Warehouse warns margin squeeze, investment programme will trim first-half earnings

Thu, 21 Nov 2013

By Paul McBeth Nov. 22 (BusinessDesk) - Warehouse Group, the country’s biggest listed retailer, expects lower first-half earnings as margins at its flagship Red Sheds come under pressure and it spends more on adjusting to a new competitive environment. Adjusted net profit after tax is expected to be below $46.7 million in the first half after sales growth at its Red Sheds in the first quarter didn’t translate into larger earnings. Also contributing to a more muted performance outlook is the retailer’s investment in an expanded online presen...

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