NOEL LEEMING TOP LINE GROWTH CONTINUES TO IMPRESS

By Wares May 17, 2016 Industry news

Noel Leeming's Q3 top line numbers star in The Warehouse Group's Q3 reporting released last week.

Compared to overall TWG group sales (+5.5%), the Red Sheds and Blue Sheds, Noel Leeming's sales growth in Q3 (to 1 May 2016) was spectacular, with $180.6 million, which was +16.7% on the same quarter last year.

Only Torpedo 7 with Q3 sales +13.6% approached Noel Leeming's result, which also boasted same store sales of +17.5% and like-for-like same store sales +17.0%.

Commenting on the Noel Leeming result Group Chief Executive Officer Nick Grayston was pleased with Noel Leeming continueing to grow market share in a competitive market.

Cellular and wearables were "standout performers" (with better stock availability of new smartphone releases compared to last year) and whiteware also performed well.

This result represents a further top line improvement on Noel Leeming's already decent first half top line numbers.

TWG's overall Q3 online sales growth was also impressive, +22.7% to $40.5 million, or a little over 6% of TWG's total Q3 sales ($672.2 million).

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