The Warehouse forced back to basics

The Warehouse forced back to basics
The Warehouse's now former boss Nick Grayston, jargoning to the end. (Image: The Warehouse)
Rebecca Stevenson
Late on Friday, at a time most inconvenient to investors, The Warehouse chief executive Nick Grayston quit. When he started at the retailer in 2016, The Warehouse shares were trading at about $2.60. On Monday, they were trading at $1.23. The company achieved record sales in the last year. But profit plummeted. Its outlook is now grim, warning its second-half performance could be worse than its first.  It sold the Torpedo7 business for $1. It junked its multi-million-dollar investment in its e-commerce third-party player, The...

More Markets

Smart CEO Anna Scott resigns
Markets

Smart CEO Anna Scott resigns

Anna Scott will take up her new role on October 1.

Fonterra’s NZ milk collections hit five-year high
Primary Sector

Fonterra’s NZ milk collections hit five-year high

The increased production comes as forecast milk prices point to record levels.

Retailers say unseasonable weather compounded woes
Retail

Retailers say unseasonable weather compounded woes

The Warehouse Group and KMD Brands have both downgraded guidance in recent weeks.