The owner of The Athletes Foot brand, RCG Corporation Limited (ASX:RCG) has confirmed it’s on track to maintain its half year profit and dividend, despite subdued trading conditions.
The investment holding company’s chief says trading conditions are the worst he’s seen in 30 years.
In the first four months of fiscal 2012 The Athlete’s Foot’s sales dipped 1.2 per cent in total and 3.3 per cent on a like-for-like basis.
Though RCG says trading is below expectations it believes the results are robust considering the business has experienced strong growth in the past.
RCG Corporation posted a net profit of $8.9 million in the 2011 financial year.