Hallenstein annual profit falls 11 percent as Glasson margins come under pressure

Wed, 25 Sep 2013

By Paul McBeth Sept. 26 (BusinessDesk) - Hallenstein Glasson Holdings, the clothing chain, reported an 11 percent fall in annual profit, near the bottom of guidance, as margins at its women’s wear Glasson unit came under pressure. Net profit fell to $18.7 million, or 31.3 cents per share, in the 12 months ended Aug. 1 from $21 million, or 35.24 cents, a year earlier, the Auckland-based retailer said in a statement. That was near the bottom of its guidance in June when it said profit would be between $18.5 million and $19.5 million. Sales edg...

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