HONG KONG May 7 Shares of Giordano
International Ltd fell as much as 16 percent to their
lowest in more than three years after the Hong Kong-based casual
wear chain operator warned of a sharp drop in first-half profit
The stock dropped to HK$4.34, its lowest since March 2011.
The shares steadied at HK$4.44 at 0309 GMT, still down 14
percent. That compares to a 0.96 percent fall in the benchmark
Hang Seng Index.
Giordano said late on Monday it expects to record a
significantly lower profit attributable to shareholders for the
six months ended in June 2014 as consumer demand in greater
China continues to weaken and the recent decline of the Chinese
yuan is impacting profitability.
(Reporting by Donny Kwok; Editing by Matt Driskill)