Oro­ton sells ail­ing Brooks

Townsville Bulletin - - NEWS -

ORO­TON Group is of­fload­ing its stake in Brooks Broth­ers’ Aus­tralian oper­a­tions af­ter just two years, fol­low­ing lower than ex­pected sales.

The lux­ury goods maker has agreed to sell its in­ter­est in the joint ven­ture, which in­cludes 13 stores, to par­ent com­pany Brooks Broth­ers Group. The price is not known. Oro­ton’s 2014/ 15 thirdquar­ter earn­ings fell by more than $ 2 mil­lion, partly ow­ing to sales and mar­gins in Brooks Broth­ers and Gap, which it also op­er­ates in Aus­tralia, fall­ing be­low ex­pec­ta­tions.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.