UPDATE 2-JD Group says profit to fall 80-90 pct, shares dip

* 409 million rand tax and restructuring costs hit margins

* Debtor costs forecast to rise 20-25 percent

* Shares fall 3.7 percent

(Adds detail, analyst comment, share price)

By Phakamisa Ndzamela

JOHANNESBURG, Nov 4 (Reuters) - South African retailer JD Group (JDGJ.J: Quote, Profile, Research) said full-year headline earnings per share may fall 80-90 percent due to a 409 million rand ($53 million) cost for tax and restructuring.

Shares in the furniture retailer fell after the news, and were down 3.7 percent to 40.66 rand by 1305 GMT on Wednesday, versus a marginally weaker JSE Mid-cap index .

RMB Morgan Stanley analyst Danie Pretorius said a profit warning had been expected before the group issued its results on Nov.16 because of a tax settlement and restructuring costs.

JD Group, whose store chain includes Morkels, Bradlows and Hi-Fi Corporation, said earnings and headline earnings per share to end-August were expected to be 0-5 percent lower if the tax and restructuring expenses were disregarded.