March 11, 2020 / 2:51 PM / a month ago

BRIEF-Wolford Expects Coronavirus To Have Negative Impact On Co's Sales And Earnings

March 11 (Reuters) - WOLFORD AG:

* ADJUSTMENT OF OUTLOOK

* EXPECTS CORONAVIRUS TO HAVE SIGNIFICANT NEGATIVE IMPACT ON DEVELOPMENT OF SALES AND EARNINGS OF WOLFORD GROUP

* NO LONGER EXPECTS A POSITIVE OPERATING RESULT (EBIT) FOR 2020/21 FINANCIAL YEAR

* IN ITALY, WHERE VIRUS HAS HIT PARTICULARLY HARD, WOLFORD’S SALES HAVE FALLEN BY ABOUT 50% IN LAST TWO WEEKS

* SALES IN DACH REGION HAVE FALLEN BY AROUND 30% IN LAST TWO WEEKS

* THESE NEGATIVE EFFECTS ARE EXPECTED TO HAVE IMPACT ON NEW FISCAL YEAR 2020/21 (MAY 1, 2020 - APRIL 30, 2021) Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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