Kering: expects Q1 sales to drop 15% due to COVID crisis
(CercleFinance.com) - Kering announced on Friday evening that its consolidated Q1 2020 sales could fall by around 13% to 14% as reported (and by about -15% in comparable data) relative to Q1 2019, due to the COVID-19 epidemic.
"Kering expects: Second quarter 2020 revenue sharply impacted by the effect of the epidemic on local clienteles and tourism; A first half 2020 recurring operating margin in decline, which would be premature to quantify at this stage given the dynamic nature of the situation and the current lack of visibility," it said.
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"Kering expects: Second quarter 2020 revenue sharply impacted by the effect of the epidemic on local clienteles and tourism; A first half 2020 recurring operating margin in decline, which would be premature to quantify at this stage given the dynamic nature of the situation and the current lack of visibility," it said.
Copyright (c) 2020 CercleFinance.com. All rights reserved.