New Zealand's Postie Plus Group (PPG) has reported a decrease of 4.6 per cent in its top line sales.
Between August 1 2011 and January 29 2012 the company, which operates Postie, Babycity and school uniform business SchoolTex, has posted sales of $53,924 million, compared with the same period last year of $56,536 million.
However, the overall group gross margin percentage improved for the period, following a stronger performance by the womenswear Postie brand.
A company spokesman said the recent
'back to school' period saw a deferment of sales in the Schooltex
brand, with some of this transferring into the second half.
In
line with PPG’s move to close down poor performing stores as leases
expire, four Babycity stores have also closed.
“The group is
showing positive sales figures for the new season’s product as it
looks to the second half with stock levels below last year,” a
spokesman said. “The results for the Christchurch region also
continue to be strong.”