Fashion retailer Country Road says plans to close a number of Australian stores do not affect those in New Zealand.
It comes as the brand鈥檚 South African owners, Woolworths Holdings, review its retail store portfolio amid challenging economic conditions.
Sales across the Country Road Group, which also includes brands Mimco, Trenery, Witchery and Politix, slumped 6.2% in the first half of the 2024/25 financial year.
Operating profit fell 71.7% to A$14.2 million ($15.5m).
Latest financials for the NZ operation, which trades as Country Road Clothing (NZ) Limited, show the company made a $3.1m profit for the 53 weeks ending June 29, down from $4.9m compared with the previous 52-week period.
Country Road has 14 stores in NZ.
Australian media reported this week that Country Road鈥檚 longstanding flagship store at Sydney CBD鈥檚 Queen Victoria Building was closing.
Another CBD store at Pitt Street Mall is expected to close in 2028 when its lease expires.
Sister brand Trenery was also closing a store in the Sydney suburb of Mosman.
鈥淔rom time to time, we review our retail store portfolio to ensure we鈥檙e continuing to meet the needs of our customers,鈥 a Country Road Group spokesperson said.
The spokesperson said 10 new or refurbished stores were opening in Australia by the end of the year.
Country Road Group operates 653 stores across Australia, New Zealand and South Africa.
Take your Radio, Podcasts and Music with you
Get the iHeart App
Get more of the radio, music and podcasts you love with the FREE iHeartRadio app. Scan the QR code to download now.
Download from the app stores
Stream unlimited music, thousands of radio stations and podcasts all in one app. iHeartRadio is easy to use and all FREE
