Surfstitch in halt ahead of earning update

Surfstitch has already slashed its earnings guidance once and is preparing to issue another update to investors

Surfstitch has already slashed its earning guidance once and is preparing to issue another update. (AAP)

Surfstitch shares have been placed in a trading halt while the sports retail group prepares to issue an earnings update to investors.

The company already slashed its earnings guidance in May, sending its shares tumbling more than 50 per cent to near their current value of 40.5 cents.

Surfstitch, launched out of a Sydney garage in 2007, originally forecast full-year earnings before interest, tax, depreciation and amortisation of at least $15 million but revised that down to $2 million.