AUSTRALIA: Noni B shares slide on profit warning
Australian women's wear retailer Noni B saw its share price plunge on Friday (25 January) after it issued a profit warning.
The price of shares dropped almost 14% to A$0.75 a share after the company said it expects after-tax profit to be in the range of A$1.7m to A$1.9m, against $2.4m in the same period of the prior year. It added sales were in-line with the previous year, despite one less week's trading.
"We plan to maintain staffing levels and investment in training so we can continue to improve the personalised service we offer," a statement said. "We believe retailers who are committed to the development of their people will be best placed for long-term growth, both instore and online."
The retailer's full first half results will be announced on 13 February.
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