The Warehouse Group continues sales growth
The Warehouse Group has continued its sales growth in the first quarter, building on the above- guidance Adjusted Net Profit After Tax result of $59 million posted for our 2017 financial year.
CFO Jonathan Oram said it was pleasing to see the Group continue to build momentum ahead of the peak Christmas trading period.
The Q1 result of 3.6 percent growth in sales compared to the same quarter last year has the Warehouse returning to sales growth after 5 quarters of same store sale declines.
Noel Leeming reported sales for the first quarter of $209.6 million, an increase of 7.4 percent, or $14.5 million, compared to the same quarter last year, while its quarterly same store sales increased 3.2 percent.
Online sales for the Group when excluding Torpedo7 which had a number of changes to its online offering, was particularly strong compared to the same quarter last year, up 27 %.
Read the full Q1 result announcement here