TWG OP sales up 21 per cent

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13 September 2004 – Takapuna (NZ): The Warehouse Group’s (TWG) stationery stores have posted a 21 per cent rise in full-year sales.

TWG’s Blue Sheds outlets recorded sales of NZ$199.1 million, up from 2003’s figure of NZ$164.5 million. However, operating margin was 3.5 per cent compared to 5.7 per cent a year earlier.

Acting managing director Stephen Tindall said: "We have seen margin pressure in Blue Sheds partly because of the difficult trading environment for business machines including computers. We are balancing our merchandise mix to reduce reliance on business machines and improve gross margins."