March 13, 2020 / 9:59 AM / 17 days ago

Struggling TV and stereo maker B&O cuts outlook on virus

COPENHAGEN, March 13 (Reuters) - Bang & Olufsen on Friday cut its sales and profit margin outlook due to the anticipated impact from coronavirus, the struggling Danish luxury TV and stereo maker said.

B&O now expects its 2019/20 revenue to fall 20-29% versus a previous range of 13-18%.

It now expects its EBIT margin to shrink by 10-15% versus a previous forecast of a 4-9% reduction. (Reporting by Andreas Mortensen; editing by Jason Neely)

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