Brief: Maisons Du Monde Q1 Sales Down 13%, Not To Propose Dividend

Maisons du Monde SA

16/04/2020 17:34

April 16 (Reuters) - MAISONS DU MONDE SA  MDM.PA :
    * Q1 2020 SALES DOWN 13% DUE TO COVID-19 RELATED STORE
CLOSURES
    * FIRST-QUARTER 2020 GROUP SALES, BROADLY STABLE UNTIL 15
MARCH
WHEN EUROPEAN STORE CLOSURES BEGAN TO ACCELERATE, DECLINED 13%
YEAR-ON-YEAR (AT CURRENT EXCHANGE RATES) TO STAND AT EUR 244 MLN
    * STRONG WEB ACTIVITY WITH ONLINE ORDERS UP IN DOUBLE DIGITS
SINCE
1 APRIL; Q2 2020 SALES EXPECTED TO BE SIGNIFICANTLY DOWN DUE TO
COVID-19 LOCKDOWN
    * BOARD OF DIRECTORS NOT TO PROPOSE 2019 DIVIDEND
    * STRINGENT CASH PRESERVATION AND COST REDUCTION MEASURES
FULLY IN
MOTION
    * AT 31 MARCH 2020, MAISONS DU MONDE'S CASH POSITION WAS EUR
222
MLN, PROVIDING IT WITH SUFFICIENT HEADROOM TO FACE CURRENT
CRISIS

    
 Source text for Eikon:  ID:nNDL6d3MYN 
    
 Further company coverage:  MDM.PA  
   


 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 778 51 10))