Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Hallenstein says February-June sales up 2%, inventory ok

Hallenstein says February-June sales up 2%, inventory ok

By Jonathan Underhill

June 25 (BusinessDesk) - Hallenstein Glasson Holdings, the listed clothing chain, said it managed to underpin seasonal sales, with growth of 2 percent in the almost-five months ended June 22, despite a warmer-than-expected winter, which would tend to crimp sales of coats and gloves.

"The company advises that despite the warm winter in Australasia, sales and margin for the group for the period 2 February to 22 June 2014 have remained marginally ahead of the prior corresponding period," it said in a statement. The month of June is tracking 2 percent up on the same month of 2013 and inventory levels "remain well controlled."

Profit for the winter season, though, would show no growth from a year earlier, the company said.

The shares were unchanged at $2.92 and have shed a quarter of their value this year.

The clothing retailer's run-rate numbers come after Warehouse Group, New Zealand's largest listed retailer, cut its forecast for annual earnings because warmer autumn and winter weather is crimping sales and margins of seasonal clothing and home products.

Warehouse, whose shares are down 18 percent this year, said last week it was selling seasonal stock at reduced margins to avoid having too much left at the end of the season, while cutting its full-year earnings guidance.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Statistics: Dairy And Travel Still Our Largest Export Earners

New Zealand earned $2.3 billion more from exports than we spent on imports during the year ended June 2015... total exports of goods and services were $67.5 billion, while total imports were $65.1 billion. More>>

ALSO:

Approval: Air New Zealand And Air China Launch New Alliance Route

Air New Zealand and Air China have today launched joint sales for a new daily direct service between Auckland and Beijing after receiving approval from New Zealand Minister of Transport Hon Simon Bridges to form a strategic alliance. More>>

ALSO:

Money Trading: FX Trader Jin Yuan Finance Warned Over Lack Of Monitoring

Jin Yuan Finance, an Auckland-based foreign exchange trader, has been warned over its lack of anti-money laundering processes in place in the first public notification by the Department of Internal Affairs. More>>

ALSO:

Auckland Surge, Possible Peak: House Values Accelerate At Fastest Annual Pace In 8 Years

New Zealand residential property values rose at their fastest annual pace in eight years in August, pushed higher by overflowing demand in Auckland, which is showing signs speculators think it has reached its peak, according to Quotable Value. More>>

ALSO:

Cash Money: Reserve Bank Launches New $5 And $10 Banknotes

The $5 and $10 final banknotes were revealed at an event at the Bank in Wellington, and will start to be released from mid-October 2015. More>>

ALSO:

Truck Sales Booted: Commerce Commission Files Charges Against Mobile Trader

The Commerce Commission has filed charges against a mobile trader, or truck shop operator, claiming he obtained money from customers by deception and never intended to supply them with the goods they paid for. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news