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1.Market Observations, 5.Troubled companies

27 Jun 2014 (AFR) – Struggling retailers come clean during confession season – Downgrades reveal retailers’ misery

(27 June 2014, AFR, p26, Bianca Hartge-Hazelman)

‘Nearly $480 million has been wiped off the value of Australian retailers since the May budget was delivered, as the confession season produces a number of high-profile corporate downgrades and raises fears of more to come.’

‘More than half a dozen retailers including Kathmandu Holdings, Pacific Brands, Super Retail Group, The Reject Shop, toy wholesaler Funtastic, footwear chain RCG Group and Noni B have downgraded earnings forecasts in the past month.’

Read more at AFR.com (might need AFR login access)

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