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Adairs slumps 30 per cent on another guidance cut

Adairs shares have lost more than 30 per cent after the homewares and manchester retailer issued another earnings downgrade, citing supply chain challenges. The company announced on Friday it had observed “an adverse change” in trading momentum since the end of May, with sales growth completely flat over the first three weeks of June.  Adairs chief executive Mark Ronan said the performance marked a material reduction from the 9.0 per cent like-for-like sales growth recorded