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Oroton cuts earnings forecast

2015-05-22 06:22:21| Apparel - Topix.net

Mid-tier luxury handbag and accessories maker Oroton Group has downgraded earnings expectations for the second time this year, as the group's strategy to get consumers to pay full price for its products cost more than anticipated, and slower sales at its Gap and Brooks Brothers ventures hurt profitability. After trading through the third quarter, including the key trading month of April which resulted in an unexpected reduced group earnings before interest and tax compared to prior comparable period of just over $2 million, Oroton now no longer expects earnings before interest and tax growth in the second half of fiscal 2015.

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