Postie Plus says weather hit final quarter sales

Clothes retailer Postie Plus, which has handed investors a series of disappointments since listing in 2003, dealt out another one today with the warm winter taking the blame.

It said today final quarter same store sales fell 1.7 per cent on a year ago.

Including new sales, its total sales for the quarter ended July 31 rose to $30.50 million from $29.12m the previous year.

A warm July month significantly affected sales for the final quarter, managing director Paul Young said.

Full year sales rose to $113.79m from $108.03m the previous year.

The company expects to announce its second half profit on September 16.

Postie Plus shares closed yesterday at 72, well down on their $1.28 listing level in September 2003. The shares were issued at $1.

- NZPA