Instead, it booked an after-tax loss of $27.5 million for its full year's trading to July.
Operating revenue was up more than 3% to $300.6 million, debt reduced by 10% to $54.6 million and crucial inventory held was down 27% to $61.4 million, but reorganisation costs of $37.6 million detracted what would have otherwise been a $10.1 million after-tax profit for the year.
Shares in Pumpkin Patch were down more than 2.5% at $1.15 after the announcement.
New Zealand has 35 Pumpkin Patch stores and four Charlie and Me, while in Australia there are 105 and nine, respectively. The brands are being offered into the Middle East, Mexico and Europe this financial year.
The reorganisation included the closure of 40 United Kingdom and 20 United States operations, closure of unspecified stores not meeting financial targets, and a reduction of more than $5 million in head office costs.
Craigs Investment Partners broker, Peter McIntyre, said now that the "unfortunate ex-pansion" into the UK and US was finished, the Pumpkin Patch balance sheet had improved, in terms of debt, inventories and online sales growth.
He said its share price was down yesterday, because of the forecast "challenging" outlook, need to rein in rental costs and because the company gave "zero visibility" on any financial guidance yesterday.
Pumpkin Patch chief executive, Neil Cowie, made only passing mention of the reorganisation process "which is now mostly complete", in a statement to the market yesterday.
He highlighted the performance of the online business unit, whose sales have exceeded $30 million. The global online earnings exceeded the earnings before interest and tax which was generated by all the company's New Zealand retail stores combined, but 2013 online growth was expected to be lower than the past year.
The company noted the merger of retail, online and wholesale partner models, across local and international markets, had only just begun.
Profit margins were eroded in both New Zealand and Australia by higher-than-normal levels of promotional activity and higher product costs.
New Zealand trading conditions "remained soft" but total New Zealand sales increased 3%, to $59.2 million, driven mainly by higher online salesTotal Australian sales were up 4.4% to $207.6 million, also driven by strong online growth and higher retail sales.
