Pumpkin Patch cuts annual earnings forecast; shares fall

Fri, 23 May 2014

By Tina Morrison May. 23 (BusinessDesk) - Pumpkin Patch, the second-worst performing stock on New Zealand's All Ordinaries Index the past year, signalled full-year earnings may plummet on sluggish demand and price discounting in its main New Zealand and Australian markets. After-tax earnings before reorganisation costs may be between $1 million and $3 million in the year ending July 31, down from the company's previous guidance that earnings would be unchanged from the $8.5 million a year earlier, the Auckland-based children's clothing re...

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