Warehouse shares touch 18-month low as stock downgraded to 'hold' at Craigs

Tue, 24 Jun 2014

By Tina Morrison June 24 (BusinessDesk) - Shares in Warehouse Group touched an 18-month low as the stock was downgraded to 'hold' from 'buy' by brokerage Craigs Investment Partners after the retailer cut its full-year earnings forecast, saying it was having to discount winter clothing and homewares because of warmer weather. Craigs analyst Chris Byrne cut his forecast for the retailer's 2014 profit by 12 percent, the 2015 forecast by 6 percent and the 2016 estimate by 5 percent after Warehouse on Friday said its profit would decline from...

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