It’s been another strong half for The Warehouse Group, which has reported a profit increase of more than 22 percent. Profit for the first half of 2016 is $45.6 million, compared to $37.2 million at the same time last year.
Kathmandu is shutting its four UK stores and switching to an ecommerce strategy after a “disappointing” financial result. It reported a net profit of $20.4 million for the year ended July 31, a decrease of $31.1 million (51.6 percent) from the year previous. This was well below the company’s expectations, CEO Xavier Simonet says.
Mitre 10 has reported the highest sales figures to date in its 41-year history. Its sales rose 8.7 percent to $1.13 billion in the year ended June 30. Mitre 10 chairman Martin Dippie said this showed Mitre 10 was the market leader in a competitive retail environment.
Briscoe Group has announced its first-half profit increased 11 percent, but despite its success, Kathmandu shareholders aren’t biting. The retailer has revealed that it has gained just 2.3 percent of the 80.1 percent of Kathmandu shares it doesn’t own in its takeover attempt.
Trade Me has continued to show it has a huge presence in the online market, with revenue up 11 percent from the year previous to $199.7 million. It also is buying up services around it and expanding outwards, ensuring it has total market domination.