Improved sales at Hellaby likely to fuel speculation
16/05/2007
New Zealand-based Hellaby Holdings has reported strong sales growth at its subsidiaries, No 1 Shoes and Hannahs, in the important three-month lead up to winter, which is likely to strengthen the possibility of a takeover bid.
Total store sales (including new store openings) rose 14.7% during the quarter, ended April 30, whilst same store sales for the quarter rose 5%.
The quarter to the end of April is an important period for the company as it incorporates the end of summer, back to school and the beginning of winter sales.
Hellaby initiated a strategic review of its footwear retailers at the beginning of May following several unsolicited acquisition approaches. The two businesses together hold approximately 40% of the specialty footwear retail market inShare this story:
