December 5, 2018 / 3:08 PM / 7 months ago

BUZZ-Roots Corp: Plummets on weak Q3, profit forecast cut

** Canadian retailer’s shares plunge 25 pct to C$3.40

** Q3 total sales fall 3 pct to C$87 mln ($65.49 mln) from a year earlier; cites negative traffic trends due to weaker brand voice, unseasonably warm fall weather

** Q3 adj EPS more than halves to 11 Canadian cents from 23 Canadian cents

** Says to operate with a “more conservative pace of expansion until it sees meaningful consumer response” to its new marketing initiatives; prunes 2019 U.S. store openings to 5-6 vs 10-14 outlined earlier

** Cuts 2019 sales range to C$358 mln-C$375 mln, from C$410 mln to C$450 mln previously stated

** Pares adj net income target to between C$20 mln-C$24 mln, from C$35 mln-C$40 mln

** Shares down 60 pct so far this year to Tues close ($1 = 1.3284 Canadian dollars) (Reporting By Aparajita Saxena in Bengaluru)

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