Friday 11th July 2008
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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.
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