According to chief financial officer Chris Mentis, the global sales were negatively affected by the deterioration of the New Zealand dollar, the Euro and the UK Pound.
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Two brands to drive retail success
While sales for Nick Scali in the second quarter for the first half year to 31 December 2010 deteriorated, trading conditions during the half year was “well”.
Acquisitions helping Bunnings
Rent reviews, acquisitions and improvements to investment properties helped increased the income for Bunnings Warehouse Trust Property.
JB Hi-Fi pushes online presence
The company has reached a record half year net profit of $87.9 million from $1,683 billion of sales for the six months ending 31 December 2010, with total sales up by 8.3 per cent.
Challenging road ahead
The company said Country Road expects a profit after tax growth of between 3 and 5 per cent on the prior year for the same period.
Kathmandu’s strong start
Kathmandu said its performance for the six months to 31 January 2011 is expected to be “significantly ahead” of the same period last year.
Water damages retailer’s profits
The main concern for Specialty Fashion Group is the impact that the Queensland floods will have on its business as it continues to face challenging trading conditions.
Rough surf for Billabong
The company now anticipates first-half NPAT will be 8 to 13 per cent lower than the prior year in constant currency terms.
Centro to see fall in profit
The company said it anticipates its half-year underlying profit for period ending 31 December 2010 will be 20 per cent below the $81 million from corresponding results last year.