Retail Food Group - retailer behind Gloria Jean's, Donut King and Crust Pizza - sees shares dumped
07/06/2017
It is best known for its sprawling collection of fast food joints, which span donuts to cakes and bakeries, with pizza and coffee shops in between, but investors in Retail Food Group (RFG) headed for the exits on Monday due to concerns about upcoming accounting changes.
RFG's shares were dumped, closing down a heavy 11 per cent at $4.63, ending near the day's low of $4.59, with sellers on edge thanks to an analyst note that warned of a balance sheet hit due to planned changes to accounting standards.
It operates a string of well-known food outlets, such as Michel's Patisserie, Brumby's Bakery, Donut King and Crust Pizza.
Under revised accounting standards, operating leases will be consolidated onto balance sheets and it is likely that RFG will have to update the market on the prospective impact when it releases its next set of results later in the year.
Brian Robins
Fonte:http://www.theage.com.au/business/markets/retail-food-group--retailer-behind-gloria-jeans-donut-king-and-crust-pizza--sees-shares-dumped-20170605-gwkjot.html