March 24, 2020 / 1:27 AM / 16 days ago

BRIEF-Woolworths Group Says Hotels Business Closed Until Further Notice

March 24 (Reuters) - Woolworths Group Ltd:

* GROUP UPDATE ON IMPACT OF CORONAVIRUS

* GROUP’S HOTELS BUSINESS HAS BEEN CLOSED UNTIL FURTHER NOTICE

* NOT ABLE TO ACCURATELY FORECAST NET IMPACT OF COVID-19 ON FINANCIAL YEAR 2020 RESULTS

* MADE DECISION TO DEFER SEPARATION OF ENDEAVOUR GROUP FROM WOOLWORTHS GROUP UNTIL CALENDAR 2021

* ALL OTHER WOOLWORTHS GROUP BUSINESSES REMAIN OPEN FOR TRADING

* AS THIS PERIOD OF SHUTDOWN, BOTH DISCRETIONARY SPEND AND CAPITAL EXPENDITURE WILL BE REVIEWED

* IN RECENT WEEKS, SALES GROWTH ACROSS RETAIL BUSINESSES HAS BEEN STRONG, WITH RECENT EXCEPTION OF HOTELS Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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