Reject Shop warns of lower H1 profit

Retailer announces lift in first-half sales after opening 33 new stores in six months, says it expects net profit to fall.

The Reject Shop (TRS) has warned first-half net profit is set to fall and announced a lift in first-half sales after opening 33 new stores during the six months to December.

In a trading update to the Australian Securities Exchange, the retailer announced sales in the six months to December 2013 of $385.5 million, a 17.7% lift on the six months to December 2012.

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