CR update welcome news

MELBOURNE: Country Road's trading update for the 20 weeks to November 15 shows the retailer defying the downturn, with total sales up 17 per cent, sales in stand alone stores up 12.6 per cent and sales in comparable store terms up 8.3 per cent on last year's corresponding period. Meanwhile sales in department store concessions were 16.2 per cent up on last year, on substantially lower clearance activity this year, with comparable concession store sales up 10.3 per cent.

Total sales growth on last year included wholesales sales for the new Coutnry Road business expansion initiative in South Africa, announced in June.