The Warehouse Group says sales were impacted due to extended lockdowns in New Zealand though omnichannel earnings boosted margins.
What happened
The Warehouse Group says while extended Covid-related lockdowns impacted overall sales, online contributed 15.3 per cent of total revenue in the year to July.
Why it matters
The group owns and operates The Warehouse ‘red sheds’, Noel Leeming, Torpedo7, Warehouse Stationery, and The Market.
For the year to July 31, group sales fell 3.5 per cent to $3.3 billion while tax-paid profit declined 18.3 per cent to $89.3 million. Auckland stores remained closed for 23 per cent of the reporting period, or 84 days in total.
Online sales brought in $503.3 million, increasing by 39.8 per cent year on year. Across all brands, click and collect grew 54.9 per cent and accounted for 49 per cent of group sales.
This news brief is based on reporting published by InternetRetailing Australia on 2022-09-29. The original report is linked below.
InternetRetailing Australia
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