9/26/2011

Hallenstein Glasson Holdings cited unseasonable weather as leading to a lack of demand in some of its products as the Auckland-based clothing retailer posted a 6.6% drop in annual earnings. "During February to July, we had to contend with the warmest winter recorded in New Zealand for some time, which was not conducive to apparel sales," said Chairman Warren Bell. "In addition, the Christchurch earthquake resulted in seven of our stores closed for the balance of the season."

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