Analysts see no bargain at The Warehouse

(Image: The Warehouse)

Mon, 11 Nov 2024

Forsyth Barr analysts have cut their 12-month target price on The Warehouse Group by 14% and rate the stock at "underperform".Analysts Paul Laxton Koraua and Rohan Koreman-Smit said the company’s latest trading update provided another reminder of how challenging operating conditions are for domestic retailers.On Friday, the group reported total sales of $668 million for the 13 weeks to Oct 27, a decrease of 2.5% compared with the same period last year.Sales declines across all of its brands continue, and competitive pricing...

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