Australia's Baby Bunting tumbles on dour outlook as rate hikes hit consumers
BUZZ-Australia's Baby Bunting tumbles on dour outlook as rate hikes hit consumers Updates
** Baby Bunting's shares BBN.AX fall as much as 13.1% to A$1.43, their biggest intraday pct loss since May 9, 2024
** Baby goods retailer trims 2H pro forma NPAT to A$11 million - A$12 million ($7.6 million - ($8.3 million), below prior A$12.5 - A$14.5 million range
** BBN now expects comparable store sales growth to be ~3% in 2H26 vs earlier 6%-8%
** Co says three RBA rate hikes this year weighed on consumer spending and raised distribution costs
** Citi says downgrade could unnerve investors, citing weakening exit sales into FY27 and softening in a typically resilient category
** Brokerage flags near-term headwinds, citing tough early FY27 like for like growth and a steady unwind in HMC's HMC.AX stake in co as potential overhangs
** YTD, BBN down 44%
($1 = 1.4478 Australian dollars)
(Reporting by Nichiket Sunil and Kumar Tanishk in Bengaluru)
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