Hallenstein Glasson's first-half net profit is down 21 percent, impacted by tighter margins and a weak currency.
The clothing retailer made a $6.8 million net profit in the first six months to February, down $2m on the previous earlier.
Hallenstein Glasson said sales rose a touch to $112.4m, despite the challenging environment.
It said all its brands, with the exception of Glassons in New Zealand, achieved positive sales growth.
Hallensteins' sales rose 6 percent on last year.
The company said there had been a significant focus on improving Glassons' trading performance in the past couple of months, which should help improve its future performance.
It said online sales were growing strongly, but the unseasonably warm weather was disrupting autumn sales.