Skip to content

Fashion giant Hallenstein Glasson holds up during lockdowns

Fashion giant Hallenstein Glasson holds up during lockdowns

Navigation for News Categories

The clothing retailer group Hallenstein Glasson has reported a robust full year profit of $27.8 million, down only slightly on last years’ $29m, despite the Covid-19 lockdowns in New Zealand and Australia.

Hallenstein Glasson's December sales fell.

Hallenstein Glasson’s December sales fell.
Photo: RNZ

Online sales ballooned by 47 percent, with growth in the second half of the year 80 percent more than the same time last year.

Group managing director Mary Devine said there would be continued investment to keep up the digital momentum.

“Online sales now represent 22 percent of total sales for the full financial year but represented 30.3 percent of the total sales for the second half of the year. The growth in online sales have continued into the new financial year being ahead of last year.

“The previous investment in fulfilment centres has been effective in supporting the Groups online sales growth. There will be continued investment in digital as we continue to accelerate online sales growth and focus on an omni-channel experience for our customers,” she said.

The first eight weeks of the new financial year saw sales up 10.7 pct on the same time last year, predominantly driven by online.

Sales for its Glassons brand were up in both countries, while Hallensteins sales were down

“[Hallensteins] sales were more challenging in the second half of the year as demand for tailored product diminished with the impact of lockdowns on people working remotely and restrictions on gatherings.

“However, sales results in the casual categories are encouraging and have outperformed over the financial year.”

The Group’s margin was impacted by unfavourable exchange rates with the US Dollar in both New Zealand and Australia as well as challenges with freight costs resulting from a lack of air movement.”

Devine said despite the positive result, and encouraging start to the new year, the company would remain cautious on possible further Covid-19 outbreaks.

A full year dividend of 39 cents a share would be paid.

Get the RNZ app

for ad-free news and current affairs
Download from Apple App StoreDownload from Google Play Store

XL subscribe to our newsletter banner

Get the latest news and advice on COVID-19, direct from the experts in your inbox. Join hundreds of thousands who trust experts by subscribing to our newsletter.

Send your news and stories to us or and WhatsApp: +447747873668.

Before you go...

Democratic norms are being stress-tested all over the world, and the past few years have thrown up all kinds of questions we didn't know needed clarifying – how long is too long for a parliamentary prorogation? How far should politicians be allowed to intervene in court cases? To monitor these issues as closely as we have in the past we need your support, so please consider donating to The Climax News Room.

Privacy Policy Designed using Unos Premium. Powered by WordPress.

Live Updates COVID-19 CASES