By Phil Boeyen, ShareChat Business News Editor
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Monday 17th December 2001 |
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The business listed as a New Capital Markets company last year and has recently added toys to its retail portfolio with the opening of a large Toyworld franchise in Christchurch. Other retail ventures include sports, lingerie, homeware and linen outlets
Retail Services has also secured management contracts of two Stirling Sports stores in the Wellington region and says it wants to build a strong base there and will be looking to setup or acquire stores in the other retail categories that it operates in.
"Also, we have a good relationship with Westfield, New Zealand's largest mall operators, and have been talking to them about other centres," the company says.
"Retail sales have been strong, with all stores showing an improvement in sales."
However the picture isn't quite as rosy at the company's other business, E-prepaid, which it says has had a difficult year.
"We have spent some time working through the issues over the last few months - including time spent with a marketing consultant and have delayed the revamp of the website.
"In the course of this work, we have identified another application for the technology which supports E-prepaid. We are still going through the process of protecting our intellectual property and so cannot provide any further detail at present."
RetailX announced a loss of $28,000 for the six months ended September but says the period included only the last two months of the new post acquisition trading entity.
The company says it is trading profitably and has added added five more store management contracts since completing its key transaction in August.
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