31 Aug 2012

Postie sales decline

1:33 pm on 31 August 2012

Sales at clothing retailer Postie have fallen due to the sale of its BabyCity stores in May.

The listed company says the value of sales was $111 million in the year to the end of July, a drop of 4% compared with the previous year.

The company is overhauling its business and wants to double its size through acquisitions, new stores and a wider range of products.

It is moving its headquarters from Christchurch to Auckland, while its chief executive of seven years, Ron Boskell, will step down early next year.