UK: Peacock Shares Swoop By Six Per Cent
The company is due to make a statement tomorrow. If it shows, that the retailer has had to cut prices heavily to maintain market share, analysts are likely to trim their pre-tax profit forecasts of £16.5m.
This time last year Peacock reported a like-for-like sales increase of nine per cent in Christmas trading. Despite a quiet start to December 1999, stores were very busy just before Christmas itself. In May the group announced pre-tax profits of £9m on turnover of £197m.
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