| Company Name | Hallestein Glasson |
| Industry | Retail |
| Balance Date | 1st August |
| Country | New Zealand |
| Currency | NZ $ |
My company is a popular New Zealand clothing company that is becoming known in Australia. I had never heard of the company before now (although I do come from a little country town!) I researched through their website, the Annual Reports were easy to find and quite interesting to look at. I also found their code of conduct so I read through that to and the thing that stood out to me the most was section 1.10.
1.10 Raw Materials
All raw materials must be ethically sourced and we expect that our standards as outlined in this code of conduct flow onto all parts of the supply chain.
Suppliers must not, under any circumstances, knowingly use cotton that is sourced from Uzbekistan or from any origins where child labour is known.
This is a good sign to me that I often think about when I research companies and their economy contributions. Although I’m not that interested in fashion if I’m brutally honest!
I also learned that this company is made up of multiple entities including;
- Hallenstein Bros Limited (NZ) – Men’s clothing retailer
- Glassons Limited (NZ) – Women’s clothing retailer
- Glassons Australia Limited (AU) – Women’s clothing retailer
- Storm Retail 161 Limited (NZ) and Retail 161 Australia Ltd (AU) – Women’s clothing retailer
- Hallenstein Properties Limited (NZ) – Property sales
While browsing the consolidated Annual Reports I noticed that throughout the four years the 2016 year had the highest overall Sales (0.9% above the prior year alone), the Lowest Net Profit after Tax (decreased by 21.3% from previous year) and the lowest cash flows from operating activities.
I looked into these and found that according to the Chairman’s reports and other sources the company figures were impacted by a range of different circumstances including competition, management issues, closure and opening of various stores, unexpected weather changes, exchange rate decreases, just to name a few.
I am assuming these factors may be similar for companies that others have as well? Does anyone else have a retail company and wish to compare some information to find similarities and differences?
I hope everyone is making good progress on the assessment – Don’t forget the draft is due by this Friday 5pm!
A-ccounting the days to go! 