Pacific Brands cuts FY guidance

Retailer expects full-year profit will be weighed down by weakened consumer sentiment.

Pacific Brands (PBG) has cut its full year guidance to between $90 million and $93m before significant items as the combination of challenging market conditions and declines in consumer sentiment weigh on the retailer.

Investors responded poorly to the news. At 10.25am (AEST), Pacific Brands shares were 9.38% weaker at 50.75c, against a benchmark index lift of 0.48%.

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