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Pumpkin Patch is proving that warmth and sunshine are good for growth as it expands in Australia.
The company opened its 107th Australian store this month, with a further two outlets opening soon.
Its general manager of Australian retail, Trish Watt, said she saw a great opportunity in basing the 107th store in Westfield's Doncaster mall in Victoria.
"I enjoyed the fresh and fun vibe from the people in Doncaster and knew that we could offer something a little different with our distinctive designs and progressive style."
Watt said two new warehouse-style outlet centres were also opening in New South Wales.
The Australian and New Zealand stores were rays of light when the company announced its half-year results earlier this year. The 50 New Zealand stores posted an operating profit of $6.9 million, up 18 per cent despite the lacklustre general retail environment, while operating profit for the Australian stores for the six months ended January 31 was up 26.6 per cent to $20.6 million.
The retailer's Australasian fortunes are a marked contrast to its US fate. Earlier this year it announced it was curbing expansion plans in North America.
The company said the credit crunch was affecting retail spending, so was focusing instead on bedding down existing stores before opening new ones.
Pumpkin Patch announces its full-year results on September 17.
A retailing slump and sharemarket softness has seen the share price, which early last year was trading at $4.95, hit rock bottom. It ended yesterday at $1.55, just above the 52-week low of $1.40.
