Fashion chain retailer Country Road has confirmed a hefty increase in its sales for the for the first 20 weeks of its financial year, as it settles in as new owner of the Witchery Group.
The company, which recently acquired
the Witchery Group, has now reported a 36.9 per cent increase in
sales for the first 20 weeks of its financial year, compared with the
previous corresponding period.
The figures, in Australian
dollar terms, are understood to include the Australasian sales for
Witchery and Mimco as from September 30 2012, being the effective
date of the acquisition of the chains by Country Road for $172
million.
Sales in Australasian comparable stores for the same
period increased by 12.2 per cent and net total floor space,
excluding the acquisition, contracted by 2.1 per cent.
As
previously reported on ragtrader.com,au, the retailer recently
released results for the October quarter, with comparable sales were
up 13.5 per cent to October 27, and 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.