Home / Knowledge / News / Apparel/Garments / Country Road posts 6.4% increase in H1 sales
Country Road posts 6.4% increase in H1 sales
21
Jan '11
Country Road announced that sales for the first half ending 31 December 2010 were 6.4% up on the corresponding period of the prior year. Despite difficult trading conditions through the first half, Country Road expects a profit after tax growth of between 3% and 5% on the prior year for the same period.

Against the corresponding period last year, key factors underlying the performance include:

• Total retail sales, including new stores, were marginally up on prior year with comparable like for like sales down 9.6%;
• Total concession sales, inclusive of the new concession arrangements with Woolworths in South Africa, were up 25.0%. Concession like for like store sales in Australia were down 10.7%.

“The challenging trading conditions were brought about by a significant drop in consumer spending through the half. These difficult conditions were anticipated and significant cost saving initiatives were implemented throughout the half to offset the impact of softer trading.

These cost reductions, combined with stricter inventory management have resulted in modest levels of profit growth for the half” said Director Ian Moir.

“The retail outlook for the next six months remains challenging. Our expectations on sales remain conservative but we will continue to manage our inventories and cost base appropriately” said Moir.

At Country Road, we're passionate about creating simply beautiful products designed to reflect an authentically Australian way of life. We're committed to great quality and value. Our reputation is built on sourcing the very finest raw materials, fabrics, woollen yarns, and crisp Italian cottons the world has to offer. This means we can combine top design trends with our signature fine tailoring and attention to detail, creating effortlessly stylish pieces for contemporary lifestyles.

Country Road

Must ReadView All

Textiles | On 6th Dec 2016

Garments, yarn export entitlement quota extended for 1 yr

Indian government has extended the export entitlement quota for...

Textiles | On 6th Dec 2016

Cash inflow will revive sales: Textile industry

The textile industry representatives are hopeful of revival of...

Courtesy: SIMA

Textiles | On 6th Dec 2016

Amma gave special attention for textile growth in TN: SIMA

Former Tamil Nadu chief minister J Jayalalithaa paid special...

Interviews View All

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search