The Warehouse Group says this year's unacceptable earnings have two parts.

It's posting a $54.2 million net loss after tax.

Last year it made a $29.9 million profit.

Sales at The Warehouse and Noel Leeming are down 5.3 percent and Warehouse Stationery is down 6.7 percent.

Interim CEO, John Journee says they get it right most of the time, but it needs to be all the time.

"Part of it is strategy and part of it is execution. We had a strategy, set it out five years ago - it was, in hindsight, too ambitious and also distracted us from looking after our core brands."

LISTEN ABOVE

The Warehouse Group says this year's unacceptable earnings have two parts.
It's posting a $54.2 million net loss after tax.
Last year it made a $29.9 million profit.
Sales at The Warehouse and Noel Leeming are down 5.3 percent and Warehouse Stationery is down 6.7 percent.
Interim CEO, John Journee says they get it right most of the time, but it needs to be all the time.
"Part of it is strategy and part of it is execution. We had a strategy, set it out five years ago - it was, in hindsight, too ambitious and also distracted us from looking after our core brands."
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

John Journee: Warehouse Group interim CEO on the company's multi-million dollar net loss

Listen to the Heather du Plessis-Allan Drive Full Show Podcast for Friday 27 September.

Get the Heather du Plessis-Allan Drive Full Show Podcast every weekday evening on iHeartRadio, or wherever you get your podcasts.

Listen to the Heather du Plessis-Allan Drive Full Show Podcast for Friday 27 September. 
Get the Heather du Plessis-Allan Drive Full Show Podcast every weekday evening on iHeartRadio, or wherever you get your podcasts.

Full Show Podcast: 27 September 2024 

The Dunedin Mayor says he is expecting thousands of people to protest tomorrow over a proposed downgrade for the city's new hospital. 

The Government has asked Health New Zealand to cut costs - after an independent review found it's hurtling toward an overspend. 

Mayor Jules Radich says he is urging the community to march against what amounts to clinical cuts for the critically needed facility. 

He told Heather du Plessis-Allan the Government must re-engage in contract negotiations. 

Radich says he believes the project can be completed if prices are brought back within reason, as the piles and plans are all done. 

LISTEN ABOVE

The Dunedin Mayor says he is expecting thousands of people to protest tomorrow over a proposed downgrade for the city's new hospital.&nbsp;
The Government has asked Health New Zealand to cut costs - after an independent review found it's hurtling toward an overspend.&nbsp;
Mayor Jules Radich says he is urging the community to march against what amounts to clinical cuts for the critically needed facility.&nbsp;
He told Heather du Plessis-Allan the Government must re-engage in contract negotiations.&nbsp;
Radich says he believes the project can be completed if prices are brought back within reason, as the piles and plans are all done.&nbsp;
LISTEN ABOVE

Jules Radich: Dunedin Mayor talks mass protest against proposed cutbacks to new hospital

The Alliance Group says a drop in our livestock numbers is behind a proposal shut a Timaru meatworks. 

It's called an all-staff meeting today to announce a proposal to close its Smithfield freezing works.

It would stop sheep meat, calf, and night shift venison processing after this season, and remaining venison at the end of the year, at the latest.

Group chair Mark Wynne told Heather du Plessis-Allan there's been a change in how farmers are using their land.

He says the fundamental reason is declining livestock and in particular sheep - and the flow on effect that is has on the processing industry. 

LISTEN ABOVE

The Alliance Group says a drop in our livestock numbers is behind a proposal shut a Timaru meatworks.&nbsp;
It's called an all-staff meeting today to announce a proposal to close its Smithfield freezing works.
It would stop sheep meat, calf, and night shift venison processing after this season, and remaining venison at the end of the year, at the latest.
Group chair Mark Wynne told Heather du Plessis-Allan there's been a change in how farmers are using their land.
He says the fundamental reason is declining livestock and in particular sheep - and the flow on effect that is has on the processing industry.&nbsp;
LISTEN ABOVE

John Journee: Warehouse Group interim CEO on the company's multi-million dollar net loss

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