Sharechat Logo

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

Friday 13th November 2020

Text too small?

The Warehouse Group (NZX: WHS ) today reported sales for the first quarter ending 1 November of $738.5 million, up 6.3% on the same quarter last year. Gross margin percentage has also been strong, up circa 170 basis points on Q1 last year.

Highlights

• Group sales of $738.5 million, up 6.3% on Q1 FY20

• Strong sales growth particularly for Noel Leeming, up 11.5%, and Torpedo7, up 41.8%

• Same store sales growth across all brands

• Online sales growth of 58%, representing 11.3% of Group sales for the quarter

Group CEO Nick Grayston said the result is a positive start to FY21 and continues the sales momentum of the final quarter of FY20. The business is trading well, particularly given the uncertain and unpredictable economic environment and we are now focused on continuing this momentum as we head into the second and largest summer trading quarter, said Mr Grayston. As we saw at the end of the FY20 year, Group online demand continued to grow in the first quarter of FY21 with sales of $83.7 million, up 58% compared to the same quarter last year. Online sales as a percentage of total Group sales increased from 7.6% to 11.3%, with all Group brands experiencing significant online growth.

As in previous years, the earnings outlook for FY21 will be dependent on the critical second quarter trading period and earning guidance will be considered on announcement of the Group’s interim results. The Annual Shareholder Meeting will take place on Friday 27 November 2020.

See the links below for more details

First Quarter Sales Update

Amended First Quarter Sales Form

Source: The Warehouse Group Limited



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Me Today Limited (NZX: MEE) Me Today Renews and Expands Agreement with Green Cross Heal
Cannasouth Limited (NZX: CBD) Preliminary Results for the Year Ended 31 December 2020
The Warehouse Group Limited (NZX: WHS) Trading Update
Seeka Limited (NZX: SEK) Announces 12 Cent Dividend
Meridian Energy Limited (NZX: MEL) Standard & Poor's Outlook Revision
NZ Windfarms Limited (NZX: NWF) Interim Report and Results Announcement H1 FY2021
Cavalier Corporation Limited (NZX: CAV) Preliminary FY21 Half Year Result
Restaurant Brands New Zealand Limited (NZX: RBD) Full Year Results Announcement
Precinct Properties New Zealand Limited (NZX: PCT) Quality Portfolio Delivers Strong First Half Result
Solution Dynamics Limited (NZX: SDL) 1H FY2021 Financial Results and Interim Dividend

IRG See IRG research reports