Country Road Limited
(ASX:CTY) has shown promising signs that consumer sentiment may be picking up.
Addressing its annual meeting yesterday, the fashion retailer’s Chairman said comparable sales across Australasia for the first four months of fiscal 2013, lifted by 13.5 per cent.
Country Road acquired the Witchery and Mimco brands for $172 million in August.
The group is now focusing on their integration during fiscal 2013.
Due to the acquisition of Witchery Group, Country Road will not pay a final dividend this financial year.
In the 2012 financial year, Country Road’s net profit dipped 11 per cent to $16.1 million.
