Smiths City’s first half profit halved to a net $820,000, after it warned shareholders last month that lower sales and poor results for its property company would hurt profit. The Christchurch-based retailer said operating revenue fell 14 percent to $114 million for the six months ended October 31, in part due to the sale of a business a year earlier. Same store retail sales declined 7.7 percent.
Meanwhile you can hardly see some buildings now as there are so many for lease signs as every real estate agent in town tries to get a deal.
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