Noni B abandons La Voca brand

Kings Park-based apparel retailer, Noni B, will abandon its foray into the younger women’s market and write off the $5 million investment in the La Voca brand. It will convert 11of its 19 La Voca stores to Noni B stores and will negotiate with landlords to close the remaining eight stores. MD, David Kindl, said the return on the investment had been abysmal. With weakening consumer sentiment, higher fuel prices, rising food costs and interest rates, the company had problems selling the brand. Noni B expects full-year after-tax profit to fall to between $3 and $3.2 million, after taking into account restructuring costs of between $1.8 million and $2.5 million.