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Earnings for the December half were indubitably to be down as much as 35 per cent, the group said.

Specialty Fashion has weighed in to the action between retailers and landlords, threatening to close 120 stores unless rents are cut.

Chief chief executive officer Gary Perlstein defended the half-year results and insisted the partnership would work to "achieve a more sustainable cost structure". "Dedicated that this is the toughest retail environment we have seen, Specialty Fashion Gather has performed well," he said.

"In spite of recent reductions in the moolah rate, industry wide discounting has continued but our investments over the whilom three years meant we protected gross margins."

He said Specialty The rage had invested heavily in its internet growth strategy and was on track to inflate online sales from 2 per cent to 15 per cent of total sales within three years.

Non-Standard irregardless the broader retail landscape, CommSec Economist Savanth Sebastian said the consumer boldness result was "disappointing".

Source: Courier Mail

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