You are probably not able not able to comment and that's fine, but has SRG made any approaches to Tentworld at all? They seem to have a decent appetite for outdoor retailers and as you have done very well bucking the trend for retail and had good growth, I imagine you would be an attractive prospect.
Thank you we have definitely been working hard to buck the trend!
We've not had any direct obvious approaches. Though on occasion we have had strange enquiries at times that we suspect may have been them. No serious direct nibbles though. Overall, I think they prefer to pretend we do not exist.
Tentworld is currently in the process of slowly transitioning from 2nd generation to 3rd generation. Dad is in his 60s and I'm in my 30s.
This is our 'family farm' and we're not looking to sell, but to establish ourselves a solid offensive position to ensure we can be part of the Australian landscape for a long time to come. This is why we've really solidified our store network over the past 18 months and will continue to do so for the foreseeable future.
I would hope that Tentworld would tell SRG to go **** themselves. There has to be more than the accumulation of money. Surely.
I'd imagine that would be the response. Should they ever approach. However, you have to know when to hold them & when to fold them. Right now we feel like we've got a few cards up our sleeves.
Right.......Its time to upgrade the Kawana store because you cant swing a cat in that joint.
I'd love to. We've been looking on the Sunshine Coast for a larger building even before we moved into the one we are in. We just couldnt find any. (I just had another look just now).
The problem is Sunshine Coast is going through such big population growth older bulky goods commercial buildings are being destroyed to make way for town houses, units etc as bulky goods gets pushed further off the coast.
The newer ones being built further off the coast are all very new, and owned by major developers who want major returns. That does not fit in our formula. We try to be on main roads, in easily recognisable locations, but in buildings that are more affordable - generally older. We dont think paying large amounts in rent gives us any competitive advantage, we instead prefer to use cheaper rent to allow us to deliver better prices, bigger ranges, and better customer service. We think that this is what our customers value more.
For now, unfortunately I think you'll have to make do with our Warana store. Sorry!!
