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BUZZ-N Brown: profit warning piles pressure on stock

Thu, 09th Oct 2014 07:13

** N Brown Group shares slump to a near 3-year lowon profit warning.

** Company says H2 off to a weak start with sluggish Septsales, blames warm weather.

** Stock falls for a fourth successive day, ranks in bottomdecile across Europe on StarMine's price momentum scores.

** Analysts' revenue estimates were already getting cut with7 of 12 analysts cutting forecasts for year ending Feb 2015 byan average of 2.8 pct in the past 3 weeks.

** Shares of peers such as Next Plc and Asos higher on the day.

** At least one fund was using current weakness to add topositions in N Brown. (RM: vikram.subhedar.thomsonreuters.com@reuters.net)

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