Di Humphries to leave after brief return to Hallenstein

Article – BusinessDesk

Glassons head Di Humphries to leave after brief return to Hallenstein

By Paul McBeth

Sept. 8 (BusinessDesk) – Di Humphries will leave Hallenstein Glasson Holdings at the end of the month after almost a year-and-a-half back at the clothing chain, having returned the Glassons women’s wear brand back to profitability.

Humphries rejoined the Auckland-based retailer in April last year after a stint as chief executive of Pumpkin Patch before the children’s clothing chain’s inability to cope with shrinking sales and too much debt ultimately sank the company. Humphries had run Glassons before the shift to Pumpkin Patch and her return has previously been touted as helping turn the business around.

“Di rejoined the company in April 2016 with a specific mandate to lead a key transformational change, build an effective management team and restore profitability,” Hallenstein Glasson chief executive Mark Goddard said in a statement. “Having substantially achieved those objectives, Di has now resigned to pursue other interests and projects.”

Hallenstein Glasson boosted sales 7 percent and profit by 25 percent in the year ended Aug. 1, bouncing back from 2016 when the struggling women’s wear division and a margin squeeze from increasingly expensive imports sapped earnings.

The shares fell 2.5 percent to $3.14, having gained 5.6 percent so far this year.

(BusinessDesk)

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