Warehouse warns 1H earnings to fall by up to 13 percent

Wed, 22 Jan 2014

By Paul McBeth Jan. 23 (BusinessDesk) – Budget retailer Warehouse Group is warning its first-half profit will fall by as much as 13 percent after strong Christmas sales failed to compensate for a margin squeeze in the first quarter, higher funding costs, and reduced rental income. Adjusted net profit will be between $46 million and $48 million in the first six months of the retailer’s financial year, to January, from $52.9 million a year earlier, the company said in a statement. Half of the reduction in first-half earnings was due to increa...

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