News: Specialty Fashion H1 sales dip, shares fall

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Shares in Specialty Fashion Group Limited (ASX:SFH) closed lower yesterday after the woman’s clothing retailer said its first half comparable store sales dipped 4.5 per cent from the same time a year before.



In the same period the company, which operates brand names including Millers and Katies, reported a 0.5 per cent dip in revenue to $307 million.



Specialty Fashion says the result reflects difficult trading conditions and has described the Christmas trading period as disappointing.



The company has forecast first half EBITDA could drop by as much as 38 per cent to between $21 and $22 million.



Shares in Specialty Fashion Group lost 7.45 per cent yesterday, closing at $0.435.



In the 2011 financial year Specialty Fashion Group reported a net profit of $14.2 million.