Parent company on track to continue turnaround.

 

The Warehouse Group expects a significant increase in its operating profit for FY26, supported by improvements at Warehouse Stationery and appliance retailer Noel Leeming.

 

The group’s operating profit is forecast to be in the range of NZ$20 million to NZ$24 million for the year ended 2 August , compared to NZ$1.3 million in FY25.

 

This reflects modest improvement in gross profit margin achieved by Noel Leeming and Warehouse Stationery, as well as sustained cost discipline across the group.

 

Warehouse Stationery sales were down 2.9 per cent in Q3 to NZ$57.1m, but up 3.1 per cent on same store sales.

 

The parent company noted that the guidance remains subject to the completion of its year-end processes. The group will release its annual results on 30 September.

 

The Warehouse division recently launched  the ‘This Is Warehouse Country’ campaign as part of its turnaround and transformation program.

 

The campaign features the Māori phrase ‘Ko Te Warewhare Te Kāinga’. 

 

The use of te reo Māori is part of The Warehouse’s efforts to help normalise the indigenous language of Aotearoa New Zealand.