Pacific Brands to sell King Gee, Hard Yakka workwear to Wesfarmers as profit tumbles

 In Australia, NewZealand
Pacific Brands is poised to sell off famous brands like Hard Yakka and King Gee after forecasting another difficult year in 2015.
The clothing and textiles distributor has flagged another "material" fall in earnings in 2015 and said the outcome of a strategic review currently underway could have a material impact on its outlook.
The owner of Bonds, Sheridan, Berlei and Hard Yakka withheld its final dividend after rising costs and weak wholesale sales continued to squeeze margins, leading to a 28.2 per cent fall in underlying net profit to $53.0 million in 2014.  Sydney Morning Herald – Read more…

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