UPDATE2: Hallenstein shares tumble as retailer confirms profit impact from weak dollar

Thu, 04 Feb 2016

(Adds comment on its balance sheet and inventory levels, updates shares.) By Tina Morrison Feb. 5 (BusinessDesk) - Hallenstein Glasson Holdings shares dropped after the clothing retailer said first-half profit fell about 20 percent, and it will trim its interim dividend, because a weaker New Zealand dollar and competition crimped margins. Profit was probably between $6.6 million and $6.9 million in the six months ended Feb. 1, down from $8.6 million a year earlier, the Auckland-based retailer said in a one-page statement. Sales edged u...

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