Warehouse Group reports $54.2m net loss in 2023

The Warehouse Group has reported a decline in sales and a net loss after tax for the 2023 financial year.

Total group sales reached $3 billion, down 6.2% compared to the previous year.

The Warehouse, Warehouse Stationery, and Noel Leeming all experienced lower sales.

Adjusted net profit after tax was $18.9 million, a decrease from $57.4m in FY23.

The company also reported a net loss after tax of $54.2m, compared to a profit of $29.8m in the previous year.

However, the gross profit margin remained flat at 33.6%.

The company's net debt stood at $50.7m.