2014-01-24 14: 42: 20
Editor in charge: Catherine
(Report from this newspaper) Australian discount retailer The Reject Shop recently revealed that its half-year profit was lower than expected, and it expects its full-year profit to fall. The stock price plummeted by more than 24% on Friday.
The Reject Shop said on Friday that in the six months ending December 2013, the company's profits were under pressure due to substantial discounts and the weakening Australian dollar. The company had previously predicted that comparable store sales would remain flat during the bad Christmas sales season, especially in some large shopping malls, which will continue to slow down the company's overall performance.
The Melbourne-based company expects sales for the first half of the fiscal year to be 3.855 million yuan, 17.7% higher than the previous comparison period. However, gross profit will be lower than expected and the value of the same period of the previous fiscal year, which is mainly due to discounts greater than planned and lower-than-expected performance of some products with higher profit margins.
The Reject Shop's earnings before interest, taxes, depreciation and marketing (EBITDA) are expected to be 5.2%-6.6% higher than the previous comparative period, ranging from 3650 million yuan to 3700 million yuan. The company's general manager Chris Bryce still said that the company's overall performance is still better than expected.
The company expects that the annual net profit after tax will be reduced to between 1700-1800 million yuan, lower than the 2013 million yuan in 1950. "The depreciating Australian dollar will require us to continue planning for the second half of the year and next year. We have already dealt with the products whose profit margins have fallen in the first half of the year."
The Reject Shop计划在下半年开张12家新门店，该公司将在2月19日公布其半财年盈利报告。雪梨东部时间周五13：50，其股价暴跌4.09元，报12.81元，跌幅高达24.2%。
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