Profit warning wipes £100m off retailer’s value
Investors in Redditch-headquartered retailer Halfords have reacted badly to a profit warning, with the retailer's share price falling 22% during trading on Thursday.
The drop wiped more than £100m off the company's value and drove the share price down to a six-year low.
The FTSE-250 company revealed this morning that it expected underlying profits to be up to 20% lower in the year to March.
Poor trading in the run-up to Christmas, attributed to mild weather and weak consumer confidence, forced the company to significantly re... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...