The Warehouse Group FY23 First Quarter Sales Update

The Warehouse Group Limited (“the Group”) today reported strong total Group sales of $764.7 million for the FY23 first quarter ending 30 October 2022, up 21.2% on the same quarter in FY22, and up 12.3% on the same quarter in FY20 (pre-COVID).

Group CEO Nick Grayston said the result was a positive start to FY23 and continues the momentum seen in the second half of FY22, as New Zealanders shopped for value across The Warehouse's 249 stores and strong online platforms.

The Warehouse had a record quarter with sales of $414.6 million, up 39.0% compared to FY22 Q1, and up 12.4% compared to FY20 Q1 (pre-COVID).

Grocery sales increased 76.2% and homeware sales up 32.2% compared to the prior year quarter.

TheMarket.com also saw strong growth with 47 million online sessions in the last 12 months, and MarketClub loyalty programme has nearly 800,000 members across The Warehouse and TheMarket.com platforms.

The Warehouse Group also announced a fully imputed final dividend of 10.0 cents per share.

The record date for the FY22 final dividend is 17 November 2022