New Zealand department store chain The Warehouse Group has revealed a lift in third quarter sales for the 2013 fiscal year.
According to the company, sales from continuing operations for the third quarter ended April 28 2013 came in at $557.1 million, and $1,650.8 million for the year to date.
Sales for the quarter excluding Noel Leeming Group and Torpedo7 Group were $418.7 million, up 6.2 per cent on the prior comparable period. Year to date sales excluding Noel Leeming Group and Torpedo7 Group were $1,397.2 million, up 5.1 per cent on the prior comparable period.
The Warehouse (Red Sheds) third quarter sales were $355.6 million, up 5.1 per cent compared to the third quarter last year. Same store sales for the third quarter were up 2.0 per cent. Year to date sales were $1,222.2 million, up 4.1%.
In relation to The Warehouse (Red Sheds), Group CEO Mark Powell noted that the apparel business had performed well during the summer season with less clearance activity required and as a result better margins than last year, consistent with its H1 FY13 results update.
He added that the apparel winter sell through is on track however with the continuing mild weather in the North Island this is being monitored closely.
Commenting on full year results to come, the group said guidance is unchanged and, subject to any material change in anticipated trading conditions, the directors continue to expect Warehouse Group adjusted net profit after tax for the full year to be between $73.0 million and $76.0 million.
Seven more stores were also refitted and relaunched late in the quarter as part of The Warehouse Group's strategic store rejuvenation program.