Kirkcaldie sees narrower loss on retail, may need impairment charges

Tue, 02 Sep 2014

By Paul McBeth Sept. 3 (BusinessDesk) - Kirkcaldie & Stains, the upmarket Wellington department store, says it made a narrower loss in the latest financial year, and its board may have to write down the value of assets. The company said its retail unit posted a pretax loss of $1.1 million in the 12 months ended Aug. 31, down from a loss of $1.8 million, a year earlier. Kirkcaldie's fixed and intangible assets for the retail business were valued at $3 million as at Aug. 31, down from $3.7 million, and may need to be impaired. "While thi...

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