Gear4Music PLC, the online musical instruments retailer, slipped 11% to 122p as Royal Mail strikes led to UK revenues stagnating.
In the three months to 31 December 2021, domestic revenues were £26mln, in line with a year earlier.
The retailer, with distribution centres in York, Ireland, Sweden, Germany and Spain, blamed the postal strikes and the knock-on effect this had on other couriers, which led to longer delivery times and an earlier cut-off date for Christmas deliveries.
European revenues, however, jumped 11% to £23.5mln, which the group said: "reflects the successful execution of infrastructure investment."
"We are pleased to report that, despite several external challenges, financial performance during our peak seasonal trading period was in line with the Board's expectations," said chief executive Andrew Wass.
"As we continue to make good progress with new growth-orientated projects, we remain confident in our long-term profitable growth strategy, and that the Group is appropriately resourced and well placed to make the most of opportunities as they arise."