Apparel firm La Chapelle sinks to record low on weak earnings forecast

Xinjiang La Chapelle Fashion Co

31/01/2019 06:44

** Shares of Shanghai La Chapelle Fashion Co Ltd  6116.HK 
fall as much as 7.9 pct to HK$5.50, an all-time low since
listing in October 2014, after the mass-market ladies' casual
wear retailer warns of a plunge in 2018 profit 
    ** Shanghai-based apparel firm expects its 2018 profit to
plunge 91.98 pct from 498.52 mln yuan ($74.39 mln) profit a year
ago due to a fall in sales and gross profit margin
    ** Co says decline in customer traffic, and a drop in
investment income also hit its earnings  urn:newsml:reuters.com:*:nFWN1ZU0XP
    ** Shanghai La Chapelle has underperformed the Hang Seng
Commerce & Industry Index sector  .HSNC  by 18.1 percentage
points in the past one month
    ** The Hong Kong Hang Seng sub-index tracking consumer goods
companies  .HSCICG  rises 1.7 pct and the benchmark index  .HSI 
climbs 0.98 pct
($1 = 6.7018 Chinese yuan)

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)