April YTD residential value is still positive (+5.6%), but non-residential drops 13% with total value marginally negative (-0.7%).
Sports & Camping, Appliances, Department Stores see biggest post-lockdown spending rebound w/e 24 May.
Locked down April saw a rise of 30,000 claims on the Government’s Jobseeker Support benefit.
Banks need to use good capital, liquidity buffers to "support customers and contribute to the economic recovery".
Australian consumers pick Bunnings, Woolworths and Qantas as the Lucky Country's "most trusted" brands.
Unsurprising "sharp shock" in NZ's June quarter will be followed by below pre-COVID-19 activity levels.
First days of L2 (w/e 17 May), spending is +53% on the previous week, with transaction volumes +46%.
Sales by volume and value held up well for Hardware, Building & Garden Supplies in the March 2020 quarter.
Lowe's reports impressive Q1 gains with US comps +12.3%, but warns sales may "moderate" later.
US$850 million of COVID-19 costs eat into Home Depot's Q1 earnings but US comparables still +7.5%.
“Grit, guts and servant hearts” drove Q1 gains, co-op says, with April US comps +26%, online +580%!
Multichannel retailers do best in April amid "seismic shift in purchasing patterns" with online +23.8% on 2019.
Fletcher's looks to "reset" business faced with "a shrinking economy [and] substantially reduced customer demand".
Updated: It's a qualified thumbs-up from around the building industry for last week's extraordinary Budget.
Spending is +1.5% in week ending 10 May, compared to the previous week. Spend at supermarkets and dairies dropped 1.6%.
Free trades & apprenticeships training for (eg) building, construction and agriculture over next two years.
8,000 more public and transitional homes to stimulate residential construction, create jobs, and reduce the housing shortage.
Low-income grant rises from 67% to 90% of the costs of adding insulation and/or heating under the Warmer Kiwi Homes programme.
$3 billion to fund projects aimed at "immediate job creation and income growth, construction activity".
Scheme has been extended to support worst cases, now includes pre-revenue R&D start-ups.
Euro DIY giant says Q1 sales fell 25%, but remains confident it has a "sound footing in the current crisis and beyond".
Mitre 10 won't be the only DIY retailer or merchant that's champing at the bit to re-open to the public from Thursday.
April retail sales fell 19%, the worst recorded decline since 1995. An online spending boom aided just a "fortunate few".
Retail, business organisations warn that there are more hard yards ahead, despite obvious relief at the prospect of Level 2...
TWG's Q3 retail sales were down 18%, despite online sales growing 75% to represent 16% of total Q3 retail sales.
Resources to help businesses operate safely under Level 2 — including posters, signs and contact tracing templates.
Updated: Seven more stores may shut for reasons "largely connected" with the COVID-19 restrictions, says Bunnings NZ.
Spending for w/e 3 May, having shifted from L4 to L3, grew by 25% on the previous week, thanks to takeaways!
The value of April 's spending on furniture, electrical & hardware fell by 73% on March. The drop in core retail was negative 44%.
Having underestimated a surge in online demand, Homebase pauses ordering, suggests shopping in-store instead.
Updated: The PM today outlined what Alert Level 2 looks like with welcome news that retailers can re-open following clear hygiene and distancing requirements.
Anticipating "subdued trading conditions" post-lockdown, the struggling retailer is considering store closures and layoffs.
Australian JB Hi-Fi businesses stayed open and fared very well in the quarter to end March but the NZ shutdown hurt the Kiwi stores.
"Uncertainties", Level 3 & 4 restrictions have placed a "significant strain" on the NZ business.
Plan is for James Hardie to improve the quality of its New Zealand offering by shifting production to two Australian plants.
Launched earlier than originally planned, we find out a bit more about Bunnings NZ's e-commerce offering.
Online demand doubled but Q1 sales were 35.6% down. Effect on H1 revenue "will be significant".
New resource consenting process will fast track some development & infrastructure projects under the RMA.
Probably anticipating the relative freedom of Level 3, spending softened even more in w/e 26 April, in FMCG too.
April retail sales were negative 79.8% on 2019, says Retail NZ, with little improvement in Level 3 so far...
From the Editor: Is there a "new normal" as we and our chosen industry return to some sense of normality?
The post-lockdown surge in online purchasing under Level 3 may be part of the "new normal", according to Mitre 10 NZ.
Toolstation, Wickes doing well but group total revenue for the first three weeks of April was just a third of the same period last year.
Wesfarmers "uncertain whether the higher levels of sales growth will continue for the remainder of the financial year".
We're all working remotely on NZ Hardware Journal's May 2020 content, so do send us your news and we'll send it around the industry!
Bunnings NZ goes live today with a transactional website, click and drive & collect.
Spending for w/e 19 April (calendar week 3 of Level 4) was +0.8%, with transactions +6.9% on prior week.
Local online spend +24% in March, well up from +10% in Feb, but online Hardware, Furniture & Housewares flat.
