Mulberry: stock plunges on profit warning
(CercleFinance.com) - The Mulberry stock has plunged almost 27% in London, hammered after issuing a profit warning due to the receivership of House of Frasier and the selective acquisition of assets by Sports Direct International.
The leather goods company, which operates 21 dealerships in House of Fraser stores, is expecting a record three million pounds in extraordinary costs in its interim accounts ending on 30 September.
If the sales momentum in the UK continues over the key period of the second half, the group's FY earnings will be significantly reduced, the company warned.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The leather goods company, which operates 21 dealerships in House of Fraser stores, is expecting a record three million pounds in extraordinary costs in its interim accounts ending on 30 September.
If the sales momentum in the UK continues over the key period of the second half, the group's FY earnings will be significantly reduced, the company warned.
Copyright (c) 2018 CercleFinance.com. All rights reserved.