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Magnum Mac starts year with upswing

Magnum Mac starts year with upswing

Renaissance Corporation says its Magnum Mac retail business is on the rebound, posting 17 percent year on year revenue growth for the first three months of 2010.

The retail chain was a contributor to the company's loss result for the full year ended 2009, losing $1.6 million from trading and another $700,000 from stock adjustments and other one-off costs.

In April, chairman Colin Giffney said Magnum Mac had begun to make progress reducing its trading losses, and expected it could grow on the back of the local release of Apple's iPad, set for this month.

CEO Richard Webb says Renaissance is benefitting from several initiatives carried out early this year, including centralising its marketing and HR within the group, investing in upskilling its retail sales force, and improving inter-store communication.

It has also expanded its product range with more accessories for Macs, PCs, iPods and mobile devices.

Retail director Eddie McGrory says the retail offering has been revamped in the last six months, and now includes Apple authorised training at its Auckland and Wellington stores. This will soon be extended to Christchurch, he says.

As recently reported in Reseller News, Renaissance plans to add product lines focused on home networking, home automation and home theatre.


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