione , from mille, "thousand", plus the augmentative suffix -one.In scientific notation, it is written as or just 106...
on NZ $2.224 billion of sales
Sales
A sale is the act of selling a product or service in return for money or other compensation. It is an act of completion of a commercial activity....
revenue (3.6% profit margin
Profit margin
Profit margin, net margin, net profit margin or net profit ratio all refer to a measure of profitability. It is calculated by finding the net profit as a percentage of the revenue.Net profit Margin = x100...
).
As of 2005, the company had 253 stores throughout New Zealand and Australia along with more than 6 distribution
Distribution (business)
Product distribution is one of the four elements of the marketing mix. An organization or set of organizations involved in the process of making a product or service available for use or consumption by a consumer or business user.The other three parts of the marketing mix are product, pricing,...
centres in total.
