Business
Melbourne lockdown a reminder Reject Shop’s prediction of back to normal may be off. Chanticleer writes – The Australian Financial Review
The Reject Shop’s profit downgrade is a warning to investors who believe we are through the fog of the pandemic.
Theres a bit of posturing here, to be sure. But with The Reject Shop now predicting earnings before interest and tax for the full year will come in between $8 million and $10 million well down on consensus forecasts for EBIT of about $12.25 million the group isnt in a position to carry uneconomic stores.
The lesson here isnt confined to retail. As PIMCO chief investment officer Dan Ivascyn said at Morningstars Australian investment conference on Thursday, markets have priced in an extremely optimistic…
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