The Warehouse Group

New Zealand multi-brand retailer with stores

The Warehouse Group

New Zealand multi-brand retailer with stores

Overview

The Warehouse Group is a large New Zealand retailer with three main brands—The Warehouse, Warehouse Stationery, and Noel Leeming—operating 180+ stores and online platforms. It sells general merchandise, stationery, and consumer electronics, with sourcing offices in China and India. The company focuses on a people-centered culture with 10,000+ employees and a Here for Good mission centered on sustainable retail and community wellbeing. Its goal is to provide broad access to affordable products for New Zealanders while contributing to long-term environmental health through sustainability efforts and carbon-neutral milestones.

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About The Warehouse Group

Simplify's Rating

Why The Warehouse Group is rated

C+

Rated C on Competitive Edge

Rated B on Growth Potential

Rated C on Differentiation

Industries

Consumer Goods

Company Size

1,001-5,000

Company Stage

N/A

Total Funding

N/A

Headquarters

Auckland, New Zealand

Founded

1982

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Simplify's take

What believers are saying

FY26 operating profit rose to $22.6 million, up sharply from $1.3 million.
Net debt fell to $17 million, giving Mark Stirton room for store expansion.
November 2026 strategy targets $100 million operating profit and four to five annual new stores.

What critics are saying

The Warehouse still posted a $7.5 million operating loss in FY26, dragging group upside.
February 2026 cut 270 head-office jobs and moved roles offshore, exposing execution strain.
Kmart, Briscoes, Amazon, and Temu keep squeezing prices; a weak Warehouse brand threatens survival.

What makes The Warehouse Group unique

Three-banner model spans The Warehouse, Noel Leeming, and Warehouse Stationery across New Zealand.
FY26 brand-led reset improved margins through tighter inventory, better ranges, and selective store investment.
Noel Leeming and Warehouse Stationery generated profits while rebuilding the core Warehouse proposition.

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Benefits

Employee Discounts
Paid Vacation
Training Programs

Company News

Yahoo Finance

Mar 31st, 2026

Warehouse Group reports 38% profit jump to $26.9M despite flat NZ retail conditions

The Warehouse Group reported sales of $1.6 billion for the first half of FY26, up 0.3% year-on-year, with operating profit rising 37.7% to $26.9 million. Same-store sales increased 0.5%, whilst net debt improved to $93 million from $96 million. Warehouse Stationery delivered strong performance with sales up 5.7%, and Noel Leeming's operating profit jumped 52% to $13 million. The company reduced its cost of doing business by 1.7% to 30.6% of sales and achieved positive free cash flow of $3.1 million. However, the board declined to declare an interim dividend due to economic uncertainty. The company faces headwinds from flat retail spending and elevated unemployment, which reached a 10-year high in December.

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