MARKET CLOSE: NZ shares fall, led by Warehouse after profit warning

Fri, 20 Jun 2014

By Tina Morrison June 20 (BusinessDesk) - New Zealand stocks fell, led by Warehouse Group after the country's largest listed retailer cut its full-year profit forecast. The NZX 50 Index slid 47.122 points, or 0.9 percent, to 5145.032. Within the index, 38 shares fell, seven rose and five were unchanged. Turnover was $227 million. Warehouse was the worst performer on the benchmark, dropping 7.8 percent to a 17-month low of $3.06. Warehouse said it expects adjusted full-year profit of $59 million to $62 million, down from its March forec...

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