Retail
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Warehouse lifts Q3 sales 1.9%, Red Sheds' same-store sales up 1.7%
By Jenny Ruth May 10 (BusinessDesk) - The Warehouse Group says its third quarter sales rose 1.9 percent with its flagship Red Sheds brand returning to positive same-store sales growth. The latest result follows 2.7 percent growth in first-half sales. “We’re encouraged th...
Economy
NZ commodity prices extend gain in April, March figures revised higher
By Rebecca Howard May 6 (BusinessDesk) - New Zealand commodity prices lifted in April and were significantly higher in March than previously reported, ANZ Bank’s monthly commodity price index shows. The ANZ world commodity price index lifted 2.5 percent in April, following...
Comvita shares tumble as it says honey production season was poor overall
By Rebecca Howard May 6 (BusinessDesk) - Comvita shares fell 9.3 percent after it said honey production had been "poor overall" for the third season in a row and it now expects a net loss of around $6 million for the year. The shares recently traded at $3.80 and are down 1...
Briscoe warns accounting change and margin squeeze may knock profit
By Paul McBeth May 6 (BusinessDesk) - Briscoe Group says it may struggle to deliver another record profit as accounting rule changes reduce earnings already facing a squeeze from higher wages and increased costs. Accounting rule changes to how firms can treat leases reduce...
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