New Zealand · Delayed Price · Currency is NZD The Warehouse Group Earnings Call Transcripts
Fiscal Year 2026
-
Sales grew 0.3% to NZD 1.6 billion with operating profit up 38% amid a tough retail climate. Margin recovery, cost control, and inventory management remain priorities, while no interim dividend was declared due to ongoing uncertainty.
Fiscal Year 2025
-
The meeting reviewed a difficult year marked by flat sales, margin decline, and a net loss, prompting a strategic reset focused on cost control, brand investment, and leadership changes. Shareholders approved board appointments and auditor remuneration, with management addressing questions on profitability, competition, and operational improvements.
-
FY25 saw flat like-for-like sales amid tough economic conditions, with margin declines leading to a net loss and no dividend. Leadership changes and cost controls are in place, with FY26 focused on margin recovery, cost reduction, and working capital improvements.
-
Sales declined 1.6% year-over-year but showed improving trends, with cost reductions and strong liquidity supporting a turnaround. Gross margins remain under pressure from promotions and legacy stock, and no interim dividend was declared. H2 EBIT is expected to be similar to last year's loss.
Fiscal Year 2024
-
FY 2024 saw a significant net loss and sales decline, prompting a strategic reset focused on core brands, cost reduction, and leadership changes. Shareholders approved board re-elections and auditor fees, while management addressed concerns about competition, customer experience, and future growth.
-
FY 2024 saw a first-ever annual loss due to weak sales, margin pressure, and one-off costs from divestments. Leadership reset strategy to focus on core brands, with cost control and product mix improvements underway. Market conditions remain tough, but early FY 2025 shows some market share recovery.