10 May 2013

Warehouse Q3 revenue up

12:25 pm on 10 May 2013

The Warehouse Group has reported a rise in revenue for quarterly trading due to stronger sales and improved margins in apparel.

Sales for the group rose 6.2% to $418.7 million in the three months to April, compared with the same period a year ago.

For the three quarters, sales were up 5.1% to almost $1.4 billion.

Third quarter sales at stores of the Red Sheds open for more than a year were up 2%.

The company said its apparel business performed well during the summer, with less clearance of stock undertaken resulting in better margins.

Same store sales at its Stationary arm rose 1.9% due to solid technology sales.

Shares fell 4 cents to $4.34 each.