Oroton sales up ahead of Christmas
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SYDNEY, Nov 28 AAP
November 28 2012, 11:20AM
Fashion retailer OrotonGroup says its sales are up so far this financial year and it is cautiously optimistic about the upcoming Christmas period.
Chief executive Sally Macdonald on Wednesday said sales in the 17 weeks since the end of July were up seven per cent from the same period in the previous year, on a like-for-like basis.
The company was somewhat confident ahead of the crucial Christmas season, as it could control its prices and promotional schedule, she told OrotonGroup's annual general meeting.
"Coupled with our focus on data and customer analysis, we are cautiously optimistic about the upcoming Christmas and Chinese New Year trading period," Ms Macdonald said.
"We sell across many channels and store types, and will be staying close to the data on a daily basis to maximise results in the volatile retail environment."
OrotonGroup has stores in Australia, New Zealand, Singapore and Malaysia, and, Ms Macdonald said, it was pursuing potential distribution partners in the Middle East, Indonesia and Thailand.
OrotonGroup's long-running licence deal to sell Ralph Lauren goods in Australia expires in 2013, and the company expects to gain about $27 million from selling stock and assets back to Ralph Lauren.
The company is looking to use those funds to buy an Australian brand, but no deals had been struck as yet, Ms Macdonald said.