The Reject Shop and API Have Major Ipswich Distribution Centres Flooded

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).

 

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Marc Pallisco

A freelance property analyst and journalist, Marc is a co-founder of realestatesource.com.au.

Marc Pallisco

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