National furniture and appliance retailer Smiths City today reports tough trading conditions coupled with the impairment of leases on several persistently underperforming stores will result in the company posting a loss for the year to 30 April 2018. Smiths City now expects revenue for the year to range between $209.0 million and $213.0 million compared to the $227.4 million posted
National furniture and appliance retailer Smiths City today names Independent Director Alastair Kerr as its new Chair. He will replace Craig Boyce, who will step aside from the role and retire from the board at the end of May. It also announces the resignation of Independent Director Gary Rohloff who is resigning at the end of April to spend more
National furniture and appliance retailer Smiths City today announces it has put in place a share buyback facility as part of its ongoing commitment to ensure shareholders benefit from the group’s underlying performance improvements. The new facility gives Smiths City the option to buy back up to 5% of its shares over the coming 12 months, but actual acquisitions are
Smiths City now a national retailer with the launch of Auckland stores Former Furniture City stores in Wairau Park, Mount Wellington and Whangarei now trading well under the new Smiths City ‘live better’ brand livery. New directors appointed bringing a depth of retail and online experience to the board Key points: Half-year revenue falls 4.6% to $108.7 million and
Stores on the North Shore and in Mount Wellington to officially open with a commitment to help Smiths City’s customers and the communities in which the company operates ‘live better’. Smiths City tomorrow (Friday 8 December 2017) officially opens two new stores in Auckland, underscoring its confidence that a trusted national furniture and appliance retailer offering a great customer experience
‘Live better’ store revitalisation programme delivering results, but adverse trading conditions and consumer uncertainty continue in the second quarter. National appliance and furniture retailer Smiths City Group today announces it has deferred its planned $5.7 million distribution of capital following a continuation of tough trading conditions. In the face of the trading conditions, sharp competition, particularly in the home electronics,
Smiths City Group Limited (Company) announced on 2 June 2017 that the Company planned to proceed with a Court approved process for a return of capital in accordance with Part 15 of the Companies Act 1993 (Return of Capital). On 3 August 2017 the Company announced their annual meeting of shareholders and released a summary of the business to be
The Annual Meeting of Shareholders of Smiths City Group Limited will be held in the Commodore Airport Hotel, 449 Memorial Avenue, Burnside Christchurch (Head of the Avon Function Lounge) at 10.30am on Monday 21 August 2017. THE BUSINESS OF THE MEETING ORDINARY BUSINESS 1. Annual Report – To receive the Annual Report for the year ended 30 April 2017. 2.
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Smiths City transformation underpins earnings increase Ongoing operational improvements and a refresh of the brand & store formats are supporting the business in the face of a challenging trading environment. Highlights Revenue increases 2.5% to $227.4 million from $221.9 million, assisted by rising same-store sales and the first full-year contribution from Furniture City. Trading Profit rose 53.8% to $2.0 million