Source - Alliance News

The following stocks are the leading risers and fallers among London Main Market small-caps on Thursday.

----------

SMALL-CAP - LOSERS

----------

Asos PLC, down 27% at 848.00 pence, 12-month range 835.5p-5,242.74p. Lowers annual guidance after third quarter hit by inflationary pressures and a high clothing return rate, though the online retailer successfully ended its search for a new chief executive. In three months to May 31, revenue declined 0.5% to £983.4 million from £987.9 million a year earlier. Asos says full-year sales are now expected to grow in a range of 4% to 7%, ‘reflecting market volatility and an increased returns rate’. It expects to take a gross margin hit of between 150 basis points and 200 basis points amid elevated returns. Adjusted pretax profit was given in a new range of £20 million to £60 million. In January, and before the outbreak of war in Ukraine, Asos had guided to revenue growth around 10% to 15% and adjusted pretax profit of £110 million to £140 million.

----------

THG PLC, down 20% at 83.76p, 12-month range 70.5p-687p. Shares fall after suitors end their pursuit of the online beauty products seller. Belerion Capital Group Ltd confirms that it, together with King Street Capital Management LP, does not intend to make a takeover offer for the firm. The Belerion consortium made a proposal of 170 pence per share for THG. It had until the close of play on Thursday to decline whether or not to make a firm offer. Candy Ventures Sarl, owned by Nick Candy also confirms it does not plan on making an offer.

----------

Halfords Group PLC, down 19% at 159.50p, 12-month range 150.4p-441.8p. The motor and cycling products retailer offers up less than appetising outlook. In the year ended March 31, Underlying pretax profit drops to £89.8 million from £99.5 million, but was up from £56.9 million two years ago. Looking to financial 2023, Halfords is guiding for underlying pretax profit between £65 million and £75 million - which would be as much as a 28% drop from the recently ended financial year.

----------

Superdry PLC, down 6.2% at 146.6p, 12-month range 132.6p-468p. The clothing retailer falls following downbeat updates from online-only sector peers Asos and boohoo. Ted Baker falls 5.6%.

----------

Copyright 2022 Alliance News Limited. All Rights Reserved.

Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account. AJBell logo

Related Charts

Asos PLC (ASC)

+8.30p (+2.21%)
delayed 18:22PM

Halfords Group PLC (HFD)

-0.40p (-0.25%)
delayed 18:11PM

Superdry PLC (SDRY)

-1.55p (-5.11%)
delayed 17:58PM

THG PLC (THG)

+1.00p (+1.47%)
delayed 18:10PM