Brief: Jacques Bogart's Subsidiary April France Foresees Potential Closure Of 17 Shops In France

Bogart SA

19/01/2023 07:11

Jan 19 (Reuters) - Jacques Bogart SA  JBOG.PA :
    * THROUGHOUT FY 2022, BOGART NOTED A DECLINE IN ACTIVITY AND
PROFITABILITY OF ITS NETWORK OF SHOPS IN FRANCE LINKED TO
GENERAL ECONOMIC CONTEXT AND TO RECENT INTEGRATION OF  NEW
NOCIBÉ SHOPS IN SCOPE
    * NETWORK OF SHOPS IN FRANCE IS ALSO STRONGLY IMPACTED BY
CONSEQUENT INCREASE IN PRICE OF ENERGY AND WILL HAVE TO BEAR
COST OF RENTS LINKED TO ADMINISTRATIVE CLOSURES IMPOSED ON ITS
SHOPS (COVID-19 PERIOD) FOLLOWING A RECENT DECISION COURT OF
CASSATION
    * GROUP CONFIRMS PROSPECT OF AN INCREASE IN ITS ANNUAL
TURNOVER IN
2022 WITHOUT REACHING ITS EBITDA TARGET AND WITHOUT CALLING INTO
QUESTION THE GROUP'S FUNDAMENTALS
    * THIS SITUATION WILL AFFECT BOGART'S 2022 RESULTS
    * GROUP CONFIRMS ITS OUTLOOK OF INCREASE IN 2022 TURNOVER
WITHOUT,
HOWEVER, REACHING ITS EBITDA TARGET AND WITHOUT JEOPARDISING
GROUP'S FUNDAMENTALS
    * SUBSIDIARY APRIL FRANCE UNDERTOOK A STRATEGIC REVIEW OF
ITS SHOP
PERIMETER TO RESPOND TO THIS NEW CONTEXT
    * APRIL FRANCE FORESEES POTENTIAL CLOSURE OF 17 SHOPS IN
FRANCE
WHICH COULD LEAD TO THE LOSS OF 50 JOBS

Source text for Eikon:  ID:nACT78100 
Further company coverage:  JBOG.PA 
 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))