Hallenstein lifts profit 40% as it claws back market share

Thu, 26 Mar 2015

By Suze Metherell March 27 (BusinessDesk) - Hallenstein Glasson, the fast-fashion clothing chain, lifted first-half profit 40 percent, beating its guidance, as it clawed back market share in a competitive retail environment. Profit rose to $8.6 million in the six months ended Feb. 1, up from $6.2 million a year earlier, the Auckland-based company said in a statement. That's above the $8.1 million to $8.3 million range it gave in January. Sales rose 4.1 percent to $110.9 million, while costs slipped 2.1 percent to $43.9 million. The retai...

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