Affordable fashion retailer Glassons has reported a 29 per cent lift in its Australian sales in the full financial year to August 1, hitting NZ$324.4 million (~A$262.3 million).
The above sales growth is inclusive of revenue from new and refurbished stores.
On a constant currency basis, Australian sales were up 21.4 per cent on the prior corresponding period. Net profit before tax was NZ$43.5 million, an increase of 27 per cent on the prior year.
The uplift in sales came amid a store refurbishment program. During the year, a new store opened in Burwood, NSW, taking the Australian store network to 41 stores at year-end.
The Parramatta store relocated to a larger site in November, the Castle Towers store was refurbished, and the Highpoint store in Victoria was expanded and reopened in June.
Hallenstein Glassons Holdings, Glassons’ overarching parent, noted it continues to assess further store opportunities in Australia as suitable locations become available.
Post year-end, a new store opened in Miranda, NSW, in August, with a further NSW store scheduled to open in October ahead of the peak trading period.
Construction of the Group’s new purpose-built Sydney warehouse was completed during the year as well. The new warehouse, located in leased premises, incorporates company-owned increased automation and additional capacity to support the Australian business. It commenced operations in the first week of the 2027 financial year.
Glassons’ sales growth in Australia came as the overarching company reported a 19.6 per cent lift in total group sales to NZ$563 million.
The directors note the result has benefitted from a stronger Australian Dollar and, on a constant currency basis, sales were up 15.6 per cent on the prior year.
Group gross margin grew by 240 basis points to 61.7 per cent, despite a continued challenging foreign exchange rate for inventory purchases, which was lower than the prior corresponding period. The improved margin reflects stronger sales at full price, HGH reported, as well as working closely with suppliers and freight forwarders to secure best possible rates.
The audited group net profit before tax for the 12 months was NZ$83.9 million, an increase of 43.8 per cent, with NPAT up 49.9 per cent to NZ$59.2 million.
The strong growth in Australia for Glassons was matched with reasonable growth in New Zealand. Glassons NZ sales lifted 11.5 per cent to NZ$124.8 million, with NZ NPBT up 51.9 per cent to NZ$29.1 million.
During the year, the Hamilton Central store was refurbished and reopened in August, while the Porirua store was expanded and refurbished to bring it in line with current brand standards. The Frankton, Queenstown store, which opened in July 2025, has now completed its first full year of trading.
Post year-end, the New Plymouth store has undergone refurbishment and has reopened in September.
As for HGH’s other fashion subsidiary Hallensteins, that retail brand’s sales for the 2026 financial year hit NZ$113.8 million (including Australia), representing an increase of 6.1 per cent on the prior corresponding period.
On a constant currency basis, total Hallensteins sales were up 5.4 per cent on the prior corresponding period.
Net profit before tax grew by 129.5 per cent to NZ$10.9 million.
During the year, the Hamilton Central store was refurbished and reopened in September 2025, while Lynn Mall was expanded and refurbished in December 2025 to align with current brand standards. Smaller upgrades were also completed at St Lukes, New Plymouth and Albany to improve the presentation of those stores.
In Australia, the Robina pop-up store closed and was replaced by a larger permanent store in November 2025. In March 2026, the Harbour Town store on the Gold Coast relocated to a significantly larger site, providing greater capacity for full-price product and supporting improved store profitability.
Post year-end, a new store opened at Indooroopilly, QLD, taking the total number of Hallensteins stores in Australia to six. The Group will continue to assess the performance of the Australian store network and consider further expansion opportunities where appropriate.
In the e-commerce side, HGH reported that group digital sales represented 19 per cent of group revenue. Online sales grew overall by 26.2 per cent.
For the first eight weeks of the new financial year, HGH reported an 18.4 per cent lift in group sales on a constant currency basis. Sales were ahead of the prior corresponding period across both brands, with the result also reflecting the contribution from recently opened and refurbished stores.
“While trading to date has been ahead of the prior year, the period represents a relatively small part of the financial year and precedes the important Black Friday and Christmas trading periods,” the company shared in its trading update.
“The rate of sales growth achieved in the opening weeks is not expected to continue at the same level through the remainder of the first half.”