13 Nov 2009

Warehouse sales drop slightly

10:57 pm on 13 November 2009

The Warehouse says first quarter sales have fallen slightly, as consumer spending remains fickle.

The country's largest listed retailer says group sales declined 1% to about $363 million for the three months to November, compared with the same period a year ago.

But when its now closed grocery operations are excluded, sales rose 1.2%, while sales at stores open at least a year grew 0.5%.

The Warehouse chief executive Ian Morrice says trading has been disappointing, but he's confident the group is well placed for the crucial Christmas period.