New Zealand’s Warehouse Stationery has continued its resurgence with a modest 0.6 per cent increase in first quarter same-store sales to NZ$63 million.

 

The latest result follows a strong full-year performnce which saw revenues up 1.8 per cent to NZ$268.6 million.

 

The office products retailer, a division of the Warehouse Group, said it had recovered from its systems integration and stock availability issues and returned to historical levels of performance, delivering a full-year operating profit of NZ$16.7 million, up 54.7 per cent. Retail gross profit was a record NZ$118.6 million.

 

Warehouse Group CEO Nick Grayston said the stationery division’s first quarter sales had benefitted where the brand is integrated with a Warehouse store as part of its store-within-a-store strategy.

 

During the period, the group also launched an e-commerce site TheMarket, which now hosts more than 1700 brands and one million products.