4imprint order flow hit by Covid-19

(Sharecast News) - 4imprint said on Thursday that daily order flow had reduced significantly since 10 March due to the coronavirus.
The company said the spread of the virus in North America and UK has begun to have a "serious" impact on demand. Since 10 March, daily order counts have been "very volatile" and fallen "materially" to an average over the last three trading days of around 40% of the previous year.

As far as the supply chain is concerned, it noted the spread of Covid-19 in North America and the UK and the resulting potential restrictions on the operations of its domestic suppliers. "We have very strong relationships with our suppliers and we will continue to work closely with them in the coming days and weeks as the situation evolves."

"We are unable to predict how long this lower level of order activity will last, but clearly the effects of Covid-19 will impact revenue and profitability in the current financial year.

"In the immediate term we are materially recalibrating our marketing activities and identifying and implementing cost saving initiatives, whilst being careful not to compromise the long-term prospects of the business."

4imprint said it will provide more guidance as and when it has more clarity.