Why did Hallenstein Glasson Holdings Limited’s [NZX:HLG] Share Price Rise 3.08% Today?

Hallenstein Glasson Limited’s stock value has increased by 3.08% today.

The company consists of the Hallensteins and Glassons clothing retail chains, catering to the medium-priced quality end of the market.

Hallenstein Glasson has a market capitalisation of $359,683,838. At the time of writing, the share price is at $6.03.

 

Why has [NZX:HLG] share price increased today?

On 28 September, Hallenstein Glasson released their full year result for the period ending 1 August 2018.

Results were positive, with $277.64 million in sales for the 12-month period, up 16.2% compared with the previous period ($239 million).

Audited net profit after tax was $27.36 million, up 58.4% compared with the previous period ($17.27 million).

Over the last 12 months, the group has been focused on fashion, speed to market, and customer service. Investment in digital has also been key, with improvements to customer engagement via the website, social media, and in-store.

 

So where could the Hallenstein Glasson share price go from here?

Over the first eight weeks of the new financial year, sales growth has increased 7.2% on the previous year.

The group continues to invest into its digital presence, along with new and refurbished stores.

The upcoming Christmas period also presents an opportunity to further increase sales.

Overall, the outlook for Hallenstein Glasson seems positive.

Regards,

Taylor Kee,
Editor, Money Morning New Zealand

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Taylor Kee is the lead Editor at Money Morning NZ. With a background in the financial publishing industry, Taylor knows how simple, yet difficult investing can be. He has worked with a range of assets classes, and with some of the world’s most thought-provoking financial writers, including Bill Bonner, Dan Denning, Doug Casey, and more. But he’s found his niche in macroeconomics and the excitement of technology investments. And Taylor is looking forward to the opportunity to share his thoughts on where New Zealand’s economy is going next and the opportunities it presents. Taylor shares these ideas with Money Morning NZ readers each day.


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