Brief: Roots Qtrly Basic Loss Per Share Of $0.23

Roots

11/09/2019 12:11

Sept 11 (Reuters) - Roots Corp  ROOT.TO :
    * ROOTS REPORTS FISCAL 2019 SECOND QUARTER RESULTS AND
PROVIDES
UPDATE TO FISCAL 2019 TARGETS
    * QTRLY  TOTAL SALES OF $61.7 MILLION, UP 2.5% FROM $60.2
MILLION
IN Q2 OF FISCAL 2018
    * QTRLY COMPARABLE SALES DECLINE OF 2.9% ON TOP OF
COMPARABLE
SALES GROWTH OF 1.1% IN Q2 2018
    * QTRLY  BASIC LOSS PER SHARE OF $0.23
    * QTRLY ADJUSTED NET LOSS PER SHARE OF $0.15
    * ROOTS REMAINS CONFIDENT IN ITS ABILITY TO DELIVER
YEAR-OVER-YEAR
SALES GROWTH FOR FISCAL 2019
    * COMPANY PLANS TO COMPLETE ANOTHER RENOVATION AND
RELOCATION AND
ADD TWO NEW CORPORATE-RETAIL STORES BY YEAR-END
    * NOW EXPECTS TO SEE YEAR-OVER-YEAR PRESSURE ON PARTNERS AND
OTHER
SALES
    * NOW EXPECTS FISCAL 2019 SALES TO BE AT LOW END, OR FALL
SLIGHTLY
BELOW, COMPANY'S PREVIOUSLY-DISCLOSED TARGET RANGE OF $358 TO
$375 MILLION
    * EXPECTS INCREASED SG&A EXPENSES FOR FISCAL 2019
    * ROOTS - ESTIMATES SOFTNESS IN ASIA BIZ & INCREMENTAL COSTS
TO
COMPLETE TRANSITION TO NEW DISTRIBUTION CENTRE WILL HAVE
NEGATIVE IMPACT ON ADJUSTED EBITDA OF ABOUT $5 - $6 MILLION
    * ROOTS - WITH RECENT MACRO-ECONOMIC,GEOPOLITICAL HEADWINDS
THAT
CO'S ASIA BUSINESS IS FACING, EXPECTS TO SEE PRESSURE ON
PARTNERS AND OTHER SALES
    * REMAIN CONFIDENT IN CO'S ABILITY TO DELIVER YEAR-OVER-YEAR
SALES
GROWTH IN FISCAL 2019
    * EXPECTS FISCAL 2019 ADJUSTED EBITDA AND ADJUSTED NET
INCOME
RESULTS TO FALL BELOW COMPANY'S PREVIOUSLY-DISCLOSED TARGET
RANGES

Source text for Eikon:  ID:nCNWs7thka 
Further company coverage:  ROOT.TO 

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