Pumpkin Patch FY earnings meet guidance, sliding 20 percent , as margins shrink

Wed, 26 Sep 2012

By Hannah Lynch Sept. 27 (BusinessDesk) - Pumpkin Patch, the children’s clothing chain, posted a 20 percent decline in full-year earnings, meeting its forecast, as "challenging retail conditions" in all markets squeezed margins. The stock shed 3.4 percent. Profit before one-time restructuring costs fell to $10.1 million in the 12 months ended July 31, from $12.6 million a year earlier, the Auckland-based company said in a statement. Sales rose 3.1 percent to $300.1 million. Analysts had forecast $334.2 million for sales, for a profit of $9.2...

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