New Zealand's Warehouse Group hits 28-year low on weak qtrly results

Warehouse

10/05/2024 24:57

** Shares of New Zealand's Warehouse Group  WHS.NZ  fall as
much as 4% to NZ$1.2, its lowest level since Aug 1996
    ** Stock posts its biggest intraday pct fall since April 23
    ** Stock on track for its fifth straight week of losses 
    ** Retail service company posts qtrly total sales of
NZ$695.5 mln ($419.73 mln), down 9.2% YoY
    ** Reports gross profit of NZ$227.9 mln in Q3, down 12.8%
compared to FY23
    ** Adds trading conditions remain highly uncertain
    ** Stock down 22.4% YTD, as of last close

($1 = 1.6570 New Zealand dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))