Kings Park. 'Not aware' of takeover buyer

The founders and major shareholders of womenswear retailer Noni B have rejected speculation that the group's weak share price has made it a takeover target. “I am not aware of any speculation that the company is a takeover target and I am not aware of anyone who is interested in buying the company," says joint managing director David Kindl, who shares the top job with his identical twin. "We have no thoughts about selling the company. It's not on the radar. We are simply focused on selling frocks, pants, jackets and jewellery." Kindl is the first to admit the womenswear chain of 218 stores around the country is struggling in conditions described as the toughest in 20 years.

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.

Kings Park. Noni B's net profit up 68 per cent

Kings Park women’s fashion retailer Noni B’s loyal customer base and focus on the 40-plus women’s market appears to have paid off, with the retailer recording a 68 per cent rise in full-year net profit to $3.9 million for the year to June. The result was helped by the company’s focus on controlling margins and costs, according to The Australian Financial Review.

Blacktown. Noni B battles on

Women’s fashion retailer Noni B, in Blacktown. expects to break even or make a small loss for the second half of this financial year as it battles relentless discounting by its heavyweight competitors and low consumer confidence. The company said its loyal customer base and focus on the 40-plus women's market will help it lift profitability by 50 per cent for the full year. Noni B said it was navigating the tough retail conditions by avoiding some of the more aggressive discounting that had taken place this year and by keeping a tight control on costs, helping it to improve margins. It expects to report a full-year profit of between $3.4 million and $3.8 million, against a profit for 2008-09 of $2.3 million.

Profit of women's apparel retailer drops

The Kings Park-based apparel retailer, Noni B, said its full-year net profit would drop from $8.3 million last year to between $6 million and $6.7 million for the year ending June 30, 2008. Joint MD, David Kindl said NSW, which accounted for 40 per cent of the group’s 201 stores, had been struggling as higher interest rates, rising food and fuel prices and the credit squeeze hit into its revenue. He said the performance of its flagship Noni B and Liz Jordan brands was in line with last year’s performance, its newer La Voca store chain posted a $800,000 half-year loss. The group’s full-year results will be released on August 20.