A2 Milk shares sink as it slashes forecasts over weak Chinese sales, old stock – Sydney Morning Herald

Struggling milk and infant formula seller A2 Milk has been forced to slash its sales and profits forecasts after a weaker-than-expected performance in the Chinese market and a writedown of up to $90 million in the value of its inventory.
The NZ-headquartered company told investors on Monday despite its efforts in recent months to revitalise its key daigou Chinese reseller markets, the performance in the channel had been well below plan, forcing the company to reevaluate its outlook.
It is clear…

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