UPDATE: Warehouse shares drop 8% on 1H profit warning

Tue, 20 Dec 2016

By Rebecca Howard Warehouse Group shares dropped 8 percent to $2.87 after New Zealand’s largest publicly listed retailer said profit may fall between 10-and-15 percent in the first half of its financial year on a weaker-than-expected run up to Christmas. "We were a little surprised at the magnitude (of the downgrade). Obviously they have their challenges," said Paul Harrison, portfolio manager at Salt Funds Management. "They are facing all sorts of competitive threats from new entrants and also online." The retailer, known for its ge...

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