Specialty Fashion Group reports loss of $2.8mn in FY'12

However, rental market conditions have improved in certain locations, and the Company also expects to open new stores that offer attractive investment returns.

Specialty Fashion Group CEO, Gary Perlstein, said: “We have a strong balance sheet and this combined with the business improvement initiatives underway positions the Company to trade solidly in FY2013, and improve the Group performance.

"While growth of the womenswear market is expected to be low we are focused on pursuing expansion into new sales channels and product categories. We believe we have the largest women’s retail shoppers database in Australia and a unique opportunity to monetise this asset.”

Specialty Fashion Group Limited