UPDATE Hallenstein Glasson shares slide 15 percent after profit warning

Wed, 15 Jan 2014

Jan. 16 (BusinessDesk) - Shares in Hallenstein Glasson dropped after the clothing retailer warned first-half profit will decline 39 percent after a poor Christmas sales period. The stock fell 15 percent to $3.62 after the Auckland-based retailer said December sales were 10 percent below the same month a year earlier, and cut its first-half profit expectations to between $6 million and $6.3 million from $10.3 million in 2013. “It’s a rather tough sector – I still don’t know if we’re seeing any glimmer of hope yet,” said Rickey Ward, head of...

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