Warehouse pares back further amid NZ retail reckoning, TheMarket.com to be dropped

Warehouse Group CEO Nick Grayston and chair Joan Withers. (Image: Supplied)

Wed, 20 Mar 2024

As retail earnings season rolls on, so does the misery for retailers.The Warehouse Group (WHS) told the New Zealand stock exchange (NZX) it intends to “sell or close” its e-commerce division, TheMarket.com, after what chief executive Nick Grayston described as a “sobering” first half trading period.After Wednesday's interim earnings report for the six months to Jan 28, Grayston told BusinessDesk the changing economic environment and increased competition from the likes of Shein and Temu have changed the equation.'...

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