Clinton cards fell on spending woes
16:49
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Don Lewin, President Clinton said: "in the short term, while we are confident with our proposal for a product, we remain cautious economic conditions and its effects on consumption in advance of the Christmas important period of negotiation". Shares fell 3?p - 33%.
The company felt the pinch in current trade with type-for-like sales were 2 9pc within ten weeks to 10 October.
But the retailer unveil plans to update the appearance and usability of its stores of Clinton, which may include the new storefronts and uniforms.
The planned revision came as Clinton unveiled a decrease in profits throughout the year to ￡ 11.02 m taxes, which compares the 24 ￡.1 benefit reserved last time, when profits were boosted by a ￡ 13 m. 5 outstanding m gain arising from the acquisition of birthdays.
The retailer has purchased birthdays of birth of Directors in June 2009.M. Lewin said the company "suffered significantly damage caused by the administration process.
Analysts Numis Securities Thursday downgraded Clinton "add" to "buy".the broker said: "in current trade under pressure, lower us our July 2011 forecast of ￡ 14 pre-tax profit"2 ￡ 13 m.2 m, largely flat July 2010.?
