Rocky Mountain Chocolate: Swings to Q1 loss on COVID-19 hit, shares fall
20/07/2020 17:06
** Chocolates manufacturer's shares RMCF.O down 3.8% at
$4.12
** Posts Q1 net loss of $3.7 mln vs a profit of $712,000 a
year earlier
** RMCF's Q1 rev falls 67.9% to $2.70 mln as sales took a
hit from coronavirus-led store closures and product shipments
fell
** Nearly all stores have been directly and negatively
impacted by public health measures taken in response to the
pandemic - company
** Franchisees and licensees are not ordering products for
their stores in line with historical amounts - RMCF urn:newsml:reuters.com:*:nACSD6kspa
** Expects this trend to continue to negatively impact,
among other things, factory sales, retail sales and royalty and
marketing fees of the company
** YTD, RMCF has more than halved, including session's
losses
(Reporting by Arundhati Sarkar in Bengaluru)
((Arundhati.Sarkar@thomsonreuters.com;
twitter.com/Arundhati_05; +1 646 223 8780 Ext: 2776;))