23 Nov 2012

Higher earnings expected by The Warehouse

12:39 pm on 23 November 2012

The Warehouse expects its adjusted earnings for its full year to exceed the 2012 result.

The company has posted an adjusted earnings result of $99.7 million in the last financial year.

At its annual meeting on Friday, the company said underlying non-food retail was showing signs of gradual improvement, and it expects this to continue.

The company is a year into a turn-around strategy which includes more investment in its stores, as well as improving its products and brands.

Two stores were also opened during the first quarter at Silverdale and Royal Oak. Another will open in Mt Roskill in January.

The Warehouse will update its earning guidance at its half year results in March next year.