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SFG sales fall flat

 

millersWomen’s clothing retailer Specialty Fashion Group (SFG) says sales are down as consumer confidence remains weak.

The company owns brands including Millers, Katies and City Chic.

Gary Perlstein, CEO of SFG, told the company’s annual general meeting that if the sales trend of the first few months of the 2013/14 financial year continues, first half profit will be weaker than the previous year’s $18 million.

“We’ve seen no positive influence from consumer confidence since the federal election,” Perlstein said.

“It is hoped that the political certainty will restore consumer confidence.”

Specialty Fashion shares were down one cent at 89 cents at 1247 AEDT.

AAP

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