Soho House slumps to 1-month low after narrowing rev forecast
10/11/2023 15:46
** Shares of membership platform Soho House SHCO.K plunge
as much as 19% to one-month low of $6.6 in early trade after co
misses analyst estimates
** Stock set for steepest one-day percentage drop since
January if losses hold
** Co narrows rev forecast range for FY23 to $1.13 bln-$1.16
bln from $1.12-$1.19 bln
** Co reports Q3 revenue of $301 mln, missing est of $306.26
mln, per LSEG data
** SOHO missed rev est for four out of 10 quarters
** "Q3 rev were hurt by the wet summer weather. The
temporary closing of Tel Aviv house also impacts our prior
expectations" - CFO Thomas Allen
** Stock up 87% YTD
(Reporting by Pranav Kashyap in Bengaluru)