Warehouse Group, the country's biggest listed retailer, has boosted first-quarter sales 1.9%, with its Blue Shed stationery stores leading growth as its Red Sheds report a flat result.
Group sales rose to $377.3 million in the three months ended October 28 from $370.4 million in the same period a year earlier, the Auckland-based company says in a statement.
Sales at its Red Shed stores edged up 0.8% to $325.7 million and were flat on a same-store basis, while the stationery outlets' revenue climbed 9.1% to $51.6 million. The Blue Sheds' sales rose 3.7% on a same-store basis.
"While same store sales in September and October were lower than the prior corresponding months, largely due to the cycling against the Rugby World Cup, the Warehouse sales performance in August was very strong and we are set up very well to enter the important second quarter," chief executive Mark Powell says.
"I am confident that our decision to remove some of our home appliance and whiteware products from sale, while having a short-term impact, is clear evidence of the Warehouse putting the customer first, which will benefit overall brand perception in the long-term."
In September, the retailer reported a 14% drop in full-year earnings to $65.2 million, in line with guidance, and flagged mixed trading conditions for the 2013 year.
Warehouse reported a 138% lift in sales through online channels and last month launched its own web-based promotions.
Chairman Graham Evans says the quarter was a mixed one, but the board still backs the company's strategy will deliver value to shareholders.
The shares rose 0.3% to $3.12 in trading on Friday and have gained 4% this year.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- Fonterra targets doubling of China revenue within five years
- NZ dollar gains as futures market points to pick up in dairy prices, US holiday looms
- UPDATED: Fonterra shareholders evenly split on shrinking board
- Smartpay first half profit slumps 90%
- Eroad takes a knock in Oregon, but on-track for full-year
Most listened to
- Trilogy International CEO Angela Buglass on tripling her profit
- Eroad CEO Steven Newman talks about his company's revenue increase
- What do the latest terrorism attacks in Mali and Israel mean? Nathan Smith discusses the latest foreign affairs news
- NZ Windfarms departing director Michael Stiassny speaks out after board exit
- James Mayo talks about SOS Hydration's growth plans after Snowball offer
- Michael Wood on whether he would run in Mt Roskill
- SAFE's Abi Izzard quizzed over protest of a caged hen operation at Pukekohe
- Nevil Gibson talks about Editor's Insight on the planned $US150 million merger between Pfizer and Allergan
- Taupo Beef’s Mike Barton on how to extract sustainable profit from farming
- Will the government lose on RMA reform? Rob Hosking outlines the PM's speech
- How could bookmakers recoup $16 million? Racing Board chief executive John Allen explains
- Nevil Gibson breaks down the latest aviation news