NZ Herald
  • Home
  • Latest news
  • Herald NOW
  • Video
  • New Zealand
  • Sport
  • World
  • Business
  • Entertainment
  • Podcasts
  • Quizzes
  • Opinion
  • Lifestyle
  • Travel
  • Viva
  • Weather

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • New Zealand
    • All New Zealand
    • Crime
    • Politics
    • Education
    • Open Justice
    • Scam Update
  • Herald NOW
  • On The Up
  • World
    • All World
    • Australia
    • Asia
    • UK
    • United States
    • Middle East
    • Europe
    • Pacific
  • Business
    • All Business
    • MarketsSharesCurrencyCommoditiesStock TakesCrypto
    • Markets with Madison
    • Media Insider
    • Business analysis
    • Personal financeKiwiSaverInterest ratesTaxInvestment
    • EconomyInflationGDPOfficial cash rateEmployment
    • Small business
    • Business reportsMood of the BoardroomProject AucklandSustainable business and financeCapital markets reportAgribusiness reportInfrastructure reportDynamic business
    • Deloitte Top 200 Awards
    • CompaniesAged CareAgribusinessAirlinesBanking and financeConstructionEnergyFreight and logisticsHealthcareManufacturingMedia and MarketingRetailTelecommunicationsTourism
  • Opinion
    • All Opinion
    • Analysis
    • Editorials
    • Business analysis
    • Premium opinion
    • Letters to the editor
  • Politics
  • Sport
    • All Sport
    • OlympicsParalympics
    • RugbySuper RugbyNPCAll BlacksBlack FernsRugby sevensSchool rugby
    • CricketBlack CapsWhite Ferns
    • Racing
    • NetballSilver Ferns
    • LeagueWarriorsNRL
    • FootballWellington PhoenixAuckland FCAll WhitesFootball FernsEnglish Premier League
    • GolfNZ Open
    • MotorsportFormula 1
    • Boxing
    • UFC
    • BasketballNBABreakersTall BlacksTall Ferns
    • Tennis
    • Cycling
    • Athletics
    • SailingAmerica's CupSailGP
    • Rowing
  • Lifestyle
    • All Lifestyle
    • Viva - Food, fashion & beauty
    • Society Insider
    • Royals
    • Sex & relationships
    • Food & drinkRecipesRecipe collectionsRestaurant reviewsRestaurant bookings
    • Health & wellbeing
    • Fashion & beauty
    • Pets & animals
    • The Selection - Shop the trendsShop fashionShop beautyShop entertainmentShop giftsShop home & living
    • Milford's Investing Place
  • Entertainment
    • All Entertainment
    • TV
    • MoviesMovie reviews
    • MusicMusic reviews
    • BooksBook reviews
    • Culture
    • ReviewsBook reviewsMovie reviewsMusic reviewsRestaurant reviews
  • Travel
    • All Travel
    • News
    • New ZealandNorthlandAucklandWellingtonCanterburyOtago / QueenstownNelson-TasmanBest NZ beaches
    • International travelAustraliaPacific IslandsEuropeUKUSAAfricaAsia
    • Rail holidays
    • Cruise holidays
    • Ski holidays
    • Luxury travel
    • Adventure travel
  • Kāhu Māori news
  • Environment
    • All Environment
    • Our Green Future
  • Talanoa Pacific news
  • Property
    • All Property
    • Property Insider
    • Interest rates tracker
    • Residential property listings
    • Commercial property listings
  • Health
  • Technology
    • All Technology
    • AI
    • Social media
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology
    • Opinion
    • Audio & podcasts
  • Weather forecasts
    • All Weather forecasts
    • Kaitaia
    • Whangārei
    • Dargaville
    • Auckland
    • Thames
    • Tauranga
    • Hamilton
    • Whakatāne
    • Rotorua
    • Tokoroa
    • Te Kuiti
    • Taumaranui
    • Taupō
    • Gisborne
    • New Plymouth
    • Napier
    • Hastings
    • Dannevirke
    • Whanganui
    • Palmerston North
    • Levin
    • Paraparaumu
    • Masterton
    • Wellington
    • Motueka
    • Nelson
    • Blenheim
    • Westport
    • Reefton
    • Kaikōura
    • Greymouth
    • Hokitika
    • Christchurch
    • Ashburton
    • Timaru
    • Wānaka
    • Oamaru
    • Queenstown
    • Dunedin
    • Gore
    • Invercargill
  • Meet the journalists
  • Promotions & competitions
  • OneRoof property listings
  • Driven car news

