Hallenstein Glasson warns 1H profit may fall 23 percent on slow sales

Thu, 14 Nov 2013

By Paul McBeth Nov. 15 (BusinessDesk) - Hallenstein Glasson, the clothing retailer, warned its first-half profit may fall by 23 percent with subdued sales in Australia and New Zealand. The Auckland-based company is forecasting profit of about $8 million in the six months ended Feb. 1 from $10.4 million a year earlier, after first quarter sales were 7 percent down from 2012, it said in a statement. The retailer will give a further update at its annual meeting on Dec. 12. “August and September were particularly challenging, but as the summe...

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