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Speaker 1: Now when I say Brisco's, you imagine a big store,

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Speaker 1: right with rows and rows of towels and pots and pillows. Well,

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Speaker 1: the company is now adding fifteen mini metro stores to

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Speaker 1: its lineup to boost sales.

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Speaker 2: Brisco's first quarter.

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Speaker 1: Sales were down two point six percent, but its business

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Speaker 1: is largely held up when much of the retail sector

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Speaker 1: has really been struggling of late. Brisco Matt Group Managing

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Speaker 1: Director Rod Duke is with.

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Speaker 2: Us now, Hay Rod, Hi, how a, you're doing very well.

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Speaker 2: Thank you know what's the thinking behind these mini stores?

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Speaker 3: Well, it's part of our strategic look forward. So what

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Speaker 3: brought me do to increase outreach through New Zealand given

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Speaker 3: that the only thing we've got left is relatively smaller catchments,

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Speaker 3: And so we're on a path to develop a smaller

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Speaker 3: unit which will address these the smaller catchments.

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Speaker 2: Yeah, like, where are you thinking, Well, there's.

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Speaker 3: Probably about a dozen locations. I'll give you a couple

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Speaker 3: of examples. Tower Ager. I've got one store in Toweroger.

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Speaker 3: It's a pret big catchmant. But I've got one store

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Speaker 3: downtown which addresses some of the over the bridge catchment.

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Speaker 3: But there's much larger catchment developing further out towards Bethlehem.

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Speaker 3: We've got one store. Could we put another two minis

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Speaker 3: in there? Yeah? I think we probably could. And that's

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Speaker 3: the sort of thing we're looking at.

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Speaker 2: What about city centers, for example Auckland.

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Speaker 3: Yeah, we've got a yea, we've got a downtown rebel

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Speaker 3: at present, but.

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Speaker 1: That's not a Briscoes and Briscoes is my jam.

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Speaker 3: Yeah, I know, but look we are looking. But at present,

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Speaker 3: they landlords have got stars of their eyes at the moment.

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Speaker 3: So look we're looking.

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Speaker 2: We're like to god, is it that the landlords are

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Speaker 2: just charging too much?

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Speaker 3: Yeah? Yeah, it's just some of the some of the

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Speaker 3: sites we have looked at, it's just unprofitable. I just

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Speaker 3: can't make any money.

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Speaker 2: Is this is this Auckland Central? Are we talking around?

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Speaker 3: You know?

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Speaker 2: The Queen Street type areas, those kinds of places.

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Speaker 3: Not necessarily Queen Street, but certainly in the in the

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Speaker 3: adjacent streets and things we're looking at. We'd like one

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Speaker 3: in downtown Auckland because look, there's a lot of apartments

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Speaker 3: down there's a lot of people enjoying city living at present.

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Speaker 2: What about Ponsonby Road asking for a friend?

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Speaker 3: Yeah, I live nearby, that'll be handy for me as well.

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Speaker 2: We could meet up there.

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Speaker 3: Yeah, look, we could.

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Speaker 1: You have to.

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Speaker 3: There's a lot of smaller units there and they're individually

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Speaker 3: held and so it's it's hard to get you know,

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Speaker 3: a thousand square meters on the ground adjacent to one another.

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Speaker 3: But look, we're downtown in Wellington, we're downtown in christ Church.

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Speaker 3: So we've got downtowns in some of the big centers organized,

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Speaker 3: but but not all. Look, Hamilton's another one. You know,

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Speaker 3: we're only on the north side. There's still lots of

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Speaker 3: housing on the on the east, west and southern side

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Speaker 3: of Hamilton, but it's just a bit tough to get

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Speaker 3: the right sized and right appropriate locations.

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Speaker 1: Yeah, I bet now this this distribution sense that you've

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Speaker 1: got lined up, it sounds like a game changer.

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Speaker 2: How big is this thing going to be.

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Speaker 3: It's going to be about five or six times bigger

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Speaker 3: than we've got. It's going to be, as you say,

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Speaker 3: a game changer for us because we've lived in relatively

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Speaker 3: modest sized DC center in just Auckland, and so yeah,

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Speaker 3: we've got the the the problems of when stock comes in,

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Speaker 3: it's just got to go somewhere quick, so it just

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Speaker 3: goes into the stores, and quite frank after it's got

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Speaker 3: too much stock.

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Speaker 1: In the stores, and so and and presumably if it's

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Speaker 1: landing in the stores, then it's not necessarily in the

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Speaker 1: right store. And some stores are selling out faster than

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Speaker 1: they need to, truan, so it's just like you'll be

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Speaker 1: double handling things the whole time.

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Speaker 3: Yeah, you're right. Look, my my interest store transfer is

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Speaker 3: just to balance the stock up is about nine hundred

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Speaker 3: thousand dollars a year. Yeah, so that was that will

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Speaker 3: just fall off completely. Yes, that's I don't worry. Yeah,

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Speaker 3: the building right.

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Speaker 1: Listen on the budget, are you is anything that you're

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Speaker 1: looking looking to in the budget? Anything you want out

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Speaker 1: of it?

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Speaker 3: Look, I just like a couple of nice, big items

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Speaker 3: so I can be convinced that the company is actually

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Speaker 3: doing something and looking to achieve something. I think that

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Speaker 3: I think right now they're working on a lot of

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Speaker 3: fronts and trying to complete a lot of stuff at

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Speaker 3: one time. So I just look for some guidance from

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Speaker 3: them that they're they're onto something like what, well, well,

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Speaker 3: let me get some exclusions, you know, kepal gains tax,

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Speaker 3: wealth tax, you know, I think that's that's probably not

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Speaker 3: on their cards anyway. But I'd like to see some

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Speaker 3: infrastructure spending. You know, I think I notice Australias recently

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Speaker 3: have gone into toll roads and that sort of thing.

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Speaker 3: If the government can't afford it, and then look, someone

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Speaker 3: else can and there'll be a toll on it for

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Speaker 3: a period.

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Speaker 2: Did I detect a hint of frustration at the government

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Speaker 2: in your voice before?

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Speaker 3: Ah? Look, I thought, Look, I think I think we

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Speaker 3: all appreciate that the that the situation they walked into

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Speaker 3: was pretty ugly and they needed to do something, and

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Speaker 3: they needed to sit down and think about it and

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Speaker 3: do something sensible. But it looked like most of us,

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Speaker 3: it's just about time and elections rolling up not that

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Speaker 3: far away. It'd be nice to see, nice to see

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Speaker 3: the government kicking a few goals, and you know, that's

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Speaker 3: that's I think all of us.

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Speaker 2: Will say some significant stuff. Rod, it's always wonderful to

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Speaker 2: talk to you. Thank you so much. Go well.

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Speaker 1: I'm looking forward to one of your Briscos popping up nearby.

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Speaker 1: That's Rod Duke, managing director of the Brisco Group.

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