Wage and covid costs hammer Warehouse Christmas trading

Staff reporters
Mon, 10 Jan 2022

(Image: supplied)
(Image: supplied)
Staff reporters
Mon, 10 Jan 2022
The Warehouse Group expects its first-half net profit to be sharply lower on the year on higher costs, supply constraints and the impact of covid-19.Based on actual sales for the first five months of the financial year to Jan 2 the group expects adjusted net profit for the first half of the year to exceed $40 million, it said. This compared to $111m in HY21 and $46.2m in the first half of the 2020 financial year.The cost of doing business was expected to be $35m higher in the half-year, reflecting higher store labour costs, increased investment...

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