Hallenstein Glasson has recorded a solid start to its fiscal year, with sales soaring on store openings and refurbishment.
For the first 18 weeks of FY26, which started on August 2, group sales increased 13.8 per cent year-on-year, driven primarily by the Australian market and the ongoing contribution from newly-opened and refurbished stores.
The trading update was provided by chairman Warren Bell during the annual meeting this week.
Bell noted that the current performance should not be seen as indicative of results through the key trading Christmas period, which will run through February 1 and is considered as a “huge trading period” for the company.
While trading conditions remain challenging in New Zealand due to cost-of-living pressures, both the Hallensteins and Glassons brands have seen year-on-year improvements during the early stage, the chairman added.
James Glasson, CEO of Glassons AU, said that the brand recently opened a new store in Sydney at Burwood, and relocated and expanded Castle Towers and Parramatta, with two more locations underway. In New Zealand, the brand has refurbished its Lynn Mall and Hamilton stores.
“Inventory discipline continues to be one of our core operational strengths. Running lean weeks of cover allows us to stay close to trend, move quickly where demand signals are strong, and protect margin where demand softens,” Glasson said.
“This approach reduces risk and increases agility, and it will remain a central part of how we operate,” he added.
Glasson noted that the brand has further paused its expansion into the US due to the changing tariff environment, and instead redirected some focus to other markets.
“Should the tariff landscape in the US shift, or should we find a more streamlined way of doing business there, we remain open to re-engaging. But for now, we are comfortable with our approach and the performance of our digital channels,” he said.
At Hallensteins, the brand recently invested in several new and upgraded locations, including Silverdale, Queen Street in Auckland, Hamilton CBD, Lynn Mall in West Auckland, Robina in Australia, and a pop-up at Parramatta Westfield in New South Wales.
“These investments ensure our physical network reflects the direction and ambition of the brand and we will continue to invest in and upgrade our store network whilst looking for the right new opportunities as they present themselves in both countries,” said James McLauchlan, Hallensteins CEO.
During the meeting, Hallenstein Glasson also elected Peter Steenson as a director, as well as re-elected Malcolm Ford and Joanne Appleyard as directors. There was no update on the replacement of group CEO Chris Kinraid, who stepped down in September.
For the last fiscal year, the company reported a 8.1 per cent increase in group sales, with Glassons Australia soaring 15.3 per cent, Glassons New Zealand up 1.3 per cent and Hallensteins remaining flat.
