Sitoy Group Holdings (HKG:1023) expects a loss attributable to the owners without specifying any amount for the six months ended Dec. 31, compared with a profit of HK$53.6 million for the corresponding period of the previous year, according to a Tuesday filing with the Hong Kong bourse.
The company attributed the expected loss to the loss incurred for writing off Cole Haan inventories and capital expenditures, compensating terminated staff, and final payments to Cole Haan. A significant one-off loss is expected from terminating the Cole Haan business.
The company's shares were down over 7% in the recent trading.
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