Despite posting a 7.3 per cent increase in sales to $505.1 million for the 2011 financial year, The Reject Shop has reported a 31 per cent decrease in total annual profits.
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Kathmandu sees better results
The company expects that EBIT to be between NZ$63 million and NZ$65 million, compared to $47.9 million for the previous year. This will be a 31 per cent to 36 per cent increase.
CFS Retail sees steady sales
While its department stores suffered a 10 per cent decline in sales contribution, it saw specialty contribution increase by 5.1 per cent in comparable sales during the past six months to 30 June 2011.
Thorn sees 40% profit increase
A spokesperson for Thorn Group welcomed the figures, saying they had been driven by a 7.5 per cent customer growth in the Radio Rentals and Rentlo businesses.
Westfield reports solid Aussie conditions
Retail sales growth 1.6 per cent in Australia through the quarter, 0.3 per cent in NZ, 5.4 per cent in the US, and 19.8 per cent in the UK, based on Westfield’s London site.
Easter sales boost Kathmandu’s position
Kathmandu CEO Peter Halkett said the 13 week period ending 1 May 2011 was helped by “very favourable” weather in Australia and the Easter long weekend.
Harvey Norman feels the pressure
The sales from the franchised complexes, commercial divisions and other sales outlets in Australia, New Zealand, Slovenia, Ireland and Northern Ireland totalled $4.7 billion for the period.
New products boost Kathmandu’s profits
Outdoor clothing retailer Kathmandu has reported a 21.6 per cent increase in EBIT to $15.2 million, for the six months ended 31 January 2011.
Discounting deflates Harvey Norman’s profits
The electronic and furniture retailer announced that its half-year profit before tax from continuing operations was $198.61 million compared to $237.77 million for the half year of the same period on the previous year.