Retail

The Warehouse steps up IT, refurbishment investment

Jenny Ruth
Wed, 23 Mar 2022

The Warehouse steps up IT, refurbishment investment
Chief executive Nick Grayston said his company has suffered because of under investment. (Image: supplied)
Jenny Ruth
Wed, 23 Mar 2022
A key revelation in The Warehouse's first-half results was its major step-up in capital spending, partly on store refurbishments but also on major upgrades to its IT systems.The company spent $57.4 million on capital projects in the six months ended Jan 30, up from $40m in the same six months a year earlier, with more than 62% going on various IT projects.Annual capital spending in the previous year jumped to $85m from $63m in 2020, but this year it's expecting to spend close to $135m.Chief executive Nick Grayston said one of the things...

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