The Warehouse Group – FY23 Q2 year to date trading update

The Warehouse Group has released a trading update for the second quarter of FY23, showing total Group sales for the period from 31 October to 26 December 2022 decreasing 5.5% compared to the same period in FY22.

Group gross profit margin for the period was down approximately 300 basis points compared to the same period in FY22.

Year to date Group sales in FY23 were up 6.4% on the same period in FY22.

The Group expects gross profit dollars to be broadly in line with FY22, however cost of doing business (“CODB”) including depreciation is expected to be $20m - $27m higher than FY22.

The Group’s FY23 half year result will be released on Tuesday 21 March 2023.