Edition:
India

Roots Qtrly Basic Loss Per Share Of $0.23


Wednesday, 11 Sep 2019 

Sept 11 (Reuters) - Roots Corp ::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. 

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2.03
-0.02 -0.98%
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