OrotonGroup's decision to close the loss-making Gap business will cost the accessories and clothing retailer at least $5 million before lease exit costs.
In a trading update on Thursday, OrotonGroup confirmed that underlying earnings before interest, tax depreciation and amortisation, before one-off costs, would come in at the upper end of its previous guidance range of $2 million to $3 million.
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Sue Mitchell writes the fortnightly Window Shopping column for the Financial Review and has covered retailing for over 30 years. Connect with Sue on Twitter. Email Sue at smitchell2045@gmail.com
