Sharechat Logo

Postie Plus FY sales fall 4.4% on sale of Babycity, flat Postie revenue

Friday 31st August 2012

Text too small?

Postie Plus Group reported a 4.4 percent decline in full-year sales after selling its Babycity chain and maintaining little changed revenue at its Postie clothing outlets.

Sales fell to $110.9 million in the year ended Aug. 5, from $115.7 million a year earlier, the Christchurch-based company said in a statement.

Sales from Babycity, which was sold for about $4.1 million in May, fell to $16.9 million from about $22 million, while sales at its Postie stores were $94 million from $93.8 million.

"We want to focus on building the higher margin, flagship Postie brand and expanding our nationwide retail footprint through acquisitions in the future," said chief executive Ron Boskell, who steps down in January after seven years running the company. One of Boskell's last tasks is overseeing the relocation of the company's headquarters to Auckland and completing an overhaul of executives.

overseeing the relocation of the company's headquarters to Auckland The company will release its full-year results on Sept. 24. Postie Plus shares last traded at 24 cents and have declined 7.7 percent this year.

  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 says Ron Boskill to step down after 7 years as CEO