The Warehouse Group Limited (NZX: WHS) Third Quarter Sales Update

Friday 14th May 2021

The Warehouse Group (“TWG”) is reporting its third quarter (“Q3 FY21”) sales update, predominantly compared to results of the third quarter in FY19 (“Q3 FY19”) to reflect a clearer performance comparison than against Q3 FY20, which was strongly affected by disruption to operations and store closures caused by COVID-19.

Highlights

• Group third quarter sales were $791.2m, up 35.0% on Q3 FY20, and up 10.8% on Q3 FY19

• The Warehouse third quarter sales were $409.9m, up 6.1% on Q3 FY19

• Warehouse Stationery third quarter were $71.8m, up 0.4% on Q3 FY19

• Noel Leeming third quarter sales were $263.0m, up 21.2% on Q3 FY19

• Torpedo7 third quarter sales were $35.4m, up 29.9% on Q3 FY19

• Online sales were up 59.7% in Q3 FY21 compared to Q3 FY19, representing 10.8% of total group sales in the quarter, compared to 7.5% in FY19

• Group gross profit margin was 35.5% for Q3 FY21, up 295 basis points on Q3 FY20 and up 196 basis points on Q3 FY19

The Warehouse Group today reported sales for the third quarter ending 2 May 2021 of $791.2 million, up 35.0% on the same quarter last year, and up 10.8% on the same quarter in FY19. Group sales for the year to date ended 2 May 2021 were $2,599.5 million, up 14.5% on the same period last year, and up 10.4% on the same period in FY19.

Guidance for FY21

As a result of the strength of trading through to the end of Q3, and the expectation that Q4 FY21 Group sales will be similar to Q3 FY21, adjusted NPAT for the full year is expected to exceed $160 million, subject to no material changes in trading conditions. Gross margin levels are consistent with those achieved during the first half of the financial year.

Please see the links below for details

Third Quarter Sales Update Release

Q3 Sales Update

Source: The Warehouse Group Limited

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