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Warehouse Group ( (WHGPF) ) has provided an update.
The Warehouse Group reported half-year FY26 sales of $1.61 billion, up 0.3%, with like-for-like same store sales rising 0.5% amid tough retail conditions and cost-of-living pressures. Despite a slight decline in group gross margin to 32.3%, disciplined cost control cut operating costs to 30.6% of sales and lifted operating profit 37.7% to $26.9 million, driving a 33.6% increase in net profit after tax to $15.7 million.
Brand performance was mixed, with The Warehouse and Warehouse Stationery posting sales growth while Noel Leeming revenue slipped after a strong prior-year comparison, but margins improved at Stationery and Noel Leeming even as The Warehouse faced freight and stock-related pressure. Management highlighted ongoing cost-reset initiatives, store experience upgrades and a planned expansion into Mangawhai in 2027 as evidence of a broader turnaround strategy aimed at rebuilding retail fundamentals and restoring sustainable returns for stakeholders.
More about Warehouse Group
The Warehouse Group is a New Zealand-based retail group operating The Warehouse, Warehouse Stationery and Noel Leeming chains. It focuses on general merchandise, office supplies and consumer electronics, serving most of the country through an extensive physical store network that places over 85% of New Zealanders within a short drive of one of its outlets.
See more insights into WHGPF stock on TipRanks’ Stock Analysis page.