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

 

Auckland Port Study: Port To Ship Out – No Departure Date

Interest groups in Auckland and its waterfront chose a group of representatives to determine the future of the port. Their consensus is that the Port is going to have to move but not before a credible location is confirmed... More>>

ALSO:

Tax: GST Threshold For Online Purchases Won't Lower Before 2018

The government wants to lower the threshold on online purchases which qualify for GST from mid-2018, but says more work is needed and there will be no change without public consultation. More>>

ALSO:

North Canterbury: Government Extends Drought Classification

The government has extended a drought classification for the eastern South Island until the end of the year, meaning the area will have officially been in drought for almost two years, the longest period for such a category. More>>

ALSO:

Negotiations Fail: Christchurch Convention Centre Build To Proceed Without PCNZ

After protracted negotiations, the government has ditched the construction consortium it picked to build Christchurch's replacement convention centre, which it now anticipates delivering at least two years behind the original schedule. More>>

ALSO:

Other Centres' Convention Centres:

Ruataniwha: Greenpeace Launches Legal Challenge Against $1b Dam Plan

Greenpeace NZ is launching a legal challenge against a controversial plan to build a dam that’s set to cost close to $1 billion and will pollute a region’s rivers. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news