The Reject Shop’s net profit plunges amid rising costs, shrinkage

The Reject Shop’s net profit declined significantly despite higher sales in the last fiscal year.

The discount retailer’s net profit plunged 35.9 per cent to $4.7 million while sales grew 4.1 per cent to $852.7 million.

“Like many Australian retailers, The Reject Shop continues to face near-term margin pressure from rising costs and higher shrinkage, which adversely impacted profitability in FY24,” said Steven Fisher, The Reject Shop chair.

To know more: https://insideretail.com.au/business/the-reject-shops-net-profit-plunges-amid-rising-costs-shrinkage-202408