Due to disruptions from the Covid-19 pandemic, trans-Tasman fashion retailer Hallenstein Glasson has reported a 40-per-cent reduction in their half-year profit.
The business reportedly lost 5432 trading days due to the numerous lockdown mandates in both Australia and New Zealand. Hallenstein Glasson introduced cost control measures during the half by reducing operating costs, managing inventory levels to preserve liquidity and investing in new technology. The company received rent relief when stores were closed.
According to Hallenstein Glasson CEO Stuart Duncan, the business is looking forward to a stronger finish to the financial year since the peak of the Omicron outbreak has passed.
“We will continue to focus on building digital engagement with our customers, enhancing the store experience whilst maintaining cost control and delivering the latest on-trend product with a focus on sustainability.”