Overview
- The retailer now expects full-year adjusted pre-tax profit of £55 million to £60 million, reduced from roughly £70 million previously guided.
- Management cited pressure on UK consumers that has dented confidence and reduced store visits during its busiest weeks.
- The forecast assumes current trading conditions persist over the final seven weeks of the financial year.
- Shares fell more than 25% in early trading following the update, according to market reports.
- Operations in the Republic of Ireland and North America are tracking to plan, the Funky Pigeon integration remains on schedule, and the board will continue share buybacks while anticipating a progressive dividend.