A market analyst says Hallenstein Glasson still has opportunity to extract more value out of its operations despite the tough trading conditions.
The listed clothing retailer's annual profit rose 15% to $21 million for the year to the start of August, following the opening or upgrading of Glassons stores in New Zealand and Australia.
Sales are up 7% already in the new financial year, but Hallenstein's warns consumers remain prudent, while its focus will be continuing to refurbish its Hallenstein, Glasson and Storm stores.
Retailers have been under pressure from intense competition, including the growing online trade, but Craig Investment's head of research Mark Lister says Hallenstein's a good brand and it is run very well.
"I think there's still opportunities for them to extract a little more value our of their operations. I think they'll continue with the store refurbishments across all of their brands and that'll help. It seems to have worked so far."
Mr Lister believes Hallenstein Glasson will continue with its e-commerce and online operations and will try and pay attention to the little things to get as much as they can out of the business.
He predicts a safe and steady year for the company.
