New Zealand's Hallenstein Glasson full-year sales up on Australian dollar, digital sales strength

Hallenstein Glasson Holdings

28/09/2026 21:05

Overview
New Zealand apparel retailer's full-year sales rose 19.6% yr/yr, driven by Australia and digital
Net profit after tax climbed 49.9% yr/yr; gross margin improved to 61.7%
Company declared higher final dividend as balance sheet remains strong

Outlook
Group says early sales growth will not continue at the same rate through the rest of H1
Company schedules another NSW store opening in October ahead of peak trading 
Result Drivers
AUSTRALIAN DOLLAR TAILWIND – Group sales benefited from a stronger Australian dollar; constant-currency sales rose 15.6% yr/yr versus 19.6% reported growth
FULL-PRICE SALES AND FREIGHT – Gross margin rose 240 bps to 61.7%, reflecting stronger full-price sales and supplier and freight-forwarder rate negotiations
AUSTRALIAN STORE NETWORK – Australian sales rose 29.0% to NZ$324.4 mln, including contributions from new and refurbished stores; the network reached 41 stores
DIGITAL SALES GROWTH – Online sales grew 26.2% yr/yr and represented 19.0% of Group revenue, up from 18.0%

Company press release: ID:nNZS8z5a

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
FY Net Income
 
NZ$59.20 mln
 
FY Gross Margin
 
61.70%
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the apparel & accessories retailers peer group is "buy"
Wall Street's median 12-month price target for Hallenstein Glasson Holdings Ltd is NZ$12.40, about 6.4% below its September 28 closing price of NZ$13.25
The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 11 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)