Edition:
United States

Bic cuts FY net sales outlook


Friday, 29 Sep 2017 11:40am EDT 

Sept 29 (Reuters) - BIC ::REG-BIC UPDATES ITS FULL YEAR 2017 NET SALES OUTLOOK.‍2017 NET SALES ORGANIC GROWTH(1) IS EXPECTED TO BE SLIGHTLY BELOW 2%, COMPARED TO BETWEEN +3% AND +4% COMMUNICATED PREVIOUSLY.​.‍AT THIS SALES GROWTH LEVEL, WE EXPECT 2017 NORMALIZED INCOME FROM OPERATIONS MARGIN DECLINE TO BE LESS THAN 100 BASIS POINTS.​.‍REVISED FULL YEAR 2017 NET SALES ORGANIC GROWTH OUTLOOK IS DUE TO: * LOWER THAN EXPECTED PERFORMANCE IN U.S. LIGHTERS AND SHAVERS FOR BALANCE OF YEAR​.‍SEVERAL MAJOR CUSTOMERS ARE REDUCING THEIR INVENTORY LEVELS, AFFECTING SELL-IN​.‍WET SHAVE MARKET CONTINUES TO BE HEAVILY DISRUPTED​.GROUP CONFIRMS ITS NORMALIZED INCOME FROM OPERATIONS MARGIN OUTLOOK OF LESS THAN 100 BASIS POINTS DECLINE.REVISED FY OUTLOOK DUE TO ‍STRONGER THAN EXPECTED SOFTNESS IN LATIN AMERICA​. 

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