Retailer The Warehouse has reported sales increases across all its outlets, boosted by less need to clear winter stock at sale prices.
The Red Sheds, Blue Sheds, Noel Leeming and Torpedo7 stores all reported increased sales, in the 15th consecutive quarter of same-store sales growth.
Chief executive Mark Powell said the growth came largely from new season clothing ranges and strong performance from events, branded imports and the ''celebrations'' category.
''Gross [profit] margins improved on last year, largely due to the lower winter apparel clearance activity, which reflects a strong exit from the winter season,'' Mr Powell said.
However, apparel sales were down because of fewer winter clearances than last year, as were television sales, because of last year's sales spike for digital switchover.
Craigs Investment Partners broker Peter McIntyre said the result was still relatively flat.
''The Warehouse is still bedding in recent acquisitions Torpedo and Leemings,'' he said.
He noted the weakening New Zealand dollar could cause ''headwinds'' later in the year, undermining The Warehouse's offshore purchasing power.
• The shareholders' annual meeting is on November 21.
The Warehouse Group
First quarter to October:
• Turnover $2.6 billion last year, total 248 outlets, 11,500 employees.
• During quarter, five new stores, two replaced, one (Noel Leeming) closed.
• 92 Warehouse (Red Shed) stores - sales up 1.3% to $589.4 million.
• 79 Noel Leeming stores - sales up 2.9% to $143.2 million.
• 64 Warehouse Stationery (Blue Shed) stores - sales up 2.5% to $58.3 million.
• 11 Torpedo7 stores - sales up 49.4% TO $28.7 million.
• Two Number 1 Fitness stores.
Source: The Warehouse
