June 15, 2020 / 6:16 AM / 23 days ago

BRIEF-Grandvision Publishes COVID-19 Trading Update

June 15 (Reuters) - Grandvision NV:

* GRANDVISION PUBLISHES COVID-19 TRADING UPDATE

* AS OF 30 MAY 2020, APPROXIMATELY 4,700, OR 80% OF OWN STORES RETURNED TO FULL OPERATION, INCLUDING IN MOST OF OUR MARKETS ACROSS EUROPE

* CURRENT DEVELOPMENTS WE ARE SEEING IN OUR BUSINESS RECONFIRM OUR CONFIDENCE IN THE RESILIENCE AND LONG-TERM PROSPECTS OF OUR COMPANY

* STRONG RECOVERY IS CURRENTLY SEEN IN THE BENELUX, GERMANY, AUSTRIA, SWITZERLAND AND ACROSS MOST OF THE NORDICS

* ON 31 MAY 2020, NET DEBT OF €842 MILLION, VERSUS A NET DEBT POSITION AT THE END OF 1Q20 OF €755 MILLION

* WITH RECOVERY OF OUR SALES LEVELS, GRANDVISION HAS TAKEN ALL MEASURES TO ENABLE FULL OPERATION LEVELS OF ITS STORES IN THE COUNTRIES WHERE POSSIBLE

* TO CONTINUE TO REFRAIN FROM ISSUING A NEW OUTLOOK FOR THE YEAR 2020 Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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