Retail in Asia

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NZ’s Pumpkin Patch posts first-half loss

New Zealand children’s clothing retailer Pumpkin Patch has posted a first half loss on costs to close its US and UK stores.

The Auckland-based company turned to a loss of NZD30 million (USD24.6m) in the six months ended on 31 January, from a profit of NZD8m a year earlier.

The retailer, which abandoned the US last year, was forced to quit its UK operation in January, appointing administrators to the unit and flagging restructuring costs as high as NZD32m as its 36 stores failed to make an acceptable return.