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.

COO Nelson Mair commented: "The US decision was a tough decision for us to take, and obviously we incurred a substantial write-down in doing that.

"In the last six months we've reported good sales growth, a good improvement in profitability and managed our stock levels well, so we are very pleased with it, and it is largely due to the fact that we've been able to focus on doing one thing well."