This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-35260099
The article has changed 5 times. There is an RSS feed of changes available.
Version 3 | Version 4 |
---|---|
Sports Direct shares dive after profit warning | Sports Direct shares dive after profit warning |
(about 2 hours later) | |
(Close): Shares in Sports Direct dived after it said its profits would be lower than expected, leading the FTSE 100 down. | |
The FTSE 100 closed down 0.7% at 5,912.44 after initially being bolstered by strong US jobs figures. | |
The stats showed 292,000 jobs were created last month in the US, beating expectations. | |
However, shares in Sports Direct dived nearly 15% to 436.80p after it warned on profits. | However, shares in Sports Direct dived nearly 15% to 436.80p after it warned on profits. |
The retailer said that since its interim results on 10 December, it had "seen a deterioration of trading conditions on the High Street and a continuation of the unseasonal weather over the key Christmas period". | The retailer said that since its interim results on 10 December, it had "seen a deterioration of trading conditions on the High Street and a continuation of the unseasonal weather over the key Christmas period". |
It added that it also expected similar trading conditions between now and the end of April. | It added that it also expected similar trading conditions between now and the end of April. |
As a result, it says it is "no longer confident" that it will meet its full-year underlying earnings target of £420m, and now expects earnings to be between £380m and £420m. | As a result, it says it is "no longer confident" that it will meet its full-year underlying earnings target of £420m, and now expects earnings to be between £380m and £420m. |
Shares in Tesco were having a better day, rising 5.5% to 146.90p after Barclays upgraded its rating on the stock to "overweight" from "equal weight". | |
On the currency markets, the pound fell by 0.006 of a cent against the euro to €1.3314, but was down a cent against the dollar at $1.4519. |