New Zealand apparel group Hallenstein Glasson has revealed a slump in sales over Christmas, with its brand stable now under the microscope.
Directors for the company confirmed that group sales for the month of December were down -10 per cent on the prior year.
Based on these results, it is understood that the business has since actively undertaken a review of the performance of all brands and identified areas that were a factor in this downturn.
Directors said steps are now being “put in place to rectify these areas”.
Due to the significant impact December has had on profit, Hallenstein Glasson also added that after tax profit for the six months ending February 1, 2014 is now forecast to be approximately $6.0 to $6.3 million.
The reviewed figure represents a decrease of -39 per cent on the prior period ($10.3 million).
Full results for the six months ending February 1 2014 are expected to be released to the market on March 25, 2014.