Godfrey’s warning

VACUUM cleaner chain Godfrey’s says it expects full-year earnings to be at the lower end of expectations.

Delivering its second profit warning in as many years, Godfreys yesterday said the trading environment was – as expected – “challenging”.

Like-for-like sales, which strips out the impact of shops that have opened or closed, had dipped this half and the retailer is now expecting earnings before interest, tax, depreciation and amortisation to be at the lower end of its earlier forecast – $14 million to $15 million for the year to June.