Brief: LXRandCo Announces Updated Strategic Plan Focused On Disciplined Growth, Expanded Margins And Cash Flow Generation

LXRandCo

13/06/2018 12:06

June 13 (Reuters) - LXRandCo Inc  LXR.TO :
    * LXRANDCO ANNOUNCES UPDATED STRATEGIC PLAN FOCUSED ON
DISCIPLINED
GROWTH, EXPANDED MARGINS AND CASH FLOW GENERATION
    * LXRANDCO INC - COMPANY STREAMLINES GEOGRAPHIC FOCUS TO
U.S. AND
CANADA
    * LXRANDCO INC - PLANS TO OPEN NET 39 NEW STORES IN U.S. AND
CANADA AND WILL CLOSE ALL LOCATIONS IN EUROPE
    * LXRANDCO - THROUGHOUT REMAINDER OF 2018, CO PLANS TO OPEN
55 NEW
LOCATIONS IN U.S. AND CANADA, 45 WITH EXISTING PARTNERS AND 10
WITH NEW PARTNER BELK
    * LXRANDCO INC - COMPANY WILL ALSO EXIT ALL OF ITS 16 STORE
LOCATIONS WITH ITS RETAIL PARTNER BURLINGTON
    * LXRANDCO INC - AT COMPLETION OF OPENINGS & CLOSURES, CO
ANTICIPATES HAVING A TOTAL OF 146 RETAIL LOCATIONS WITH SEVEN
PARTNERS
    * LXRANDCO INC - COMPANY IS WITHDRAWING PREVIOUSLY PROVIDED
GUIDANCE WITH RESPECT TO TARGETED RETAIL NETWORK EXPANSION AND
STORE COUNTS
    * LXRANDCO INC - COMPANY IS WITHDRAWING PREVIOUSLY PROVIDED
GUIDANCE WITH RESPECT TO RUN-RATE REVENUE, ADJUSTED EBITDA AND
RUN-RATE ADJUSTED EBITDA
    * LXRANDCO INC - CO IS EMBARKING ON A COST REDUCTION PLAN
WHICH IS
EXPECTED TO GENERATE ABOUT $1.2 MILLION IN CORPORATE COST
SAVINGS ANNUALLY

Source text for Eikon:  ID:nCNW6s47Ga 
Further company coverage:  LXR.TO 

 (Reuters.Briefs@thomsonreuters.com)