The Warehouse reports loss but Noel Leeming leads group back to profit

<p>The Warehouse Group has posted a $11 million profit, bouncing back from a loss in the previous financial year. </p> <p>The retail group, which operates The Warehouse, Warehouse Stationery, and Noel Leeming stores, described its results for the 2026 financial year as a "strong recovery". </p> <p>The $11.2 million net profit after tax comes after <a href="https://www.1news.co.nz/2025/10/02/the-warehouse-group-blames-28-million-loss-on-challenging-economy/" target="_blank">the previous year's $2.8 million net loss</a>. Operating profit increased to $22.6 million from $1.3 million in the previous financial year, while gross profit margin was up 40 basis points to 32.6%. </p> <p>The Group's flagship red shed brand, The Warehouse, remained loss-making but showed signs of improvement – reporting an operating loss of $7.5 million, up from the previous year's $12.2 million loss. </p> <p>Noel Leeming made the biggest contribution to the result, posting an operating profit of $21.8 million, up from FY15's $11.7 million.