The Rugby World Cup and shortened school terms have negativity impacted New Zealand's Postie Plus Group's (PPG) sales, say bosses.
In announcing the results for the first quarter of the financial year, the family clothing focused group, which operates Postie, Babycity and school uniform business SchoolTex, said it has been a 'difficult' time in the apparel sector.
The PPG recorded sales of $23.968million, which is down 4.26 per cent on the same period last year.
“While trading has continued to be difficult in the apparel sector, it has been exacerbated by the World Cup which particularly impacted school uniform sales in October because of the change in school terms,” A PGG spokesman said. “Inventory continues to be well managed and is approximately 5 per cent below last year and costs continue to be tightly controlled.”
Earlier in the month New Zealand department store chain, The Warehouse Group, reported an increase in sales – thanks in part to Rugby World Cup merchandise.