NEW ZEALAND: Hallenstein Glasson issues second profit warning
Clothing retailer Hallenstein Glasson’s first half net profit is likely to be some 39% down on last year, the company said in its second profit warning in two months.
Graeme Popplewell, CEO of the New Zealand business, said group sales had fallen 10% in December alone, but added that “steps are being put in place” to improve performance.
He added that the impact of December trading on profit was “particularly significant”, resulting in a forecast 39% drop in net profit for the six months to 1 February, to NZD6-6.3m (US$5-5.2m).
The company is due to release full first-half results on 25 March.
- Why have US FTA imports fallen to a record low?
- Collaboration key to the future of smart textiles
- Synergies Worldwide CEO unravels sourcing shifts
- First figures show Bangladesh exports climb
- Rana Plaza three years on – Timeline of change
- Hanesbrands to buy Pacific Brands for $800m
- BHS receives "expressions of interest"
- New loan deal to help upgrade Bangladesh factories
- Timberland sets new eco-preferred standards
- US Q1 in brief: Carter's, Columbia Sportswear, Ske