Postie Plus expects narrower annual loss; first-half sales slide 9.9 percent

Tue, 11 Mar 2014

March 11 (BusinessDesk) - Postie Plus, whose shares have plunged 44 percent over the past 12 months, expects to narrow its annual loss as it tries to revive profitability. The retailer expects to have a “significant” net loss before tax in the year ending Aug. 3, though smaller than last year’s loss of $10.6 million, the Auckland-based company said in a statement. The forecast came as the company said sales fell 9.9 percent to $39 million in the six months ended Feb. 3 while gross margins improved. Postie Plus has struggled to deal with the...

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