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The Warehouse says knows no reason for share price rise

Fuseworks Media
Fuseworks Media

Wellington, Oct 5 NZPA - Discount retailer The Warehouse says it has no explanation for a sharp gain in its shares, after market operator NZX queried the move.

Shares in The Warehouse rose 3.9 percent from their closing price on Friday of $3.83 to a seven-month high of $4.00 late on Monday, on a total of 167,222 stocks traded.

The NZX wanted assurance the company had not breached rules relating to continuous disclosure.

"WHS confirms that it continues to comply with listing rule 10.1.1, and that it is not aware of any factors that might have contributed to the movement in WHS share price," the company said today.

First quarter sales are due for release on November 12.

The Warehouse shares were down 1 percent, or 4c, at $3.93 in early afternoon trading.

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