7 Aug 2013

Poor sales again reported by Postie Plus

10:03 am on 7 August 2013

Postie Plus has again reported poor sales and says its looking at raising capital to improve its working capital position and to reduce debt.

The clothing retailer, which has just appointed Richard Binns, who has worked for Overland, No 1 Shoes and The Warehouse, as chief executive says its July sales were below expectations.

As in previous reports, Postie Plus blamed ifficult trading conditions, compounded by its previously reported distribution problems.

In June, Postie Plus said its third quarter sales fell 14% nd sales for the nine months to the end of June were down more than 5%.