\u201cThe loss includes $2.4m of debt losses and $300,000 of fixed assets written down,\u201d the latest accounts said.<\/p>\n
The Lodge Bar & Dining, Rodd & Gunn, Commercial Bay. Photo \/ Alex Burton <\/p>\n
However, more revenue was generated in the latest year: $276m, up from $233m in 2024. But the cost of sales also rose from $82m to $180m. <\/p>\n
An item, \u201cHudson Bay asset impairment\u201d, appeared in the 2025 accounts at $2.6m, whereas there was no loss provision for that in 2024.<\/p>\n
Operating profit therefore fell from $7.1m to $3.8m and last year\u2019s $376,000 profit turned into the $3.7m loss.<\/p>\n
Total equity fell from $23m to $19.6m in the accounts signed by directors Michael and Josh Beagley. <\/p>\n
Liabilities rose from $14.6m to $19.8m, with $11.5m borrowed from the ANZ on a flexi facility, $500,000 on a term loan and $650,000 as a business term loan. <\/p>\n
Rodd & Gunn’s The Lodge restaurant in Commercial Bay, downtown Auckland. Photo \/ Babiche Martens<\/p>\n
A further $7.1m is borrowed from CIBC as a working capital loan.<\/p>\n
Subsidiaries are listed in Australia, the United States, United Kingdom, Canada, Italy, France, Netherlands, Singapore, Hong Kong, Denmark and Mexico.<\/p>\n
The last three are listed as newly established entities.<\/p>\n
Rodd & Gunn CEO Mike Beagley told the Herald today: \u201cIt was a very challenging period but fortunately, we pivoted quickly and opened nine of our own stores in Canada. <\/p>\n
\u201cWe believed there would be a market void due to Hudson\u2019s Bay departure from the market and that has borne out to be true.\u201d<\/p>\n
Rodd & Gunn continued to grow strongly.<\/p>\n
Rodd and Gunn CEO Mike Beagley.<\/p>\n
\u201cWe are on track to exceed $300m in sales this financial year for the first time,\u201d he said of the current 12 months.<\/p>\n
Last year, his son Josh Beagley said Rodd & Gunn \u201cis a proud New Zealand business that has built a successful global business of scale\u201d. <\/p>\n
\u201cIn the last four years, we more than doubled the size of our business and all of this has been achieved within our existing resources.\u201d<\/p>\n
Downtown in Auckland, the Commercial Bay store was a world leader, he said.<\/p>\n
\u201cCommercial Bay is one of our most successful sites in our global network.\u201d<\/p>\n
Pompallier on Ponsonby under construction. Photo \/ CMP Construction<\/p>\n
A new store in Ponsonby<\/a>, now under construction, would \u201crepresent an evolution of our experiential retail concept and complement our Auckland central offering\u201d.<\/p>\n Pompallier on Ponsonby is rising in a corner site at 286-304 Ponsonby Rd, with CMP Construction working for Urban Collective and development director Kelly McEwan.<\/p>\n The Herald\u2019s Kim Knight<\/a> reviewed The Lodge at Commercial Bay<\/a> in 2020, asking: \u201cHow does a fashion label worn by environmental scientists and the engineering student offspring of high-country farmers pivot to kale?\u201d<\/p>\n There was, thankfully, a dividing wall between the chinos and the chicken, she noted, finding the venue \u201cabsolutely nails its customer service\u201d.<\/p>\n The $150m project is near the Jervois Rd\/College Hill Rd intersection.<\/p>\n Fearon Hay designed the project, with Paul Brown Architects. Jeff Fearon said most of the heritage building on the Ponsonby Rd\/Cowan St corner would be retained and incorporated into the new construction.<\/p>\n CMP Construction began work on the site last year. <\/p>\n It has three street frontages: Ponsonby Rd opposite Renall St, Pompallier Tce and Cowan St.<\/p>\n Pompallier on Ponsonby is:<\/p>\n Five levels of mixed-use development, retaining a Ponsonby Rd heritage facade;Eleven apartments, with deposits taken on three so far;Three shops which are leased, including to Rodd & Gunn;A two-level basement to be built across the site.Commercial offices.<\/p>\nPlans for The Pompallier on Ponsonby Rd. Photo \/ Supplied<\/p>\n
Food with that T-shirt? The Lodge at Commercial Bay, a Rodd & Gunn store with dining. Photo \/ Babiche Martens<\/p>\n