Pumpkin Patch turns to 1H profit after year-earlier reorganisation costs; sales fall

Sun, 17 Mar 2013

March 18 (BusinessDesk) – Pumpkin patch, the children’s clothing chain, returned to profit in the first half as costs to close underperforming stores in the US and UK a year earlier weren’t repeated. Sales fell on tough trading conditions and inventory disruptions. Profit was $4.7 million in the six months ended Jan. 31, from a loss of about $30 million a year earlier, the Auckland-based company said in a statement. Sales fell 5 percent to $153 million. The retailer had to contend with “pretty subdued” trading in its largest markets of Aust...

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