Last checked at 20 Mar 2020 07:00
Date: 20 March 2020
Frasers Group Plc
("Frasers Group" or the "Company")
STATEMENT RE COVID-19
Frasers Group has been monitoring the potential impact of COVID-19 across its UK and international businesses. Whilst it is too early to estimate what the full impact from COVID-19 will be on the Company's performance for the current financial year ending 26 April 2020, and future periods, the Board expects that COVID-19 will cause significant disruption to its business, including reducing customer footfall and therefore expects that Frasers Group will not achieve the range of guidance of 5 to 15% EBITDA growth (including House of Fraser but pre-IFRS 16 adjustments) previously given for the financial year ending 26 April 2020. Accordingly, and given the ongoing uncertainty, the Company is no longer giving formal guidance in relation to the financial year 2020.
Frasers Group's year-to-date performance had been in-line with expectations prior to COVID-19. The Company has a strong management team which can adapt and respond quickly to challenges and changing market conditions. Over the longer term, the Board remains confident in focussing on the Company's elevation strategy.
Ends.
Frasers Group Plc Tom Piper, Company Secretary LEI: 213800JEGHHEAXIJDX34 |
T. 0344 245 9200 E. investor.relations@sportsdirect.com
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