April 23, 2020 / 7:22 AM / a month ago

BRIEF-Studio Retail Says Studio Business Able To Trade Well Ahead Of Prior Year During Lockdown

April 23 (Reuters) - Studio Retail Group PLC:

* STUDIO RETAIL GROUP PLC - STUDIO BUSINESS HAS BEEN ABLE TO TRADE WELL AHEAD OF PRIOR YEAR DURING LOCKDOWN PERIOD

* STUDIO RETAIL GROUP PLC - TAKING A PRUDENT APPROACH TOWARDS STOCK INTAKE FOR SUMMER PERIOD, PARTICULARLY ON CLOTHING

* STUDIO RETAIL GROUP - IN EDUCATION BUSINESS, DEMAND SINCE MARCH 18 AT AROUND 20-30% OF LEVELS NORMALLY EXPECT TO SEE AT THIS TIME OF YEAR

* STUDIO RETAIL GROUP PLC - IN EDUCATION BUSINESS, MAJORITY OF NON-WAREHOUSE STAFF HAVE BEEN FURLOUGHED ON FULL PAY FOR TIME BEING

* STUDIO RETAIL GROUP PLC - GROUP HAS SUFFICIENT LIQUIDITY FOR ITS NEAR-TERM REQUIREMENTS WITHOUT REQUIRING RECOURSE TO GOVERNMENT FUNDING SCHEMES.

* STUDIO RETAIL GROUP PLC - NOT GIVING ANY GUIDANCE FOR FY21 AT THIS STAGE.

* STUDIO RETAIL GROUP PLC - CURRENTLY ANTICIPATE PROPOSED SALE OF EDUCATION WILL COMPLETE IN AUGUST 2020

* STUDIO RETAIL GROUP PLC - REVENUE FOR FULL YEAR IN STUDIO WAS C.3% AHEAD OF PRIOR YEAR, AND UP C.5% IN SECOND HALF OF YEAR. Source text for Eikon: Further company coverage:

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