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.
- PSF 2014: Shifting focus from cost to consumer
- PSF 2014: No one size fits all in apparel sourcing
- Garment manufacturers eye Myanmar outsourcing
- Bangladesh industry development moving backwards
- Mexico's shoe makers blame their woes on China
- Adidas China supplier in discussions over strike
- Bangladesh PM asks clothing buyers to pay more
- Gap issues mirror widespread industry challenges
- Jones CEO to depart as Sycamore splits business
- Workers strike at Adidas supplier shoe factory
- Ethiopia – the emerging textile and clothing industry
- Antimicrobial fibres, fabrics and apparel: innovative weapons against infection
- Trade and trade policy: clothing imports, consumer expenditure and trends in five emerging markets: Brazil, Colombia, India, Kazakhstan and Peru, 4th quarter 2013
- Jeans in Italy
- Sustainable Textiles for Apparel: Fact, Fiction and Future Prospects