Half-year profit at The Warehouse has taken a hit from costs associated with its exit from food and liquor sales.
Net profit for the discount retailer fell 24% to $49 million in the six months ending January, compared with the same period last year.
When excluding the $7.4 million of exiting food and liquor sales, profit was steady at $56.8 million.
Sales decreased by almost 3% to $923.5 million, led down by electronic goods and stationary.
Chief executive Ian Morrice is pleased that underlying business is steady, despite lagging consumer spending.