New Zealand's Warehouse Group hits record low on FY24 forecast

Warehouse

24/06/2024 03:02

** Shares of New Zealand's Warehouse Group  WHS.NZ  fall as
much as 9.4% to a record low of NZ$0.97
    ** Stock posts its biggest intraday pct fall since March
2023
    ** Retail services co expects FY24 sales from continuing ops
to be between 6%-7% lower than prior year
    ** Says FY24 EBIT excluding loss from discontinued ops & any
potential restructuring costs to be in a range of NZ$22 mln
($13.44 mln) to NZ$30 mln, compared to NZ$83.4 mln in prior year
    ** More than 240,800 shares change hands by 0152 GMT, vs the
30-day average volume of 84,770 shares
    ** Stock down 33.5% YTD, as of last close

($1 = 1.6375 New Zealand dollars)

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