![]() The closure of 1-day operations and bringing into the group operating structure will significantly improve cost efficiencies of business, he said. “We are also moving forward with the closure of 1-day operations and bringing and Torpedo7 into our Group operating structure.” “We have made some difficult cost-cutting decisions across the group including reducing labour costs at our Auckland Store Support Office, which will, unfortunately, see a reduction of up to 340 roles. “This includes rebalancing capital expenditure to focus on operational performance and reprioritising transformation projects,” Grayston added. “We have experienced a very challenging retail trading environment in the last six months, and we are taking decisive action to improve financial performance and operational efficiency across the group,” he said. ![]() He confirmed restructuring plans would see up to 340 jobs cut and said the company was moving forward with the closure of its 1-day daily deal site operations. The retail giant said increased business costs and a slow second quarter during the key Christmas trading period drove the decline in bottom-line profit.īut overall sales were up 4.8 per cent on last year at $1.8 billion.Ĭhief executive Nick Grayston described the trading environment as challenging. The Warehouse Group said net profit slumped in the six months to January 29, dropping 61 per cent to $17.3 million compared to $44.4m the same period a year ago. Canterbury Mornings with John MacDonald Podcast.Wellington Mornings with Nick Mills Podcast.The Resident Builder Podcast with Peter Wolfkamp.Saturday Morning with Jack Tame Podcast.Sportstalk with D'Arcy Waldegrave Podcast.Simon Barnett & James Daniels Afternoons Podcast.
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