NZ's Warehouse eyes best day in over 11 wks on strong Q3 results, upbeat outlook

Warehouse

14/05/2021 01:18

** Shares of Warehouse Group  WHS.NZ  jump as much as 3.8%
to NZ$3.570, eyeing their biggest daily gain since Feb. 25
    ** Apparel retailer says third quarter sales rose 35% to
NZ$791.2 mln ($568.40 mln); gross profit margin for Q3 was 35.5%
for Q3 FY21, up 295 basis points from a year ago  urn:newsml:reuters.com:*:nNZW25Dmjd
    ** WHS expects adjusted net profit after tax (NPAT) for FY21
to exceed NZ$160 mln, compared to NZ$80.7 mln in FY2020
    ** Co says Q3 FY20 was affected by disruption to operations
and store closures caused by COVID-19 pandemic
    ** Stock at its highest since April 23
    ** About 145,000 shares change hands, vs the 30-day average
volume of 91,000 shares
    ** Stock up 27% this year as of last close
    
  


($1 = 1.3920 New Zealand dollars)
    

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))