Shares digital

Fashion retailer Marchpole (MPH) chose late last Friday afternoon (1 February) to bury its second profits warning in ten weeks. Originally the company expected to enjoy profits of £8 million, but now is forecasting a loss to the embarrassment of its brokers – who could contemplate resigning – and its PR advisers. Shares have plummeted 33% in the past few days to 17p, having already lost some 75% of their value last year. The news comes as another blow to its credibility.

Shares says: This news broke after our fledging guide (page 25) went to press and as a result our recommendation has changed from hold to avoid. JM

AVOID