Postie Plus posts full-year loss on costs to dispose of Babycity, centralise operations

Wed, 26 Sep 2012

Sept. 27 (BusinessDesk) - Postie Plus Group, the clothing chain, reported a full-year loss after costs related to the sale of its Babycity business and relocation of marketing and distribution to Auckland. The net loss was $183,000 in the 12 months ended Aug. 5, from a profit of $656,000 a year earlier, the Auckland-based company said in a statement. Sales fell to $111 million, just ahead of the level it flagged on Aug. 31, from $115.7 million a year earlier. In May, the retailer said it was in breach of bank covenants and in August chief e...

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