Citi notes Australia-based retailer Nick Scali's delivery woes, trims PT, FY profit forecast
** Citi cuts PT for Nick Scali NCK.AX by 4% to A$15.31; retains "buy" rating
** Brokerage says Australia-based home furnishing retailer's delivery delays may be limited to 1H25, but could impact its brand perception
** Nick Scali, on Wednesday, said it expects to incur unexpected delays in delivery of its products and additional costs, as one of its freight forwarders, Lion Global, has faced operational issues
** Several negative online reviews discussing the delays; this could tarnish company's brand and impact future orders - Citi
** Brokerage cuts NPAT guidance by 8% for fiscal 2025, assuming a A$3 mln($1.95 mln) impact due to the issue
** Nick Scali up 12.3% so far this year, as of last close, outperforming a 9.6% rise on the ASX All Ordinaries index .AORD
($1 = 1.5404 Australian dollars)
Reporting by Nikita Maria Jino in Bengaluru
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