Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Farmlands Continues Gaining Market Share

Media Statement For immediate release May 12 2006

Farmlands Continues Gaining Market Share

Rural retailer Farmlands will open its third branch in the Bay of Plenty later this year as it continues to gain market share across the North Island.

Farmlands chief executive John Newland said today Farmlands would open a branch at Te Puna to support existing branches in Tauranga and Te Puke.

“This is a first for us – usually we close a store and open a bigger one. But consumer pressure in Tauranga has been increasing at such a rate that it justifies another store.

Based on Farmlands’ research the company expects the new store to generate $3m sales within the first year and the projected shareholder base to grow by at least 500 in the region.

The Bay of Plenty is an excellent example of the impact Farmlands is having on the bigger rural retail industry players as farmers are looking seriously at all their options.

Over the past few years Farmlands has definitely gained support from its new shareholders who have become disillusioned by uncertainty within the market, Mr Newland said.

The new Te Puna branch will bring the number of Farmland stores to 32 throughout the North Island. The company has nearly 20,000 shareholders and staff of 250.


© Scoop Media

Business Headlines | Sci-Tech Headlines


I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>


Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news