Godfreys Group has suffered a further sales slump and slid to a $59 million half-year loss as the vacuum cleaner retailer’s new chief executive pledges to turn around the business’s declining fortunes.
Godfreys booked a net loss of $58.6 million for the half, compared with its $21.7 million loss a year ago, following a previously flagged $75.2 million impairment charge and other business restructuring costs.
Underlying profit – which excludes one-off items – for the six months to December 29 fell nearly 62 per cent to $897,000 and recently installed CEO Jason Gowie said new efficiency gains were needed.
“We are confirming the continuation of a negative like-for-like sales trend which has been consistently around minus six to seven per ce…
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