Warehouse Group reports 2.2% sales increase

The Warehouse Group has reported a 2.2% increase in group sales for the third quarter of the 2024-25 financial year.

Sales reached $710.5 million, compared to $695.5m in the same period last year.

The increase in sales was driven by a 1.9% rise in sales at The Warehouse, as well as a 4.5% increase in sales at Noel Leeming.

However, sales at Warehouse Stationery were down 3.3%.

The company's market share of core retail grew by 50 basis points, reaching 15.8%.

Group gross profit was $223.3m, down 2% from the prior year.

The Warehouse Group said it anticipates subdued consumer demand for the remainder of the financial year, due to tight economic conditions and global uncertainty.