Country Road Limited (ASX:CTY) has cautioned that it expects the trading environment to remain challenging in 2012 but the retailer says it is well positioned for further growth.
Speaking at the company’s Annual General Meeting chairman Simon Susman told shareholders Country Road plans to improve its pricing architecture, fasionability, quality and availability of ranges.
Country Road is also gearing up to increase its presence in South Africa with a number of stores planned to open in the next year.
The company has advised that sales for the first four months of the current financial year have fallen 4.9 per cent in Australia but risen 9.1 per cent in South Africa.
In the 2011 financial year, Country Road reported a net profit of $18.2 million.
