Hallenstein says first-half profit top drop 39 percent after weaker December sales

Wed, 15 Jan 2014

Jan. 16 (BusinessDesk) – Hallenstein Glasson Holdings, whose shares have shed 21 percent in the past 12 months, said first-half profit will fall about 39 percent, a bigger drop than it flagged in November, after a decline in sales during December. Sales in December were down about 10 percent on the same month of 2012, the Auckland-based clothing chain said. Chairman Warren Bell had warned of a possible downgrade at the annual meeting on Dec. 12 unless sales picked up in the crucial peak summer trading period. “The impact December has on prof...

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