The annual shopping day frenzy, known as Black Friday, usually boosts retailers' sales and profits towards the end of the year.

However, for the British online white goods retailer, AO World,  Black Friday had an "adverse effect" on the company and "it did not produce incremental sales."

AO World added that the impact will affect the group's full year's results.

"AO has experienced tougher than expected trading conditions in the final quarter of the year, as compared to Q4 in FY2014," said  John Roberts, CEO at AO World in a regulatory statement. "While we are disappointed that sales and profits are going to come in slightly below expectations, we remain committed to our market-leading, customer-focused business model."

AO World said it expected gross revenue to be around 472.5 million for this year and pre-tax profit to hit 16.5 million.

It caused its shares to plunge by almost 50% today. It knocked 500 million off the value of the company.

Shares in AO World, which sells fridges, freezers and washing machines online, were still down by nearly 30% as of 1 p.m. GMT (8 a.m. ET).

NOW WATCH: This Video Of The Largest Breakage Of Ice From A Glacier Ever Filmed Is Absolutely Frightening

See Also:

Michael Keaton got caught pulling out an Oscars speech before another actor's name was announcedThe 3rd Iraq War is coming, and it will be ugly8 things successful people do NOT do every day