AUSTRALIA: Noni B To Expand Despite Profit Slump
Women's fashion retailer, Noni B, is set to expand, despite warning that full year profits will fall by 35 per cent. It is estimating that its annual net profit will fall to between $1.7m and $1.8m from $2.9m last year. Noni B is aiming to open seven more stores by October and is also on the hunt for bargain acquisitions. The company is hoping it can expand its portfolio by buying retailers put on the market following the economic slowdown.
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