DEATHWATCH - Thomas Cook shares nosedive
You have to wonder about any company that pins its hopes on a marketing campaign fronted by Jamie Redknapp, but there we are; Thomas Cook has lost over a quarter of its share price this morning after releasing a profit warning to shareholders.
The warning states that the holiday firm will struggle to deliver dividends because of UK consumers spending less in the current economic climate, and because of political unrest abroad in destinations such as Tunisia, Egypt and Morocco. However, Thomas Cook will also be initiating "a fundamental strategic and operational review" of its UK business because of poor trading.
The profit warning wiped 28% from the company's shares when trading began this morning, and the price has yet to recover.
[BBC] thanks to avid Bitterwallet reader Mike