Luxury jeweller Theo Fennell has reported a 'disappointing' Christmas trading period which it said was due to a challenging UK consumer market, an uncertain economic environment and a lack of footfall to the stores.
As such, results for the year ended March 31st 2013 will be "materially below management expectations".
However, the company was keen to stress that its cost savings will help mitigate losses for the full year.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The share price fell 6.52% to 10.75p by 12:25.
NR
-
Christmas at Chatsworth: review of The Cavendish Hotel at BaslowMoneyWeek Travel Matthew Partridge gets into the festive spirit at The Cavendish Hotel at Baslow and the Christmas market at Chatsworth
-
Tycoon Truong My Lan on death row over world’s biggest bank fraudProperty tycoon Truong My Lan has been found guilty of a corruption scandal that dwarfs Malaysia’s 1MDB fraud and Sam Bankman-Fried’s crypto scam
