Warehouse: 1Q Retail Conditions Difficult, But Tracking To Budget
"The first quarter has seen difficult trading conditions, but sales were on plan for the quarter with margins being held at levels similar to last year," the Auckland-based New Zealand retailer told shareholders at its annual meeting. "There has been a slowdown in volumes, especially larger ticket items impacting Warehouse Stationery in particular," the company said, adding that consumer conditions have been subdued.
The company said December and January are the "most crucial" months for its overall sales, and this sales period will determine its year end results.
-Shri Navaratnam, Dow Jones Newswires; 64-4-471-5990; shri.navaratnam@dowjones.com
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(END) Dow Jones Newswires
November 27, 2008 16:01 ET (21:01 GMT)
Publié le 27 novembre 2008 Copyright © 2008 Dowjones
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