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HomeNEWSFast fashion online pays off for Hallenstein Glassons

Fast fashion online pays off for Hallenstein Glassons

Fashion retailer Hallenstein-Glassons has lifted sales and profit amidst difficult summer trading conditions here and across the Tasman.

Its half year net profit was up almost 6 percent to $16 million in the six months to February.

Sales were up 3 percent to $151.2m, however, its gross margin fell due to more discounting.

Chair Warren Bell said the company will continue to control costs, refurbish physical stores, and invest in its online platform to increase market share in New Zealand and Australia.

“The focus will be on fashion, speed to market and customer service to keep the brand in a strong position.

“The key marketing focus for both Glassons and Hallenstein Brothers is building digital engagement,” Mr Bell said.

Online sales made up 14 percent of company revenue in the period.

Both of its brands, Glassons and Hallenstein Brothers, saw growth of around 1.5 percent.

Mr Bell said it was encouraging to see sales for the winter season already up by 1.5 percent.

The company’s chief executive resigned earlier this year, with the replacement, Mary Devine, to start next week.

The shareholder dividend has been held at 20 cents a share.

This article originally appeared on Radio New Zealand. 

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