The Reject Shop – realestatesource https://www.realestatesource.com.au Commercial and residential property news Tue, 18 Jan 2011 04:41:26 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://www.realestatesource.com.au/wp-content/uploads/2024/03/rsfav-100x100.png The Reject Shop – realestatesource https://www.realestatesource.com.au 32 32 The Reject Shop and API Have Major Ipswich Distribution Centres Flooded https://www.realestatesource.com.au/the-reject-shop-and-api-have-major-ipswich-distribution-centres-flooded/ Tue, 18 Jan 2011 04:41:26 +0000 http://realestatesource.com.au/wordpress/the-reject-shop-and-api-have-major-ipswich-distribution-centres-flooded.html THE Reject Shop and Australian Pharmaceutical Industries have been forced to close major Queensland distribution centres, because flood waters have engulfed their facilities.

The Reject Shop put a trading halt on its shares earlier this week, saying it needed a couple of days to assess damage at its six-month old Ipswich distribution centre.

The $16 million warehouse distributes to 90 of The Reject Shops 211 stores, nationally. When it opened last year, managing director described the complex as the “cornerstone” of that group’s investment in Queensland.
]]> The Reject Shop had planned to quadruple its presence in Queensland, according to the AFR.

News of the flooding comes a month after The Reject Shop downgraded its annual profit forecast, blaming slow consumer spending on the back of interest rate rises, either imposed by the RBA, or banks.

However The Reject Shop still posted a net profit of $23.4 million for the 2009-10 year. That’s forecast to fall to between $21 million and $22 million for the 2010-11 year (down from previous forecasts of $26 million to $26.5 million).

 

Related article:

The Reject Shop Issues Major National Leasing Requirement

 

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