Pacific Brands
SYDNEY: Clothing, footwear and bedding manufacturer Pacific Brands has downgraded its earnings forecast for the first half of the 2006 financial year. The company expects its first half earnings before EBITA will be down between two and five per cent on the previous corresponding half year period. Chief executive Paul Moore said subdued consumer demand, particularly in the women's underwear segment, impacted first quarter results and a stronger November and December result was not enough to make up the earlier shortfall. Full year results will be announced on Feburary 22.
:Country Road
MELBOURNE: Apparel and homewares retailer Country Road has announced its retail sales for the first six months of the fincial year were 6.7 per cent higher than last year. Wholesale sales were down 16 per cent compared to the previous corresponding period but in line with budget and with improved margin. Total sales were one per cent higher than last year for the six months.
:Michael Hill
NEW ZEALAND: Jewellery retailer Michael Hill International has issued a profit downgrade as a result of poor sales in Australia over the Christmas period. Same store sales in Australia during the December quarter were down 5.3 per cent on last year. The company said total Australian sales were 2.3 per cent down on the same period last year, while New Zealand sales were up 1.6 per cent and Canadian sales 9.9 per cent up. Michael Hill expects its net profit after tax for the six months ended December 31 to be between $10.5 and $11.5 million.
:Rebel Sport
SILVERWATER: Sporting apparel and equipment retailer Rebel Sport has posted a 13.5 per cent increase in group sales revenue to $183.9 million for the half year ended December 31, 2005. Sales on a same store basis increased by 7.1 per cent. Managing director Stephen Heath said the half year result was pleasing and was bolstered by an exceptionally strong second quarter (October 2005 to December 2005). Sales for the second quarter increased by 18.6 per cent in total and 11.4 per cent on a same store basis. During the period Rebel opened six new stores in Western Australia, Victoria, Queensland and New South Wales. A further Glue store was also opened in Tuggerah, NSW.
:Austin Group
MELBOURNE: Apparel manufacturer Austin Group has joined the list of companies to have issued profit warnings. The company said net sales for the first half of the financial year were anticipated to be five per cent below the previous corresponding period and earnings to be in line with last year. Full season sales are also expected to be 15 per cent below the previous corresponding period. As a result, earnings for the six months are forecast to be $1.5 million, down 47.5 per cent last year. The company is confidet that winter 2006 full season sales and earnings will be in line with the previous corresponding period.