Investors await Christmas trading for proof of Warehouse turnaround strategy; shares fall

Thu, 06 Sep 2012

By Hannah Lynch Sept 7 (BusinessDesk) – Investors want to see how Warehouse Group fares over the peak Christmas season before judging its turnaround strategy, after the biggest retailer on the NZX 50 Index met guidance with a 14 percent drop in 2012 earnings. The stock fell today. Profit before one-time items was $65.2 million in the 12 months ended July 29, down from $76 million a year earlier, the Auckland-based company said in a statement. Sales rose 3.9 percent to $1.7 billion. That's in line with the retailer's May forecast of an adjust...

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