13 Sep 2010

Warehouse will ramp up online business

11:47 am on 13 September 2010

The Warehouse plans to continue ramping up its online store this year, as a way to boost sales and lure more customers to its red sheds.

The country's largest retailer made an underlying profit of $83 million in the year to the beginning of August, 2.5% less than the previous year.

Chief executive Ian Morrice says thewarehouse.co.nz has performed well in its first year of operation.

Mr Morrice, who expects to have 20,000 items available for sale online by Christmas, wants to expand the virtual store's product range.

He says he expects the online business to grow to the size of one of its largest stores within four years, with annual sales of about $30 million.