Baby Bunting Shares Hit Five-Year Low After Profit Guidance Cut

By Stuart Condie

SYDNEY–Baby Bunting Group shares tumbled more than 20% to a five-year low after the Australian baby-goods retailer slashed its annual profit guidance on weak sales.

Investors sold after Baby Bunting said its annual promotion delivered what it called unprecedentedly low sales. As a result, the company cut its fiscal 2023 net…