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... For the full story register now for free or login below...