Global Fashion Group cuts outlook, shares drop
10/12/2021 08:02
Dec 10 - ** Global Fashion Group SA GFG.DE shares drop
7.4% in early Frankfurt trade after the online fashion retailer
lowered its 2021 guidance
** The company now expects 2021 constant currency growth of
around 23%, compared to 25% before and adjusted EBITDA of around
10 million euros ($11 million) vs more than 16 million euros
previously expected urn:newsml:reuters.com:*:nASN001ZG3
** The company says its demand weakened in November and into
December
** "Shares fell to around 5.60 euros after-hours. News
should weigh on peers, too," a local trader says
($1 = 0.8857 euros)
(Reporting by Ana Cantero in Gdansk)
((ana.canteroros@thomsonreuters.com))