Polish retailers: Lockdown 2.0

Eurocash SA

04/11/2020 13:36

** Shares in Polish retailers move sharply lower in
afternoon trade, extending earlier losses after the government
has announced further restrictions to curb the spread of
coronavirus
    ** Poland will close most shops in shopping malls as of
Saturday, except for essentials like groceries or pharmacies
 urn:newsml:reuters.com:*:nW8N2EN01L
    ** Shoe retailer CCC  CCCP.WA  extended losses to as much as
10% in heavy volumes, while fashion retailer LPP is down 5%
    ** In contrast, food retailers Dino Polska  DNP.WA  and
Eurocash  EUR.WA , less impacted by the shopping malls closures,
trade higher
    ** Both CCC's and LPP's stocks suffered heavy losses since
the malls' closed in mid-March, rebounding after their
re-opening in early May, but CCC is still down 64% and LPP 35%
so far this year

 ((anna.pruchnicka@tr.com))