Australia's Best & Less Group falls on lowering H2 profit forecast

Best & Less group

17/05/2023 04:23

** Shares of Best & Less Group Holdings Ltd  BST.AX  fall as
much as 5.4% to A$1.840 - their lowest since Feb 22 
    ** Apparel retailer says it now expects pro forma net profit
after tax of A$10 mln ($6.78 mln) to A$12 mln for H2 FY23 vs
previous forecast of A$18 mln to A$20 mln
    ** Says like-for-like sales were down 1.4% for the 19 weeks
of trading to date in H2 FY23
    ** BST set for worst day since April 13, if trend holds
    ** Stock up 2.9% YTD, as of last close
 


($1 = 1.4743 Australian dollars)

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))