The Warehouse has booked positive growth across all its divisions with third-quarter trading up by 5%, and has maintained its earlier financial guidance for its full-year result.
Separately, The Warehouse also announced yesterday a $100 million five-year bond issue, to refinance $100 million of bonds maturing in mid-June, with the latest offer able to accept any oversubscriptions to a total of $125 million.
Warehouse group chief executive Mark Powell said the third quarter produced a much-improved performance on challenging trading during the first half, with both solid sales growth and an improved gross margin.
The Red Sheds had now recorded 17 consecutive quarters of positive same-store sales growth, while the Blue Sheds booked their 23rd consecutive quarter of positive growth.
''While this is a solid performance, particularly on the back of a difficult first-half trading period, the retail environment continues to be highly competitive, and our focus remains on leveraging year-on-year profit growth for the second half-year,'' he said in a statement.
The third-quarter results were in line with expectations and the company's full-year profit guidance remained unchanged, Mr Powell said.
The earlier forecast was for full-year after-tax profit in a range of $52 million to $56 million.
