HF Foods: Rises on improvement in weekly sales, online expansion

Hf Foods

18/05/2020 18:03

** Shares of food distributor  HFFG.O  up 6.4% at $7.02 in
afternoon trading - set for best day in nearly three weeks
    ** HF Foods says weekly sales in May have recovered to over
50% of pre-COVID-19 levels, from a nearly 67% decline in last
two weeks of March
    ** HFFG is optimistic the extent to which headwinds affect
its restaurant partners will subside as the U.S. adjusts to
post-pandemic world
    ** Co is also developing an e-commerce platform to meet
higher demand for groceries online and also working on securing
new deals with other online grocery retailers  urn:newsml:reuters.com:*:nGNX9K7MgK
    ** HFFG posts Q1 loss of $339.9 mln compared with profit of
$1.7 mln a year earlier, hit by goodwill impairment charge of
$338.2 mln
    ** Including session's decline, stock down 64% this year

 (Reporting by Praveen Paramasivam in Bengaluru)
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