Hallenstein shares jump 20% as online sales ease covid blues

Wed, 19 Aug 2020

Hallenstein Glasson shares jumped 20 percent after the clothing chain said online channels helped keep annual sales stable through the pandemic lockdowns. The stock hit a three-month high $4.30, and was recently up 19.5 percent at $4.10, after the company said sales were up 0.1 percent at $287.76 million in the 52 weeks ended Aug. 1. The retailer said it expects annual profit of between $27.2 million and $27.8 million, down just 5 percent despite store closures across Australia and New Zealand through the lockdown. Second-half sales d...

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