AUSTRALIA: Clothing Group Gowings Swings To FY Loss
Men's apparel group Gowings Retail Ltd on Wednesday revealed it swung to a full year net loss from a year-ago profit as it was hit by fierce competition and a tourism slump amid the SARS outbreak. The company posted a net loss for the 12 months ended August 3 of A$1.7 million versus a profit of A$1.1m last year, although revenue rose by almost a third to just under $A35m.