Friday, 18 February 2011

Kings Park. Fashion retailer reports plunge

Fashion retailer Noni B has , at Kings Park, has reported a 58 per cent plunge in first-half net profit to $1.5 million in conditions executives described as the toughest in 20 years. Joint MD, David Kindl, blamed volatile consumer confidence, the prospect of higher energy costs and the federal government's flood levy for making shoppers reluctant to spend on discretionary apparel purchases. He said the second half would continue to be uncertain as consumer confidence remained volatile. He said it was too early to tell if the company would turn in a reasonable profit for the full year. This was the worst retail condition he had experienced since the recession of 1991-92, he said.



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