New Zealand based, ASX listed retailer The Warehouse Group Ltd
(ASX:WHS), says sales for the last 9 weeks to January 3, 2010 were flat with the same period last year.
The company says same store sales, stores open more than a year, were also flat year on year.
CEO Ian Morrice says the retailer anticipated continued steady growth over Christmas but this didn’t materialize.
Mr Morrice says the company believes that its sales are indicative of the broader non-food retail market overall.
The Warehouse Group says it expects net profit after tax for the first half of the 2010 financial year is expected to be similar to last year’s $56.8 million.
The Warehouse Group posted net profit of $60.82 million for the year ended July 30, 2009.