Puzzles & Quizzes

  • Puzzles
    • All Puzzles
    • Sudoku
    • Code Cracker
    • Crosswords
    • Cryptic crossword
    • Wordsearch
  • Quizzes
    • All Quizzes
    • Morning quiz
    • Afternoon quiz
    • Sports quiz

Regions

  • Northland
    • All Northland
    • Far North
    • Kaitaia
    • Kerikeri
    • Kaikohe
    • Bay of Islands
    • Whangarei
    • Dargaville
    • Kaipara
    • Mangawhai
  • Auckland
  • Waikato
    • All Waikato
    • Hamilton
    • Coromandel & Hauraki
    • Matamata & Piako
    • Cambridge
    • Te Awamutu
    • Tokoroa & South Waikato
    • Taupō & Tūrangi
  • Bay of Plenty
    • All Bay of Plenty
    • Katikati
    • Tauranga
    • Mount Maunganui
    • Pāpāmoa
    • Te Puke
    • Whakatāne
  • Rotorua
  • Hawke's Bay
    • All Hawke's Bay
    • Napier
    • Hastings
    • Havelock North
    • Central Hawke's Bay
    • Wairoa
  • Taranaki
    • All Taranaki
    • Stratford
    • New Plymouth
    • Hāwera
  • Manawatū - Whanganui
    • All Manawatū - Whanganui
    • Whanganui
    • Palmerston North
    • Manawatū
    • Tararua
    • Horowhenua
  • Wellington
    • All Wellington
    • Kapiti
    • Wairarapa
    • Upper Hutt
    • Lower Hutt
  • Nelson & Tasman
    • All Nelson & Tasman
    • Motueka
    • Nelson
    • Tasman
  • Marlborough
  • West Coast
  • Canterbury
    • All Canterbury
    • Kaikōura
    • Christchurch
    • Ashburton
    • Timaru
  • Otago
    • All Otago
    • Oamaru
    • Dunedin
    • Balclutha
    • Alexandra
    • Queenstown
    • Wanaka
  • Southland
    • All Southland
    • Invercargill
    • Gore
    • Stewart Island
  • Gisborne

Media

  • Video
    • All Video
    • NZ news video
    • Herald NOW
    • Business news video
    • Politics news video
    • Sport video
    • World news video
    • Lifestyle video
    • Entertainment video
    • Travel video
    • Markets with Madison
    • Kea Kids news
  • Podcasts
    • All Podcasts
    • The Front Page
    • On the Tiles
    • Ask me Anything
    • The Little Things
  • Cartoons
  • Photo galleries
  • Today's Paper - E-editions
  • Photo sales
  • Classifieds

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In
Advertisement
Advertise with NZME.
Home / Business / Companies / Retail

Hallenstein Glasson Holdings half-year earnings down almost 4%, dividend cancelled

Aimee Shaw
By Aimee Shaw
Business Reporter·NZ Herald·
29 Mar, 2020 11:47 PM3 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

The retail company's margins were down 1.5 per cent in the six months to February 1. Photo / Jason Oxenham

The retail company's margins were down 1.5 per cent in the six months to February 1. Photo / Jason Oxenham

Hallenstein Glasson Holdings earnings for the first-half of the financial year decreased by almost 4 per cent. It has since activated its pandemic management programme and applied for the Government's wage subsidy scheme to manage ongoing disruption.

The retailer with operations in both New Zealand and Australia posted a net profit after tax of $15.44 million, down 3.8 per cent on the $16m it posted a year earlier.

In the six months to February 1, the company made total sales of $160.2m, up 5.7 per cent compared to the same time last year, with gross margins down about 1.5 per cent in the period.

