Full year earnings before interest and tax (EBIT) were predicted to be $64 million to $66 million, while parent company Premier Investments said underlying profit before tax was expected to be between $72 million and $74 million.
Premier said following a review of the business, a number of one-off charges would cost between $14 million and $16 million in full year 2011. These include the costs of the shutting the doors of up to 50 loss making outlets when their leases expired.
As part of the earnings improvement plan, Premier planned to "rejuvenate and reinvigorate all five core apparel brands" and an "organisation-wide cost efficiency program".
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