Warehouse strategy 'gaining traction' as 3Q sales beat expectations, Morningstar says

Mon, 14 May 2018

By Tina Morrison May 14 (BusinessDesk) - Warehouse Group increased sales more than Morningstar expected in the third quarter, prompting the investment research company to lift its estimate for the retailer's full-year sales and earnings. New Zealand's dominant discount retailer announced on Friday that group sales increased 2.6 percent to $701.2 million in the quarter ended April 29, in line with its own expectations and keeping intact its forecast for full-year earnings of $50 million-to-$53 million, a decline of about 25 percent from th...

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