New ETF Book by Larry Connors - Click here to read more
The Australian and New Zealand-listed retailer on Friday reported a 2.8 per cent fall in third quarter sales to NZ$383.5 million (US$226.45 million) for the three months to April 26 compared with the same period a year earlier.
Third quarter sales last year included sales of fresh and frozen foods and liquor, which have been discontinued.
Same-store sales for the quarter were up one per cent compared to last year.
"The directors' view remained that adjusted net profit for the full year would be similar to that for the previous year, subject to any adverse change in trading conditions," the company said on Friday in a statement.
In fiscal 2008 The Warehouse Group posted a net profit of NZ$90.77 million for its fiscal year to July 27, which was down from NZ$114.83 million in the previous 12-month period.
Chief executive Ian Morrice said consumer demand remained soft in the three months to April 26 but The Warehouse had made significant progress towards improving its market position.
"Despite a slower than preferred start to winter we are confident that our strong seasonal offer will support continued positive momentum," he said in a statement on Friday.
Group sales for fiscal year to date (May 8) were NZ$1.3 billion, down 2.9 per cent on the same period period last year.
The Red Sheds third quarter sales dropped 1.5 per cent to NZ$332.4 million, with sales down 2 per cent to NZ$1.17 billion for fiscal year to date.
Mr Morrice said the stationery and office products sector remained difficult, with higher-ticket technology, office equipment and furniture sales down significantly on last year.
Warehouse Stationery's third quarter sales were down 10.5 per cent to NZ$51.1 million, while sales were down 9.2 per cent to NZ$139.6 million for the fiscal year to date.
Same-store sales for the quarter were down 9.9 per cent.
The full year result for the year to August 2 will be released on September 11.
At 1434 AEST shares in The Warehouse Group were untraded at A$3.00 (US$2.25).
(AAP)
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.
