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Red shed turnaround a multi-year job, new Warehouse CEO says

The retailer’s namesake brand reported a $12.2 million operating loss for the year.

The Warehouse has reported its annual earnings for the 2025 financial year.

Kate McVicar Thu, 02 Oct 2025
Key points
  • Revenue: Totalled $3.1 billion. 
  • Loss: Narrowed to $2.8 million from $54.2m.
  • Key takeaway: The Warehouse Group will have to work hard to turn around the its key red sheds brand.

The new boss of The Warehouse Group acknowledges turning around the retailer's namesake brand won’t be a quick job. 

Group chief executive Mark Stirton told NBR he expected it would take three years to improve the health of the red sheds, starting this financial year. He saw this year's focus

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Kate McVicar Thu, 02 Oct 2025
Contact the Writer: kate@nbr.co.nz
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Key points
  • Revenue: Totalled $3.1 billion. 
  • Loss: Narrowed to $2.8 million from $54.2m.
  • Key takeaway: The Warehouse Group will have to work hard to turn around the its key red sheds brand.
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Red shed turnaround a multi-year job, new Warehouse CEO says
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