Warehouse lifts 1Q sales by 3.5%, fattens margins at 'Red Sheds'

Warehouse lifts 1Q sales by 3.5%, fattens margins at 'Red Sheds'
By Paul McBeth Nov. 7 (BusinessDesk) - Warehouse Group, the country's biggest listed retailer, lifted first-quarter sales 3.5 percent, opening more Noel Leeming and stationery stores, and widened margins at its dominant 'Red Shed' unit. Group sales rose to $589.4 million in the three months ended Oct. 26, from $569.8 million in the same period a year earlier, the Auckland-based company said in a statement. Sales at its dominant 'Red Shed' unit rose 1.3 percent to $359.2 million with new season launches in its home and leisure section a...