Glassons shines with profit growth, Hallensteins hit by tough market

Womenswear retailer Glassons has revealed a rise in revenue and profit in its latest half-year results, with the trend set to continue as the year carries on, thanks to a strong Australian market. However, the Hallenstein business has felt the impact of a contracting New Zealand economy with pressure on gross margins, causing its profit to drop by over 40%. In the six months to February 1, 2025, Hallenstein Glasson Holdings reported half-year total group revenue of $240 million, up 7.

7% compared to $222.9m in the first half of last year. The group made a net profit of $21.



2m, up by 0.3% compared to $21.1m in the previous corresponding period, in line with the guidance set by the company in late February.

As with other retailers, gross margins declined slightly, dropping to 58.5% compared to 58.8% in the previous year, largely because of the challenging New Zealand retail environment over the peak trade period.

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