Baby Bunting announces earnings downgrade

Company News

by Anna Napoli

Baby goods retailer Baby Bunting (ASX:BBN) has announced an earnings downgrade of $18 to $20 million for the 2018 financial year.

This compares with earnings guidance of around $23 million announced at the time of the company’s first half results.

The company says sales and gross margin performance have been adversely affected by the distressed trading of competitors and liquidation of stock.

Baby Bunting says it’s confident in future year’s growth following current sector consolidation.

Shares in Baby Bunting (ASX:BBN ) are trading  3.68 per cent lower  to $1.31 following the announcement.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.