Shares in surf, skate and street wear designer and manufacturer Globe International plunged more than 50 per cent on Monday after the firm issued a profit warning.

The company said tough trading conditions in Australia and the US have been compounded by lower than expected footwear orders, a consumer shift towards lower priced goods and the recent strike at US ports.

Globe said in a statement: "It is difficult to assess the impact of some of these issues at this time. The company will outline strategies relating to these and other matters at its annual general meeting to be held on October 31."