Sharechat Logo

Postie Plus predicts growth after slow couple of months

Friday 2nd July 2010

Text too small?

Postie Plus Group sales tapered off in May and June after a surge in the first four months of the year, and the clothing retailer is predicting annual sales growth of 4.5%.

The Christchurch-based clothing retailer said the market slowdown of the past couple of months impacted on its sales growth, which it now forecasts to be about $115.3 million in the year ended August 1, compared to $110.4 million of actual sales a year earlier. Needing almost $30 million in the last quarter to meet its target, Postie Plus expects strong sales in July from its planned winter promotion.

According to government data, households have been reluctant to resume their spendthrift ways this year, preferring to focus on paying down debt, with private consumption up 0.2% in the first three months of the year. Consumer confidence dimmed last month, according to ANZ New Zealand and Westpac surveys.

Postie Plus shares were unchanged at 32 cents in trading today and have slumped 20% this year.

Businesswire.co.nz



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Pumpkin Patch today's best NX50 performer after return to profit in 2013
Postie Plus expects loss in 2013 earnings as sales fall 10.5 percent
Postie Plus appoints No 1 Shoes executive Binns as new CEO
Postie Plus 3rd-quarter sales from continuing ops fall 14 percent on stock disruptions
Postie Plus reels from outsourcing woes as 1H loss widens, burns through cash
Postie Plus gains extension of banking facilities, avoids breach
Postie Plus warns of further potential breaches of banking covenants
Postie Plus renegotiates banking covenants because of potential breach
Postie Plus posts full-year loss on costs
Postie Plus FY sales fall 4.4% on sale of Babycity, flat Postie revenue