Warehouse 1Q sales drop 1.7% as discount stores change to 'everyday low pricing' model

Wed, 08 Nov 2017

By Tina Morrison Nov. 9 (BusinessDesk) - Warehouse Group's first quarter sales were weaker than the year-earlier period after the retailer changed the pricing strategy at its flagship 'red shed' discount department stores to "everyday low pricing". Sales fell 1.7 percent to $645 million in the first quarter ended Oct. 29, the Auckland-based company said in a statement. The Warehouse discount department stores posted a 5.2 percent decline in sales to $357.9 million while Warehouse Stationery sales dropped 7.2 percent to $59.1 million. In c...

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