Hallenstein shares fall as margin squeeze pushes annual earnings near bottom of guidance

Wed, 25 Sep 2013

By Paul McBeth Sept. 26 (BusinessDesk) - Shares in Hallenstein Glasson fell after the fourth-biggest listed retailer posted an 11 percent slide in annual earnings to near the bottom of its forecast range, as margins at the 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....

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