The Warehouse Group Trading Update

The Warehouse Group Limited has reported positive Christmas sales, but with COVID-19 impacts remaining.

Group sales for the first five months of FY22 were down 5.7% compared to the same period in FY21, with only 2 weeks of the quarter not impacted by the COVID-19 lockdown levels.

Gross profit margin for the first five months of FY22 was 55bps lower than the same period in FY21 but up 132bps compared to FY20 with online sales up 105% on the same period in FY21.

Adjusted Net Profit After Tax (NPAT) for HY22 is expected to exceed $40m, $70m lower than HY21, with cost of doing business expected to be $35m higher in the half-year and gross profit margin impacted by reduced discounting.

Further detail will be provided with the Group’s FY22 half year results, which will be announced on Tuesday 22 March 2022.