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4 months ago
BRIEF-Reject Shop says expects to report net operating loss in 2HY of at least $5 million
April 6, 2017 / 10:52 PM / 4 months ago

BRIEF-Reject Shop says expects to report net operating loss in 2HY of at least $5 million

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April 7 (Reuters) - Reject Shop Ltd

* Company expects to report a net operating loss in second half of year of at least $5 million

* Challenging retail trading conditions continued, with all states experiencing negative comparable store growth in q3

* Given fall in projected earnings per share, and working capital requirements, company is unlikely to declare a final dividend.

* Company is unlikely to declare a final dividend

* Despite below expectation sales performance, company has been actively managing its inventory position through half.

* Underlying customer numbers continue to be below same time as last year, resulting in negative underlying comparable sales of about 4% for half year to date

* Sees full year net profit about $12.5 million

* Promotional activity has not generated incremental foot traffic required to grow comparable sales Source text for Eikon: Further company coverage:

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