27 Nov 2009

Warehouse expects last-minute Christmas spending

1:14 pm on 27 November 2009

The country's largest listed retailer, The Warehouse, is expecting people to leave their Christmas shopping to the last minute.

At its annual meeting, chief executive, Ian Morrice said the retailer was expected a "late and big Christmas" and that the post Christmas period may be "bigger than last year."

He reiterated to shareholders that he doesn't expect trading conditions to be easy.

Recent economic news shows retail spending remains subdued despite strong consumer confidence.

Mr Morrice says the retailer is cautious about the pace and strength of a recovery.

The Warehouse has said it will give a full year earnings forecast when it reports its second quarter results in March.