New Zealand retail group recovers some lost ground.

 

The Warehouse Group has reported sales growth for the third quarter, reversing the decline in the first half.

 

Group sales for the 13 weeks ended 28 April rose 2.2 per cent to NZ$710.5 million, with same-store sales up 2.4 per cent.

 

The Warehouse sales increased 1.9 per cent to $415.9 million, with same-store sales up 3.4 per cent.

 

Warehouse Stationery sales fell 3.3 per cent, while Noel Leeming recorded a 4.5 per cent uplift.

 

Average retail selling prices declined 4.3 per cent as part of the group’s investment into price, which resulted in a 7.2 per cent increase in units sold.

 

“The group’s February sales performance was strong, while March and April sales showed softer trends however still exceeded the same period last year,” said interim CEO John Journee (pictured).

 

The latest results have been described as "promising" following a disastrous 2024 perfomnce, described by the company as "one of its worst years on record".