Brief: EMOVA Group Unable To Confirm 2019/2020 Targets Due To Coronavirus

Emova SA

31/03/2020 11:25

March 31 (Reuters) - EMOVA GROUP SA  ALEMV.PA :
    * REPORTED ON MONDAY UPDATES AND CONSEQUENCES ON CORONAVIRUS
    * FOR PAST TWO WEEKS, IN ANTICIPATION OF STORE CLOSING
MEASURES,
ASKED ITS BRANCHES AND FRANCHISES TO LIMIT THEIR ORDERS FOR
FLOWERS AND POSTPONED COMMERCIAL AND COMMUNICATION OPERATIONS
    * SINCE TUESDAY 17 MARCH 2020, ALL 300 POINTS OF SALE IN
FRANCE
HAVE BEEN CLOSED
    * IN FIRST HALF OF MARCH 9 STORES IN ITALY AND 9 STORES IN
SPAIN
ALSO CLOSED 
    * TO REDUCE ECONOMIC IMPACT OF RESTRICTIVE MEASURES, INTENDS
TO
USE ALL RESOURCES AT ITS DISPOSAL FOR BENEFIT OF GROUP AND ITS
FRANCHISES
    * FRENCH EMPLOYEES AT HEAD OFFICE AND IN BRANCHES WERE
PLACED ON
SHORT-TIME WORKING
    * WILL APPLY FOR AID MEASURES ANNOUNCED BY GOVERNMENT
    * DECIDED NOT TO INVOICE FRANCHISES FOR FEES CORRESPONDING
TO
MONTHS OF FEBRUARY AND MARCH, AS WELL AS PURCHASES OF FLOWERS AT
END OF FEBRUARY AND MARCH
    * NOT IN A POSITION TO CONFIRM ITS OUTLOOK FOR FINANCIAL
YEAR
2019/2020, NAMELY GROWTH IN SALES AND EBITDA
    * MAJOR AMBITIONS OF ITS 5-YEAR STRATEGIC PLAN ARE
MAINTAINED
    * DEPLOYMENT OF STRATEGIC PLAN IS MOMENTARILY POSTPONED
DURING THE
CURRENT CRISIS
    * WHEN STORE CLOSURE MEASURES ARE LIFTED INTENDS TO
ANTICIPATE IN
RESUMPTION OF FLOWER ORDERS AND BE RESPONSIVE TO OFFER CUSTOMERS
SERVICE AND QUALITY PRODUCTS
    * AT REOPENING WILL GIVE PRIORITY TO COMMERCIAL OPERATIONS
ON
FLOWERS COMING FROM FRENCH PRODUCERS

    
 Source text: https://bit.ly/3446VyP
    
 Further company coverage:  ALEMV.PA  
   


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