While it's a good news day for Costco, things aren't so jolly over at Warehouse Group HQ
While it's a good news day for Costco, things aren't so jolly over at Warehouse Group HQ
28 September 2022
The parent company of The Warehouse, Warehouse Stationery, Noel Leeming and Torpedo 7 has suffered a 19.3 percent drop in net profit for the year to July.
Sales were down 3.5 percent, with Auckland stores closed for 23-percent of the reporting period.
Much of the decrease in profit was put down to its accounting treatment of cloud computing software arrangements.
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