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WHS
03/02/2012 08:31
FORECAST
REL: 0831 HRS The Warehouse Group Limited
FORECAST: WHS: Trading Update
3 February 2012
THE WAREHOUSE GROUP LIMITED
Trading Update
The directors of The Warehouse Group Limited advise that total sales for The
Warehouse for the quarter ended 29 January 2012, were up 4.2% on the same
period last year, with same store sales up 3.1%.
Group Chief Executive Officer, Mark Powell, commented "trading conditions
were quite challenging in the lead up to Christmas, but retail sales
eventually proved buoyant through the key late December period and in
January. I am pleased with overall sales growth, but market conditions have
resulted in pressure being brought to bear on margins in some areas. This
has been particularly evident in the Apparel category, which in the first
half has offset positive underlying growth in a number of other key
categories."
Warehouse Stationery sales were up 2.5% for the January quarter, with same
stores sales up 4.4%. Mr Powell said, "Warehouse Stationery's sales
performance was encouraging given today's market conditions and especially in
light of the timing of "Back to School" which has resulted in some sales
being pushed into the February trading month when compared to last year."
In light of margin pressures experienced in recent months the Board expects
adjusted group net profit after tax for the year ending 27 July 2012 to be in
the range of $62.0 million to $66.0 million compared to previous guidance of
$70.0 million. The Board expects reported group net profit after tax for the
year to be in the order of $80.0 million in line with previous guidance.
This remains subject to any significant change in trading conditions during
the second half.
The Warehouse Group Limited half year results will be announced on Friday, 9
March 2012.
ENDS
Contact details regarding this announcement:
Media
Mark Powell, Group CEO
to be contacted via Wendy Irving on +64 9 488 3231
Investors and Analysts
Luke Bunt
Chief Financial Officer
Telephone: +64 21 644 882
End CA:00219157 For:WHS Type:FORECAST Time:2012-02-03 08:31:30
