Warehouse overhaul underpins record profit

Online and click-and-collect sales continue to grow. (Photo: Supplied)

Wed, 29 Sep 2021

The Warehouse Group reported a record result as its new business model adapts to meet changing customer needs.The company said adjusted profit was $175.5 million for the 52 weeks to Aug 1 versus $32.1m in the year earlier period. The adjusted figure excludes unusual items such as the $67.6m wage subsidy repayment and $16.1m of restructuring expenses.Reported net profit was $117.7m versus $44.5m in the prior year. “Full year 2021 has given us further confidence that our customer-led strategy is the right one,” said chief executi...

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