Fashion chain retailer Country Road has flagged a bright future on the horizon, following uplifting sales results for the October quarter.
The company, which officially acquired the Witchery Group last month, reported comparable sales were up 13.5 per cent to October 27, with total Australasian sales for the period adding up to $116 million.
In addition, the company said it expects 2013 to be “an exciting year for the business”, with a new CEO, Iain Nairn at the helm, replacing Howard Goldberg, and the integration of Witchery Group as a key focus.
The group will also welcome a new company secretary today – Oliver Kysela – following the resignation of former company secretary David Thomas effective immediately.
Commenting on the changes, the company said it was essential to future growth.
“Australia's apparel market is at a cyclical low, providing the opportunity for Country Road to consolidate its position ahead of the expected economic recovery”.