Postie Plus profit to dip on last year after weak quarter

Photo / Martin Sykes

Postie Plus Group said sales fell 5.33 per cent in its fourth quarter from the same period a year ago, meaning it did not meet sales and margin milestones for the year.

The seller of fashion clothing for women, men and children said sales rose 3 per cent in the year to August 1.

The sales report comes ahead of the profit result due on September 24.

The directors said yesterday that the full-year profit would be marginally below last year's result.

Same-store sales for the year rose 3.5 per cent but fell 3.2 per cent in the last quarter.

"Trading in the last quarter is of key importance to the group every year and we targeted our customers strongly in this period," managing director Ron Boskell said.

The annual rise in sales compared well to a flat retail performance across New Zealand.

- NZPA