Sharechat Logo

Postie calls shareholders together

Friday 11th July 2008

Text too small?
Postie Plus Group called shareholders to a July 29 meeting to vote on the sale of the company's Arbuckles stores to cashed-up Kathmandu founder Jan Cameron.

The company announced the deal with its third-quarter sales on June 6, saying Cameron agreed to buy Arbuckles for a yet-to-be decided amount. Postie Plus, which is 15% owned by Cameron, said it decided to sell Arbuckles after a strategic review.

Postie Plus announced a drop in third-quarter sales and said annual profit would be weaker than expected. Since then other clothing chains have cut their forecasts, citing weak consumer demand.

By Jonathan Underhill

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
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