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BRIEF-Surfstitch Group updates on FY17 forecast

Published 22/05/2017, 08:59 am
© Reuters.  BRIEF-Surfstitch Group updates on FY17 forecast
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May 22 (Reuters) - Surfstitch Group Ltd SRF.AX

* Fy17 forecast update and planned closure of north american operation

* announces planned transfer of management of swell ecommerce platform from us to Australia

* forecasts underlying EBITDA loss for fy 2017 to a range of $10.5m to $11.5m from range of $5m to $6.5m previously advised to market

* "general business environment for apparel and footwear has been very difficult in each of group's key markets, particularly in uk"

* In the UK, surfdome business has experienced intense margin and sales pressure Source text for Eikon: ID:nASXCsYjb Further company coverage: SRF.AX

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