May 11, 2016
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Hallenstein Glasson to focus on e-commerce

May 11, 2016

New Zealand fashion retailer Hallenstein Glasson revealed it plans to focus more on e-commerce, on the back of changing demands in consumer purchasing habits recorded during the first-half of the year.

Hallenstein Glasson to focus on e-commerce - Glassons

In April, Hallenstein Glasson posted a 21.1% drop in first half net profit after tax, unaudited, to $6.81 million compared to the $8.63 million from the previous corresponding period. 

The company reported a 1.4% increase in total group sales for the six-month period, ending February 1, to $112.39 million compared to the $110.86 million in the same period the previous year.

Hallenstein Glasson operates the Hallenstein menswear brand and the Glassons and Storm womenswear brands. All the brands saw sales growth apart from Glassons in New Zealand, with chief executive Graeme Popplewell telling investors that there has been a "significant focus on improving the fashion offer" which should see better future performance.

Despite the downturn, Hallenstein Glasson reported a H1 growth in its online business, beating out its standalone store sales.

"On a more positive note our e-commerce business continues to outstrip growth in bricks and mortar stores, with sales for the first seven weeks of the season up 38%," said Hallenstein Glasson's chairman of directors, Warren Bell. 

It signals a shift in consumer purchasing patterns for the firm, prompting more investment into online channels, in the hope of a profit upswing for the full-year.

"We anticipate this trend to continue and we continue to put focus and investment into this part of our business."


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