23 Jun 2014

Clothing bargains in store for shoppers

8:11 am on 23 June 2014

Shoppers at The Warehouse can look forward to plenty of bargains on clothing this winter due to the unusual and sustained warm temperatures this autumn and winter.

Shoppers at the Warehouse can look forward to plenty of bargains on clothing this winter due to the unusual and sustained warm temperatures this autumn and winter.

The Warehouse says it now expects its annual profit to be lower than it was predicting back in March.

Chief executive Mark Powell said his company's net profit for the year will come in between $59 million and $62 million, down from the previous forecast of between $67 million and $71 million.

Mr Powell said the weather had played a big part in this and it will be evident across the market particularly in the area of apparel.

He said in this season there has not been enough sales growth but the Warehouse believes it is only a short-term issue.

Mr Powell said Noel Leeming, Warehouse Stationery and Financial Services are all performing in line with expectations.