READ MORE:
• Hallenstein Glasson Holdings CEO Mark Goddard resigns, plans to relocate
• Hallenstein Glasson forecasts higher annual profit as sales grow
• Chatbots and interactive fitting rooms part of Hallenstein Glasson Holdings' plan to combat ever-changing retail market
• Going gets tough for Hallenstein Glasson

The results were in line with its guidance issued to the NZX on February 17.

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

Hallenstein Glasson's says it will not pay an interim dividend due to uncertainty around the impact of Covid-19.

Sales in the company's womenswear retail chain Glassons were up 5.3 per cent to $54m in New Zealand compared to $53.9m, up 10.9 per cent, in Australia.

Sales at menswear chain Hallenstein Brothers were up marginally to $52m in the six months of the year.

Advertisement
Advertise with NZME.

The company says its investment into e-commerce saw its online sales grow to now account for 15 per cent of group sales.

"As a business, we remain focused on continued investment in digital and social channels," group managing director Mary Devine said in a statement released to the NZX.

"Glassons New Zealand, Glassons Australia and Hallenstein Brothers now all have larger fulfilment centres to allow for continued online growth."

In the statement, Devine said sales in the first seven weeks of the company's second-half were up 3.8 per cent prior to disruption from Covid-19 setting in.

Discover more

Small Business

Revealed: How non-essential businesses are making money despite the lockdown

26 Mar 05:00 AM
Retail

Warehouse Group explains NZX mishap

25 Mar 08:01 PM
Retail

Mad Butcher continues to trade despite lockdown order

26 Mar 04:52 AM
Retail

The loophole retailers are using to operate during the lockdown

30 Mar 04:41 AM

The company's physical and online stores are now closed as part of the Government's move to Alert Level 4 Covid-19 lockdown to help stop the spread of the virus. Hallenstein Glasson closed its stores on March 26, but its web store in Australia continues to operate.

"This has resulted in an unprecedented level of uncertainty and it is challenging to forecast the extent of these events on the business," she said.

"The Group has applied for the New Zealand government wage subsidy scheme in order to support employees wages during this uncertain time."

Devine said the group's pandemic plan would reshape the business during the evolving situation. This includes reducing operating and labour costs, managing inventory levels and putting capital projects on hold.

"The Group will continue to follow advice and monitor the situation closely to ensure an agile approach to reduce the adverse impact on trading and protect our team and customers."

When contacted by the Herald, Devine refused to comment on the company's results or outlook for the rest of the year.

Advertisement
Advertise with NZME.
Save

    Share this article

Latest from Retail

Retail

‘We absolutely got this wrong and we're sorry’: The Warehouse responds to ad criticism

02 Jul 05:06 AM
Property

Ikea opening ‘around Christmas trading period’, plans for traffic mitigation at Sylvia Park

01 Jul 10:57 PM
Premium
Property

Surf park developers win fast-track referral for 400+ homes

01 Jul 09:00 PM

There’s more to Hawai‘i than beaches and buffets – here’s how to see it differently

sponsored
Advertisement
Advertise with NZME.

Latest from Retail

‘We absolutely got this wrong and we're sorry’: The Warehouse responds to ad criticism

‘We absolutely got this wrong and we're sorry’: The Warehouse responds to ad criticism

02 Jul 05:06 AM

The Advertising Standards Authority ruled the advert could cause 'serious offence'.

Ikea opening ‘around Christmas trading period’, plans for traffic mitigation at Sylvia Park

Ikea opening ‘around Christmas trading period’, plans for traffic mitigation at Sylvia Park

01 Jul 10:57 PM
Premium
Surf park developers win fast-track referral for 400+ homes

Surf park developers win fast-track referral for 400+ homes

01 Jul 09:00 PM
The Warehouse downgrades earnings forecast to include a worst-case $5m loss

The Warehouse downgrades earnings forecast to include a worst-case $5m loss

30 Jun 09:41 PM
From early mornings to easy living
sponsored

From early mornings to easy living

NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • NZ Herald e-editions
  • Daily puzzles & quizzes
  • Manage your digital subscription
  • Manage your print subscription
  • Subscribe to the NZ Herald newspaper
  • Subscribe to Herald Premium
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
TOP