Mitre 10 lifts annual sales on Auckland DIYers, sees economic headwinds ahead

Mon, 21 Sep 2015

By Suze Metherell Sept. 21 (BusinessDesk) - Mitre 10, the homeware chain cooperative, lifted annual sales 8.7 percent as the Auckland real estate market helped fuel demand for do-it-yourself goods, but is now bracing for headwinds as the kiwi dollar weakens and economic growth slows. Network sales rose to $1.1 billion in the year ended June 30, from $1 billion a year earlier, the Auckland-based retailer said in a statement. Distributions paid to cooperative members rose 17 percent to $67.2 million. Mitre 10 widened its range and focu...

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