Footasylum forced to issue warning on profits
Rochdale based Footasylum has warned that its revenue and earnings will fall below market predictions as it struggles to cope with tough conditions on the high street.
The trainer and shoe specialist has been forced to announce that EBITDA is expected less than half than the £12.5m previously forecast.
As a result, shares slumped 44%, falling 37p to 47p, on Monday morning.
The firm issued a trading statement which included a grim assessment on current trading in the retail sector.
Footasylum expects to report revenue of Â... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
