Pumpkin Patch takes $12 mln charge after latest round of write downs

Thu, 28 Aug 2014

By Paul McBeth Aug. 29 (BusinessDesk) - Pumpkin Patch, which slashed its earnings forecast earlier this year, will take a $12 million charge to write down the value of stores and IT software, while posting underlying profit in line with guidance. The children's clothing chain said a provision for the write down of IT software and store assets will be reflected in its 2014 results, taking total reorganisation costs to $12 million. Post-tax earnings before reorganisation costs were between $1 million and $2 million in the 12 months ended Ju...

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