2 Mar 2011

Pumpkin Patch profit falls

8:59 am on 2 March 2011

Pumpkin Patch is expecting New Zealand retail spending to remain subdued.

The children's clothing retailer's profit fell 44% to just over $8 million in the six months to the end of January, compared with the same period the year before.

Pumpkin Patch says earnings have been hit by lower sales, a rising New Zealand dollar, and higher fixed costs.

Pumpkin Patch chief financial Matthew Washington says the Christchurch earthquake may shake confidence in an already flat retail market.