‘Disappointing’ – Forbarr keeps neutral rating for The Warehouse

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Mon, 02 Oct 2023

Analysts at wealth management firm Forsyth Barr say The Warehouse's full-year result was “disappointing” but still broadly in line with expectations.Forbarr analysts Margaret Bei and Andy Bowley said the disappointing operating result was primarily driven by a few factors, amongst them broad-based inflation, gross margin pressures, and the year-on-year revenue declines in all brands except The Warehouse. Increases in the cost of doing business from higher information system spending, depreciation, and lease costs had also i...

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