Government being called to "urgently increase protection for commercial tenants" faced with unaffordable lockdown rents .
Plan is part of MBIE's just-released guide to help builders (and site visitors) returning on-site under Level 3.
Updated: Retail NZ advocates that more physical shops can "operate safely at Alert Level 3", large format retail particularly.
What's top of Kiwis' post-pandemic wants and which shops will they head straight for once restrictions are lifted?
Updated: Plans are afoot so you can still experience Fieldays this year - but it won't until July and it won't be in person...
Really good news but not the best news: business reacts to the prospect of going to Level 3 next week.
From 28 April, NZ Hardware Journal will be almost back to normal. Find out what your business can and cannot do under Level 3.
Carters has updated its outlook and expectations for trade customers with the prospect of a return to work in Level 3.
Global construction industry recovery looks set to centre on increased public and private investment in infrastructure.
Metcash is looking to raise AU$330 million to strengthen its balance sheet and "enhance liquidity".
Construction industry launches a framework around new on-site working practices to mitigate risk from COVID-19.
Order online, drive to a designated parking space and wait while a team member puts the products in your boot.
Updated: PlaceMakers has added Dunedin to the list of stores supplying essential goods & services to the trade.
PlaceMakers adds to the growing list selling essential goods to consumers online; Snappy.co.nz remains shuttered.
Just released: a basic outline of a new Level 3 framework which we will enter at an as yet unknown date - what's indicated?
Stuck at home? The April 2020 Digital Edition of NZ Hardware Journal is now live to read, share and download.
In lieu of a transactional website, Bunnings NZ has adopted an email system to order essential products for home delivery.
New measures include a tax loss carry-back scheme that allows businesses to access previous tax payments as cash refunds.
Spending stats for w/e 5 April show almost 50% drop in spending value. Bigger, less frequent shopping trips the new norm?
A lot has happened since we started on our annual State of the Nation. Having also polled suppliers for their take on what’s ahead, what’s the outlook?
Updated: Mitre 10 NZ goes live to sell and home deliver a broad range of essential non-food products online.
Bunnings NZ pegs back essential trade offering from the "all stores" announcement made from Australia to 23.
Big orange remains "committed to keeping stores open just as we always do during times of crisis and natural disaster".
US $2/hour wage increase for all associates to end April, other measures now rolling out to safeguard staff and customers.
Stores are closed, B&Q henceforth providing contact-free click & collect and limited range for home delivery services.
All Homebase stores are shuttered, while an adapted home delivery service is now in operation
Spending pre-lockdown was massive for Hardware & Homeware (+208.5%), Appliances (+191%), but overall spending post-lockdown fell by 18%.
Now lists 4 stores for essential trade needs: Mt Wellington, Mt Maunganui, Kaiwharawhara and Riccarton.
NZ retailers can register to take online orders for essential non-food goods using non-contact home delivery.
Paymark: "Pre-lockdown spending splurge was not enough to offset the loss of sales later in the week for most merchants."
PlaceMakers' 2020 Conference & Trade Show, set for Auckland over 12-13 August, is now cancelled.
"Enough capital to cover debts as they fall due" but "current capital structure is not sustainable given the outlook".
Bunnings stores in Australia remain open, with restrictions on purchase quantities, customer separation, delivery still available.
30 Mitre 10 and Mitre 10 MEGA stores "have met criteria to operate as suppliers to trade customers for essential services".
For the April edition, we're going "digital first"! The print version will continue but we feel the current climate requires a different approach to ensure we fulfill our obligations to readers and commercial partners...
Updated: Fletcher Building warns of virus' "material impact" while 19 PlaceMakers stores fulfill "essential services"; Mitre 10 yet to announce a formal plan to do the same.
What the COVID-19 Level 4 alert and "essential services" mean for the building & construction sector.
Snappy will be closing its DC down this afternoon; fulfilment will stay on hold for the duration.
From midnight, ITM is shutting down for the duration except to cater for the needs of essential services.
From Australia: Bunnings NZ's 53 locations will close to the public from tonight but remain open to trade customers.
Not business as usual: Plumbing World shares what it will mean to be an "essential service" while Level 4 is in force.
Support to be able to maintain essential supply a key aspect of today's supplier update from PlaceMakers and MICO.
From the Editor: About treating people as you would wish to be treated yourself.
For the year to end Jan 2020, sales were +3.3%, same store sales +2%, GP +1.6%, GP Margin slightly down.
Official: Fieldays 2020, scheduled for 10-13 June, has now also been postponed due to health concerns.
TWG's H1 top line is +2.6%, but its outlook "could change dramatically" thanks to COVID-19.
Kingfisher update to 14 March states "no impact on demand from COVID-19", LFLs remain positive.
$5.1b in wage subsidies for affected businesses and $2.8b in business tax changes to help cashflow.
Work & Income has information on and details of the just-announced Wage Subsidy and Leave Payments.
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