Smiths City predicts $10m profit drop, looks to close stores
Shares fell 7.41% to 50c after today's announcement.
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Smiths City Group says tough trading conditions coupled with the impairment of leases on several “persistently underperforming” stores will probably result in a $10 million net profit drop for the year to April 30, 2018.
The furniture and appliance retailer expects its net loss before tax to be
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Dane Ambler
Tue, 17 Apr 2018
Tue, 17 Apr 2018
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Smiths City predicts $10m profit drop, looks to close stores
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