Latest news with #WarehouseStationery
RNZ News
08-05-2025
- Business
- RNZ News
Warehouse sales improve but profits down after persistent discounting
Interim chief executive John Journee says the results show the team's dedication to winning back customers. Photo: SUPPLIED The Warehouse says it's seeing encouraging signs as sales improved in the third quarter as it offered discounts, but that's led to a lower profit . Key numbers for the 13 weeks ended April 27 compared with a year ago: Interim chief executive John Journee said its February sales were strong, while March and April were softer , but were better than the same period last year. Persistent discounting in the retail sector, combined with mark-downs to clear seasonal merchandise, lowered The Warehouse Group's gross profits and margins. "This positive headway is a direct result of our team's dedication to winning back customers with enhanced products and value," Journee said. "New on-trend homeware and apparel ranges, and better value everyday essentials are resonating well with customers." Its Red Sheds quarterly sales rose 1.9 percent from a year ago to $415.9 million, Warehouse Stationery sales fell 3.3 percent to $58.8m, and Noel Leeming sales improved 4.5 percent to $234.9m. However, Journee said a warmer autumn had led to a slow start to winter merchandise sales. "If sustained, [it] may negatively impact our planned Q4 performance." The Warehouse expected consumer demand to remain subdued in 2025 as tight economic conditions and global uncertainty eroded consumer confidence. The company left its second half guidance unchanged. Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
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National Business Review
08-05-2025
- Business
- National Business Review
Warehouse Group reports ‘encouraging' third quarter
The latest figures from the Warehouse Group show sales moving in a positive direction. In a trading update for the third quarter ending April 27, the NZX-listed retailer behind The Warehouse, Warehouse Stationery, and Noel Leeming reported sales up 2.2% to $710.5 million from $695.5m, year on year.
