Perth's declining housing market hurts The Reject Shop

Perth's declining housing market hurts The Reject Shop
Perth's declining housing market hurts The Reject Shop

The Reject Shop's net profit slipped 4.4 percent to $17.5 million in the first half of 2017 as weak consumer sentiment reduced same-store sales.

Total sales rose 2 percent to $432.9 million but same-store sales fell 0.5 percent.

There had been a modest 0.3 percent gain in same-store sales in the September quarter, compared with 6.1 percent in the year ago period.

It was offset by a 1.2 percent fall in the December quarter against 3.2 percent a year earlier.

Chief executive Ross Sudano said the discount variety retailer was particularly challenged in Western Australia.

Sudano noted that continued underemployment and declining housing prices contributed to negative same-store sales.

Its sales on the Eastern Seaboard were flat.

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Company Profit Reject Shop

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