Specialty Fashion Group Limited (ASX:SFH) has revealed it expects its annual earnings to halve in the 2012 financial year.
The women’s clothing retailer expects full year revenue to come in flat at $573 million. Comparable store sales are likely to fall 3.4 per cent over the year.
CEO Gary Perlstein says revenue has been impacted by the difficult retail environment.
The company believes it has however made progress in leveraging its customer database and growing online revenue which is expected to contribute profitability in future years.
Specialty Fashion Group reported a net profit of $6.2 million
