'Tough year': The Warehouse net profit slumps 66.6%

'Tough year': The Warehouse net profit slumps 66.6%
A tough year for The Warehouse and its customers. (Image: File)
Ella Somers
The Warehouse Group’s reported net profit for the full 2023 financial year dived 66.6% as wallets shrank from hungry inflation.Chief executive Nick Grayston said inflation was “significantly impacting” margin as well as driving up the cost of doing business.However, the retailer’s board chair, Joan Withers, still declared a fully imputed final dividend of 8 cents per share, which she said was in line with the group's policy to “distribute at least 70% of adjusted net profit after tax&rd...

More Markets

NZ shares finish flat as Sanford rises
Markets Market close

NZ shares finish flat as Sanford rises

Trading was heavy for a Friday with 38.56 million shares worth $193.38m changing hands.

Graham Skellern 15 Nov 2024
2 Cheap Cars profit down nearly 50%
Markets

2 Cheap Cars profit down nearly 50%

The CEO says he's never seen a market this volatile since founding the firm.

John Anthony 15 Nov 2024
Slump in NZ dollar shows no sign of abating
Markets

Slump in NZ dollar shows no sign of abating

The next near-term support level is at 57.75 US cents. 

Rebecca Howard 15 Nov 2024
Steel & Tube blames weak economy for four-month loss
Markets

Steel & Tube blames weak economy for four-month loss

Steel & Tube says it went into an operating loss of $5 million in the first four months of its financial year, with revenue falling sharply over the period due to low demand for steel.In a trading update, Steel & Tube said the first four months showed the weakness in the New Zeal...

Staff reporters 15 Nov 2024