March 20, 2020 / 10:30 AM / 9 days ago

BRIEF-LI & Fung Says COVID-19 Will Cause Major Uncertainty For 2020 & Beyond

March 20 (Reuters) - LI & Fung Ltd:

* COVID-19 WILL CAUSE MAJOR UNCERTAINTY FOR 2020 AND BEYOND

* SO FAR, RETAIL HAS BEEN WEAK OVER FIRST TWO MONTHS OF 2020

* COVID-19 VIRUS IMPACT IS ADDING EVEN MORE VOLATILITY AND UNCERTAINTY TO 2020 OUTLOOK

* EXPECT MULTI-YEAR DESTOCKING TREND IN RETAIL TO CONTINUE IN 2020

* EXPECT ONSHORE WHOLESALE BUSINESS TO REMAIN UNDER PRESSURE

* ORGANIC GROWTH MOMENTUM OF IN-COUNTRY LOGISTICS BUSINESS IS EXPECTED TO FACE SOME HEADWINDS IN 2020

* EXPECT TO CONTINUE OUR RESTRUCTURING & REORGANIZING EFFORTS OVER COURSE OF NEXT FEW YEARS

* STRONG ORGANIC GROWTH MOMENTUM OF IN-COUNTRY LOGISTICS BUSINESS EXPECTED TO FACE SOME HEADWINDS IN 2020 Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below