Hallenstein Glasson Holdings Limited Analysis

Overview

The present company was the vehicle for the merger of Hallensteins and Glassons retail chains in 1985. The company's stores cater for the medium priced-quality end of the market, and the group's property assets are principally occupied by Hallensteins and Glassons stores.

In June 2003, the company decided to withdraw its Hallensteins menswear chain from Australia and focus expansion on the Glassons womenswear chain.

In March 2004 it agreed to sell its HBKGirl outlets. In September 2007 the group's total stores stood at 111, including 25 in Australia.

In May 2008, HLG moved its Glassons buying team to Melbourne for the purposes of moving its `core function' to the `growth opportunities' that are present within the Australian market.

Performance

The following information was extracted from Hallenstein Glasson Holdings Limited's half year, released 27 March 2026

UNAUDITED RESULTS FOR 6 MONTHS ENDED 1 FEBRUARY 2026

The Company advises that unaudited total Group sales for the six months to 1 February 2026 were $275.2 million, an increase of 14.6% compared to $240.0 million in the prior corresponding period.

Gross margin on sales was 60.9% compared with 58.5% in the prior corresponding period. The improvement in margin was despite a continued challenging foreign exchange rate for inventory purchases, which was lower than the prior corresponding period.

Group unaudited net profit before tax (NPBT) was $39.8 million, an increase of 32.9% over the corresponding period last year ($29.9 million). The result is in line with the guidance announced to the NZX on 27 February 2026.

Group unaudited net profit after tax was $28.0 million, an increase of +32.1% on the prior corresponding period ($21.2 million).

The Group maintains a strong balance sheet and working capital position.