Hallenstein Glasson lifts sales and margins

GlassonsAuckland-based clothing retailer, Hallenstein Glasson, announced the group has been trading strongly for the first 17 weeks of the new financial year.

The retailer, which operates the Glassons, Hallenstein Brothers and Storm chains, stated its clothing retail chains had traded strongly so far this summer, with increased sales and margins. Sales from August 2, 2017 to November 30, 2017 were 15 per cent ahead of the same period last year.

“These sales have been achieved on an improved gross margin,” said Mark Goddard, Group CEO.

Goddard said this is a positive start to the summer season.

“However, December and January months are the peak trading periods and significant contributors to the full season result,” he said.

“It is therefore difficult at this stage to predict the full summer season profit although based on current performance it will comfortably exceed the prior corresponding period.”

Goddard said the company will provide a further trading update during their annual general meeting on December 13.

In September, the clothing retailer lifted net profit 26 per cent in the 2017 year, boosted by rising online sales.

The womenswear brand has also recently split its chief executive role after the departure of Di Humphries.

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