The FTSE 250-listed company reversed 29% or 172p to 415p, the lowest level for the Mappin & Webb and Goldsmiths retailer since 2020.
The downgrade to profit guidance is another sign of the struggles facing luxury retailers and brands after an initial post-pandemic boom.
Chief executive Brian Duffy said: "The festive period was particularly volatile this year for the luxury sector, with consumers allocating spend to other categories such as fashion, beauty, hospitality and travel."
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