28 Oct 2009

Retailer cuts costs as sales fall

6:06 am on 28 October 2009

Profit at Kirkcaldie & Stains is up by almost a fifth after the high end retailer in Wellington cut costs to cope with the downturn in consumer spending.

The company made $1.5 million in the year to the end of August, an increase of 19% on the previous year. However, sales fell 4% to $44.1 million.

The company declared a dividend of 5 cents per share.