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Postie Plus - Source: ONE News -
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Clothing and nursery product retailer Postie Plus Group has lifted first quarter sales 15% from a year earlier.
Chief executive Ron Boskell says the group should significantly reduce its customary first half loss given the good growth in sales and margins within each of the retail businesses.
Last year, Postie Plus recorded a $2.6 million first half loss.
Boskell says the rise in sales in the first quarter indicated the company was outperforming the specialty market and followed a good second half, to July 31, when group sales lifted 9.7%.
In the spring quarter, which ended October 31, group same store sales also lifted 13%.
The sales trend was "really pleasing", Boskell says.
"The sales uplift shows solid growth across each of our key brands, with our Postie and Babycity customers clearly relishing the improved quality, selection and fit that we have worked very hard to achieve."
The group continued to make the operational savings that were
evident at year-end, with the result that it had stronger cash flow
being generated across the counter.
Postie Plus shares last traded at 39 cents on Friday, having ranged
between 20 cents and 43 cents in the past year.
