The G8 Education share price has lost 31% of its value since this time last year. The childcare centre operator's shares have come under significant pressure since the release of a trading update at its investor day in November. G8 Education's update revealed that a greater than forecast increase in supply has put pressure on its like for like occupancy growth. In light of this and its higher than planned wages, underlying EBIT is expected to be in the range of $131 million to $134 million. This compares to its previous guidance of $140 million to $145 million. Whilst this isn't the biggest downgrade, investors appear concerned that trading conditions will remain tough for some time to come.