March 18, 2020 / 3:30 PM / in 11 days

BRIEF-Loungers Sees Material Reduction In Trading Performance For Remainder Of FY20 And Into FY21 From Virus

March 18 (Reuters) - Loungers PLC:

* LOUNGERS PLC - COVID-19 TRADING UPDATE

* LOUNGERS PLC - HAS CONTINUED TO TRADE IN LINE WITH EXPECTATIONS, WITH LIKE FOR LIKE SALES OF +4.4% FOR 47 WEEKS TO 15 MARCH 2020

* LOUNGERS PLC - NOT IN A POSITION TO QUANTIFY IMPACT OF COVID-19 ON OUR FINANCIAL PERFORMANCE AT THIS STAGE

* LOUNGERS PLC - OVER TWO WEEKS TO 15 MARCH 2020, TRADE CONTINUED TO HOLD UP WELL WITH LIKE FOR LIKE SALES OF +2.5%

* LOUNGERS PLC - EXPECT A MATERIAL REDUCTION IN OUR TRADING PERFORMANCE FOR REMAINDER OF FY20 AND INTO FY21 FROM VIRUS

* LOUNGERS PLC - HAVE ONGOING SUPPORT OF OUR BANKS, TOGETHER WITH LION CAPITAL, WHICH REMAINS A MAJOR, WELL CAPITALISED SHAREHOLDER

* LOUNGERS PLC - AS A RESULT OF GOVERNMENT’S ADVICE TO AVOID HOSPITALITY VENUES, WE ARE BEGINNING TO EXPERIENCE A FALL-OFF IN SALES

* LOUNGERS PLC - ANTICIPATE A VERY CHALLENGING TRADING ENVIRONMENT WITH SIGNIFICANTLY LOWER SALES IN COMING WEEKS Source text for Eikon: Further company coverage:

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