Via Domainfax:
Upmarket accessories retailer Oroton Group looks set to join the double-downgrade club following weaker than expected trading in April.
OrotonGroup shares were placed in a trading halt this morning ahead of an expected profit downgrade, the second in five months.
OrotonGroup said preliminary figures for April, an important trading month for the group, indicated that earnings were below those in the previous corresponding period.
The company asked for trading in its shares to be halted until Wednesday or until it issued a trading update.
OrotonGroup is expected to join an inauspicious double-downgrade club, which includes footwear retailer RCG Corp, bedding and homewares retailer Adairs, infant foods company Bellamy’s, Intueri Education, iSentia, Mobile Embrace and OFX Group.
The consumer revival that the government has pinned its economic assumptions upon is going swimmingly:
