The Warehouse Group Plans Summer Comeback Despite Annual Loss

The Warehouse Group Limited (NZX: WHS) is gearing up for a strong summer season, aiming to regain market share in critical categories. Chair Joan Withers expressed confidence in the retailer's rebound strategy during the company's AGM in Auckland. Despite reporting a $54.2 million net loss for the year ending July 28, compared to a $29.8 million net profit the previous year, the company remains optimistic. Its first-quarter update hinted at recovery efforts focused on customer service and strategic adjustments. The leadership is also addressing key challenges, including CEO recruitment and grocery segment performance, to steer the brand back to profitability.

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