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Published: 9:37AM Friday May 10, 2013 Source: BusinessDesk

Warehouse Group, the country's biggest listed retailer, boosted third-quarter sales at its Red Sheds and stationery outlets, and has kept its annual guidance unchanged.

Sales, excluding recent acquisitions Noel Leeming and Torpedo7, rose 6.2% to $418.7 million in the three months ended April 28 from the same period a year earlier, the Auckland-based retailer said in a statement.

Including the appliance retailer and online group, sales from continuing operations were $557.1 million. Warehouse kept its annual adjusted profit guidance at between $73 million and $76 million.

The company's Red Sheds lifted sales 5.1% to $355.6 million, while Blue Shed stationery revenue gained 13% to $63.1 million. Noel Leeming contributed $133.1 million in continuing sales and Torpedo7's preliminary sales were $5.3 million. The discontinued Bond and Bond stores reported sales of $12.4 million.

"The long-term strategy outlined 18 months ago is starting to deliver improved results for shareholders," chairman Graham Evans said. "It is pleasing to see that our product brand optimisation strategy has already resulted in the ranging of major brands such as Sony, Acer, Hoover and Kambrook in the Warehouse stores, with further brands to be introduced during the year."

This week Warehouse chief executive Mark Powell outlined plans to lift staff wages by up to an annual $2.5 million to create a better-trained workforce and reward long-serving employees.

The retailer's year to date sales at the Red Sheds was up 4.1% at $1.22 billion, while the stationery unit was up 12% to $175 million. Noel Leeming sales year to date were $248.3 million, with $5.3 million from Torpedo7. Year to date sales from the discontinued Bond and Bond stores was $26.5 million.

Shares in the retailer were unchanged at $4.36 yesterday, and have jumped 46 percent this year. The stock is rated an average 'hold' based on six analyst recommendations compiled by Reuters, with a median target price of $3.675.

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Warehouse Red Sheds, stationery boost sales

By Paul McBeth

May 10 (BusinessDesk) - Warehouse Group, the country's biggest listed retailer, boosted third-quarter sales at its Red Sheds and stationery outlets, and has kept its annual guidance unchanged.

Sales, excluding recent acquisitions Noel Leeming and Torpedo7, rose 6.2 percent to $418.7 million in the three months ended April 28 from the same period a year earlier, the Auckland-based retailer said in a statement. Including the appliance retailer and online group, sales from continuing operations were $557.1 million. Warehouse kept its annual adjusted profit guidance at between $73 million and $76 million.

The company's Red Sheds lifted sales 5.1 percent to $355.6 million, while Blue Shed stationery revenue gained 13 percent to $63.1 million. Noel Leeming contributed $133.1 million in continuing sales and Torpedo7's preliminary sales were $5.3 million. The discontinued Bond and Bond stores reported sales of $12.4 million.

"The long-term strategy outlined 18 months ago is starting to deliver improved results for shareholders," chairman Graham Evans said. "It is pleasing to see that our product brand optimisation strategy has already resulted in the ranging of major brands such as Sony, Acer, Hoover and Kambrook in the Warehouse stores, with further brands to be introduced during the year."

This week Warehouse chief executive Mark Powell outlined plans to lift staff wages by up to an annual $2.5 million to create a better-trained workforce and reward long-serving employees.

The retailer's year to date sales at the Red Sheds was up 4.1 percent at $1.22 billion, while the stationery unit was up 12 percent to $175 million. Noel Leeming sales year to date were $248.3 million, with $5.3 million from Torpedo7. Year to date sales from the discontinued Bond and Bond stores was $26.5 million.

Shares in the retailer were unchanged at $4.36 yesterday, and have jumped 46 percent this year. The stock is rated an average 'hold' based on six analyst recommendations compiled by Reuters, with a median target price of $3.675.

(BusinessDesk)

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Warehouse Red Sheds, stationery boost 3Q sales, FY guidance unchanged

10 May 2013 12:37

Thieves stole tools including a chainsaw and strimmer from sheds in Northumberland

Thieves stole tools including a chainsaw and strimmer from sheds in Northumberland.

Police are appealing for information after two sheds burglaries in Stannington and Ellington in Northumberland.

The first happened between 8.30pm on Wednesday, May 1, and 9am Thursday, May 2, when thieves stole tools from a shed at The Villas in Stannington.

Among the items taken was a blue Makita chainsaw, a blue Ryobi strimmer, an orange Daewoo hedge trimmer and an orange wheelbarrow.

Then between 4.30pm on Saturday, May 4, and 8.45am on Sunday, May 5, thieves broke into a shed in Cresswell Road, Ellington, and stole a lawn mower, chainsaw, a blue Raleigh bike and a strimmer.

Residents are being advised to ensure their sheds and garages are secure and that property such as tools and bikes are stored somewhere safe.

Anyone with any information into the thefts, or as to the whereabouts of the stolen property, is asked to contact police on 101 ext 69191.

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Tools stolen as Northumberland sheds targeted

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Arlington resident Janet OGrady recently had the front walkway and porch steps replaced on the rambler shes owned for 30 years. She also had her kitchen painted.

Now shes planning to upgrade her countertops to granite.

Eventually, Ill sell, but I wanted to do the work when I could enjoy it, she said. Now Ive got this fabulous front walkway and it opens up the world, she added.

Shes in good company.

As the housing market recovers, spending on remodeling is rising. Whether to increase resale value or to simply make their surroundings more contemporary, homeowners spent 9percent more on renovations in 2012 than the previous year, according to an April study by the Joint Center for Housing Studies at Harvard University.

Renovation spending is expected to increase again this year, the study says.

The top improvements homeowners make, according to the latest American Housing Survey, are upgrading appliances and major equipment as well as flooring, paneling, ceilings, windows and doors. Garages, at a median price of $15,000, are the most expensive project. Kitchen remodeling, at a median price of $5,000, is the next most expensive one, followed by roofing, at a median cost of $4,559.

Growth in remodeling is fueled by several factors, experts say.

Rising home equity has given owners incentive to resume spending on improving their properties.

Underwater homeowners, whod like to sell but cant, are instead upgrading. Many who arent underwater, drawn by the sellers market, are investing in renovations that can help them get top dollar once they list.

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