May 21, 2017 / 10:59 PM / in 5 months

BRIEF-Surfstitch Group updates on FY17 forecast

May 22 (Reuters) - Surfstitch Group Ltd

* Fy17 forecast update and planned closure of north american operation

* announces planned transfer of management of swell ecommerce platform from us to Australia

* forecasts underlying EBITDA loss for fy 2017 to a range of $10.5m to $11.5m from range of $5m to $6.5m previously advised to market

* “general business environment for apparel and footwear has been very difficult in each of group’s key markets, particularly in uk”

* In the UK, surfdome business has experienced intense margin and sales pressure Source text for Eikon: Further company coverage:

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