MARKET CLOSE: NZ shares drop; Pacific Edge falls for seventh day; Kathmandu slides on Aust retail woes

Tue, 03 Jun 2014

By Suze Metherell June 3 (BusinessDesk) - New Zealand shares fell as Pacific Edge extended its slide for the seventh day on concern sales growth won't translate to earnings any time soon, while Kathmandu led a decline among retailers after weak Australian data and the failure clothing chain Postie Plus Group. The NZX 50 Index fell 14.318 points, or 0.3 percent, to 5164.117. Within the index, 27 stocks fell, 17 rose and six were unchanged. Turnover was $197 million. Pacific Edge led the benchmark index lower, down 9.4 percent to a seven...

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