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.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Oceans: NOAA Declares Third Ever Global Coral Bleaching Event

As record ocean temperatures cause widespread coral bleaching across Hawaii, NOAA scientists confirm the same stressful conditions are expanding to the Caribbean and may last into the new year, prompting the declaration of the third global coral bleaching event ever on record. More>>

Scoop Business: A Decade Of Government Pre-Seed Investment

More publicly-funded science is being commercialised after a decade of government ‘pre-see’d investment, according to an independent review. More>>


Solid Energy: Plan To Shut Unprofitable Huntly East Mine

Solid Energy, the state-owned coal miner in voluntary administration, plans to shut down its unprofitable Huntly East mine and lay off 65 staff after deciding the site stands "no chance whatsoever" of finding a buyer. More>>


E Tū: Merger Creates NZ's Biggest Private Sector Union

E tū has been created by the merger of the Engineering, Printing and Manufacturing Union and Service and Food Workers’ Union. It represents more than 50,000 working New Zealanders in industries as diverse as aviation, construction, journalism, food manufacturing, mining and cleaning. More>>


Internet: NZ Govt Lifts Target Speeds For Rural Broadband

The government has lifted its expectations on faster broadband speeds for rural New Zealand as it targets increased spending on research and development in the country's information and communications technology sector, which it sees as a key driver for export growth. More>>


Banks: Westpac Keeps Core Government Transactions Contract

The local arm of Westpac Banking Corp has kept its contract with the New Zealand government to provide core transactions, but will have to share peripheral services with its rivals. More>>


Science Investment Plan: Universities Welcome Statement

Universities New Zealand has welcomed the National Statement of Science Investment released by the Government today... this is a critical document as it sets out the Government’s ten-year strategic direction that will guide future investment in New Zealand’s science system. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news