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

 

Royal Society: Review Finds Community Water Fluoridation Safe And Effective

A review of the scientific evidence for and against the efficacy and safety of fluoridation of public water supplies has found that the levels of fluoridation used in New Zealand create no health risks and provide protection against tooth decay. More>>

ALSO:

Scoop Business: Croxley Calls Time On NZ Production In Face Of Cheap Imports

Croxley Stationery, whose stationery brands include Olympic, Warwick and Collins, plans to cease manufacturing in New Zealand because it has struggled to compete with lower-cost imports in a market where the printed word is giving way to electronic communications. More>>

ALSO:

Prefu Roundup: Forecasts Revised, Surplus Intact

The National government heads into the election with its Budget surplus target broadly intact, delivering a set of economic and fiscal forecasts marginally revised from May to reflect weaker commodity prices and a lower tax take. More>>

ALSO:

Convention Centre: Major New SkyCity Hotel And Laneway For Auckland

Today SKYCITY Entertainment Group Limited revealed plans to build a new hotel and pedestrian laneway of bars, restaurants and boutique shopping on land it owns in the Nelson and Hobson Streets block, expanding the SKYCITY Entertainment Precinct. More>>

ALSO:

Igniting The Spark: Bringing The Digital Enabler To Life

Changing a name is, relatively speaking, the easy part of a re-invention. Changing a culture, getting all the ducks in a row, turning yourself inside-out to become customer-inspired is a much bigger challenge. More>>

ALSO:

Ebola And NZ: Targeted Screening At Airport But Risk Low

The risk of any cases of Ebola in New Zealand remains very low, but health and border authorities are well prepared... anyone arriving in New Zealand who in the last three weeks has visited countries affected will be screened for symptoms of the disease. More>>

ALSO:

Scoop Business: Brewer Seeking Crowd-Funding Cancels Shareholders’ Dividends

Shareholders in Renaissance Brewing company, the first business to seek equity through crowd-funding in New Zealand, have cancelled their claim on $147,000 of accumulated earnings “to make Renaissance a more attractive investment opportunity.” More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news