The Warehouse Group has revealed it plans to sell or close its online shopping website TheMarket.com by the end of the financial year.

It comes just weeks after the company sold off its outdoor chain Torpedo7 for just a dollar.

Today's announcement also comes as The Warehouse Group announces a $23.7 million net loss in the six months to January 28, amid grim retail conditions.

Chief Product Officer Tania Benyon says this is a sign the market is changing as we enter tough times.

"There's no doubt it's a tough retail environment. I think we're seeing that with other results in the market."

LISTEN ABOVE

The Warehouse Group has revealed it plans to sell or close its online shopping website TheMarket.com by the end of the financial year.
It comes just weeks after the company sold off its outdoor chain Torpedo7 for just a dollar.
Today's announcement also comes as The Warehouse Group announces a $23.7 million net loss in the six months to January 28, amid grim retail conditions.
Chief Product Officer Tania Benyon says this is a sign the market is changing as we enter tough times.
"There's no doubt it's a tough retail environment. I think we're seeing that with other results in the market."
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.