SOUTH AFRICA: Bumpy Ride For Country Road As Loss Widens
Upscale clothing chain Country Road on Friday posted a wider full-year net loss as it was hit by costs associated with its exit from the US market. The company reported a net loss of $26.5 million compared to $7.7m in the year-ago period amid a $23.9m charge related to the axing of its 20 outlets in the US in March. Revenue fell 9.5 per cent to $248.5m.
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