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Hallenstein Glasson profits hit by Covid

(Source: Hallenstein Glasson/Facebook)

Trans-Tasman fashion retailer Hallenstein Glasson has reported a 40-per-cent reduction in half-year profit, citing Covid disruptions.

Group sales fell 6.5 per cent to $170.63 million, with net profit at $11.91 million compared with the previous corresponding period. 

The company’s e-commerce sales continued to increase during the period, now contributing 32.8 per cent of total group sales. The Glassons app registered 500,000 downloads while the company updated its website to continue to improve its user experience and design.

The business lost 5432 trading days due to various government-mandated lockdown measures in both Australia and New Zealand. Various other cost control measures were introduced during the half, reducing operating costs, managing inventory levels to preserve liquidity and investing in technology. The company received rent-relief where stores were closed.

According to group CEO Stuart Duncan, the business is looking forward to a stronger finish to the financial year since the Omicron outbreak has passed its peak. 

“We will continue to focus on building digital engagement with our customers, enhancing the store experience whilst maintaining cost control and delivering the latest on-trend product with a focus on sustainability.”

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