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Billabong turns corner

Troubled surf wear retailer Billabong says its brand will grow in the US for the first time in many years after 14 per cent sales growth in first quarter wholesale in the market. CEO Neil Fiske, on Friday told shareholders that second quarter US sales are expected to lift eight per cent although shipping delays due to America’s West Coast port congestion could cut into tha...

Sales up but profits down for Kathmandu

Sales for adventure clothing retailer Kathmandu have jumped more than 18 per cent but it expects its half year profit to fall. Kathmandu achieved sales of $NZ84.1 million in the 16 weeks to November 16, up 18.6 per cent on the same period a year earlier. Excluding the impact of new stores and closures, that growth was 16 per cent. Acting CEO Mark Todd, said sales in Kathma...

Pac Brands continues fire sale

Pacific Brands has sold a range of its shoe and clothing brands, including its iconic Volley sneakers, to several buyers for $39 million. The footwear and apparel categories of the Brand Collective business — which includes the Volley, Hush Puppies and Clarks brands — will be sold to Australian private equity firm Anchorage Capital Partners. The group’s sport brands Dunlop...

China FTA a double-edged sword for local TCF

Unions are concerned that last-weeks historic trade deal with China could lead to job losses in the manufacturing sector however local TCF companies are eyeing potential opportunities. Unions are urging the federal government against "selling out" Australian jobs and have called for strong protections for workers as part of a new free trade agreement with China. China'...

Myer predicts profit growth, attacks GST “loophole”

Department store Myer has moved to appease frustrated investors, forecasting its first profit growth in four years. However investors registered a sizeable protest vote against the company’s executive salaries at their annual general meeting. CEO Bernie Brookes, said Myer was building strong momentum ahead of Christmas, and expected to achieve sales and bottom line profit...

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