New Zealand's Warehouse Group hits record low on weak trading update

Warehouse

03/03/2025 02:39

** Shares of Warehouse Group WHS.NZ fall 7.1% to NZ$0.9200

** Stock dropped as much as 9.1% earlier in the day to a record low of NZ$0.9000

** General merchandise retailer reports that FY25 H1 group sales were down 1.6% compared to a year earlier

** Expects FY25 H2 EBIT to be broadly in line with last year's EBIT loss of around NZ$14 million ($7.85 million)

** Co flags that there remains significant uncertainty around the Group's FY25 H2 performance

** 283,926 shares change hands, 3.9 times the 30-day average of 72,964

** Stock down 11.5% YTD, including current session's moves

($1 = 1.7832 New Zealand dollars)

 (Reporting by Manasi Dasa in Bengaluru)

 ((Manasi.DasaSundeep@thomsonreuters.com;))