The Warehouse Group Limited reported a drop in sales in the third quarter, after continued contraction in the music and DVD market, and warm weather affecting sales of winter apparel and heating.
The group's sales for the third quarter ended May 2 was $376 million, down 1.9 percent compared to the corresponding period last year.
Sales for the year to date were $1.29 billion, down 0.9 percent on the same period last year.
The Red Sheds' third quarter sales fell 2.6 percent compared to the third quarter last year to $323.8 million, and year-to-date sales went down 1.8 percent to $1.14 billion.
Group chief executive officer Ian Morrice said the third quarter shortfall was almost entirely due to the music and DVD market, and a very slow start to winter.
He said the April trading month in particular highlighted the market remained unpredictable, but Easter trading in March was solid and customers were responding well to growth initiatives in categories such as footwear, sporting goods and jewellery.
Warehouse Stationary sales were up 2.2 percent to $52.2 million compared to the third quarter last year, and year-to-date dales rose 6.3 percent to $148.4 million.
Mr Morrice said subject to any material adverse changes, adjusted full-year net profit after tax will be similar to adjusted NPAT for 2009.
The Warehouse shares last traded at $3.57.
