Sports Direct (LON:SPD) shares tumbled around 10% on Friday after the sportswear retailer warned investors it was no longer confident of meeting its earnings target for 2015.
The target was for £420mln (adj underlying EBITDA), but, this has now been downgraded to between £380mln and £420mln.
It blamed “a deterioration of trading conditions on the high street and a continuation of the unseasonal weather over the key Christmas period.”
Shares fell 58.5p, 11%, to trade at around 455p each.