Hallenstein Glasson continues to defy the retail gloom on the high street, posting another strong set of results for the full year ended August.

Net profit after tax rose by 49.9 percent from the year before to $59.2 million, and total group sales climbed nearly 20 percent to $563.0 million.

Key numbers for the year ended 1 August 2026 compared with a year ago:

  • Net profit $59.2m vs $39.5m
  • Revenue $563.0m vs $470.7m
  • Operating profit $87.4m vs $61.0m
  • Gross margin 61.7% vs 59.3%
  • Final dividend 40 cents per share

The company's Australian operations continued to be the engine room of growth.

Glassons Australia's sales rose by 29 percent to $324.4 million.

The group operates 41 stores across the Tasman and says it continues to evaluate new store opportunities, and its new Sydney warehouse has commenced operations.

Sales of the Glassons brand in New Zealand rose by 11.5 percent to $124.8 million from the year before, as the company refurbished and expanded town-centre stores in Hamilton and Porirua.

The Hallensteins side of the business - including Australia - had slower sales growth of 6.1 percent, taking revenue to $113.8 million, but its pre-tax profit more than doubled to $10.9 million.

The result was also backed by tight stock control and strong cash generation.

Inventory slipped to $30.4 million despite the rise in sales, while operating cash flow increased 38 percent to $122.2 million.

The group ended the year with $88.2 million in cash and short-term deposits, and no interest-bearing bank debt.

The company declared a final dividend of 40 cents per share, partially imputed, bringing full-year dividends to 69.0 cents per share.

Update on trading

The company said sales in the first eight weeks of the new financial year were 18.4 percent ahead of the same period last year, as new and refurbished stores came online.

Notably, it does not expect that rate of growth to continue even with the Black Friday and Christmas trading periods approaching.

It also noted the uncertain geopolitical and economic backdrop, as well as potential changes in consumer spending and foreign currency movements.

It said it would provide another trading update at its annual shareholder meeting in December.