‘Worst trading for 30 years’
Published: November 22, 2011RCG Corporation which operates The Athlete’s Foot chain, plus distributes several footwear brands including Merrell, Chaco, Cushe and CAT footwear and apparel, describes current trading conditions as “the worst I have seen for the 30 years I have been involved in retail.”
Chairman Ivan Hammerschlag told RCG's annual meeting this week that the company expects to deliver earnings growth per share for the full year.
TAF reports sales are down on the corresponding period of last year and two new stores have opened since July 1.
But "given that according to the Australian Bureau of Statistics, the footwear sector is down more 10.6 per cent for the September quarter, we believe that we are still growing market share," Hammerschlag reported.
Read more from: Industry/Business News
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