Warehouse Group shares fall after Torpedo sold for $1 to Tahua

Warehouse shares have been slipping for some time. (Image: NZME)

Thu, 22 Feb 2024

Warehouse Group shares fell 2.3% to $1.25 after the company announced the sale of outdoor brand and retailer Torpedo7 to Tahua Partners Limited for $1.Torpedo7 is the latest acquisition for Tahua, a consortium that manages Burger King, Starbucks, Hannahs, Hush Puppies and Number One Shoes.The Warehouse Group told the market it sold Torpedo7 - which accounted for 5% of the group’s sales - to focus on its core businesses The Warehouse, Warehouse Stationery and Noel Leeming.The group also operates e-commerce marketplaces 1-day and The Market...

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