‘Disappointing’ – Forbarr keeps neutral rating for The Warehouse

(Image: File)

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...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Health

Coke’s new cane-sweetened soda risks upending sugar supplies

The move is hardly an outlandish idea.

Bloomberg 5:00am

On the Money

On the Money: Butter, Meat, Water, and more

Pricey butter, quality meat, and some water, what more do you need in NZ?

Dileepa Fonseka 26 Jul 2025

On the Money: Butter, Meat, Water, and more

Markets

Eden Bradfield: The pros and cons of Sky’s big deal

You'd best hope streaming and advertising revenue make up for the $1 purchase.

Eden Bradfield 26 Jul 2025

Sponsored

Global real estate without the passport or paperwork

A global ETF offers access to income-generating real estate like data centres, healthcare and logistics warehouses – all in New Zealand dollars.

Blackrock, Smart Invest

Sponsored

‘Make Today the Day’: Why on-the-job training is the key to NZ’s service recovery

Covid gutted New Zealand’s service workforce. Training is the fix – and the future.

ServiceIQ

More Retail

Finance

Time ripe to stop forex fees confusion

Misleading 'fees free' foreign exchange deals are costing Kiwis.

Pattrick Smellie 22 Jul 2025

Retail

Warehouse reshuffles exec team

The Warehouse Group has reshuffled its executive team ahead of its leadership transition at the end of the month.On Friday, the retail group appointed Stefan Knight as chief financial officer. Knight will exit his role as financial director at Spark New Zealand and start on Aug 1...

Staff reporters 18 Jul 2025