Net profit up but post-pandemic online sales down for Hallenstein Glasson

Net profit up but post-pandemic online sales down for Hallenstein Glasson
New Zealand sales saw a small increase of 7.7%, but Australian sales shot up 21.8%. (Image: Glassons)
Ella Somers
Hallenstein Glasson Holdings reported a 24.9% jump in net profit as the retailer continued to enjoy the post-pandemic trading environment.Group sales for the 12 months ended Aug 1 rose 16.7% to $409.7 million, up from $351.2m in the previous year.  Audited net profit after tax edged up almost 25% to $31.9m, up from the 2022 net profit of $25.6m but lower than the net profit of $33.3m in 2021. Group chief executive Stuart Duncan said the sales performance of HLG’s brands was “well ahead” of the prior co...

More Retail

Trump-era FX 'compounding' margin losses, analysts say
Retail

Trump-era FX 'compounding' margin losses, analysts say

"Liberation day" could make matters worse, says Kiwibank’s Kerr.

Credit card issuers fear ComCom proposals
Finance

Credit card issuers fear ComCom proposals

The proposed regulations will stifle banking competition, says Mastercard.

Are all Willis’ duopoly-breaking options really on the table?
Retail Analysis

Are all Willis’ duopoly-breaking options really on the table?

A survey of her external adviser's views suggests not.

Gregor Thompson 01 Apr 2025
My Food Bag CEO signals 'return to growth'
Retail

My Food Bag CEO signals 'return to growth'

My Food Bag's chief executive, Mark Winter, says the company has "returned to growth" after strengthening its sales performance in the second half of the financial year.On Tuesday, the meal-kit delivery firm told the NZX that it expects to deliver full-year earnings in line w...

Gregor Thompson 01 Apr 2025