The PAS Group has revealed an EBITDA of $8.4 million for its first-half results, a figure at the upper end of the guidance range of $8.0m-$8.5m it set earlier this year.
The Review and Jets parent company stated that like-for-like sales dipped due to the challenging trading conditions in the current retail environment.
Reduced concession sales and lower foot traffic at Myer were also to blame, despite positive sales growth coming from new stores which included eight David Jones concessions.
Overall online sales growth reached 25.5%, now representing 14% of total retail sales, up from 11.2% in H1 FY2017.
Wholesale took a 7.1% hit, recording sales of $59.1 million, despite the continued success of the Designworks Sport division.
The company stated it will hold firm on its wholesale strategy, with recent growth opportunities including the acquisition of the Londsdale distribution licence and Coles Mix supply contract expected to yield $15-$20 million p.a. in incremental sales across FY19/FY20.
Further to this, the company will also push for a greater international presence following the launch of the Review brand onto Alibaba's Tmall platform.
PAS said the brand will also launch on Amazon in Q3 FY18, while its localised online store will be re-platformed to feature further enhancements.
PAS Group CEO Eric Morris acknowledged the difficult retail environment, stating the company will continue to develop its strategy and look to convert on further long-term goals.
“The retail apparel segment continues to face unprecedented challenges due to both cyclical and structural changes.
"Whilst this has had a direct impact on sales, we continue to successfully deliver our strategy with several initiatives underway that will underpin the company’s success over the long term.
"Trading conditions for the first six weeks of H2 FY2018 continue to be tough; however, the business is well advanced in the development of plans to drive further efficiencies.
"Despite the trading environment, PAS remains debt free, has a strong balance sheet and continues to evaluate potential strategic opportunities whilst maintaining a tight focus on cost control.”