Warehouse FY earnings fall 14 percent as margins shrink in ‘mixed’ retail environment

Thu, 06 Sep 2012

Sept. 7 (BusinessDesk) - Warehouse Group, the biggest retailer on the NZX 50 Index, reported a 14 percent drop in full-year earnings, meeting its own guidance, and said it expects retailing to face "mixed" trading conditions in 2013. Profit before one-time items was $65.2 million in the 12 months ended July 29, down from $76 million a year earlier, the Auckland-based company said in a statement. Sales rose 3.9 percent to $1.7 billion. In May, the company said full-year adjusted net profit after tax would be $62 million to $66 million and an...

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