March 16, 2020 / 2:41 PM / 14 days ago

BRIEF-VRG Expects Coronavirus Outbreak To Have Significant Negative Impact On Financial Results

March 16 (Reuters) - VRG SA:

* ON CORONAVIRUS: EXPECTS CORONAVIRUS OUTBREAK TO HAVE SIGNIFICANT NEGATIVE IMPACT ON FINANCIAL RESULTS

* SAYS CLOSING OF SHOPPING MALLS WILL LOWER ITS CONSOLIDATED Q1 REVENUES TO ABOUT 190 MILLION ZLOTYS, DOWN 11% Y/Y

* SAYS ESTIMATES THAT ITS E-COMMERCE REVENUES IN Q1 WILL ACCOUNT FOR 24% OF TOTAL REVENUES VERSUS 15.5% YEAR AGO

* SAYS HAS UNDERTAKEN ACTIVITIES RELATED TO THE RENEGOTIATION OF RENTS FOR COMMERCIAL SPACE

* SUPPLIES IN CLOTHING AND JEWELRY SEGMENTS ALLOW ENSURING FULL AVAILABILITY OF PRODUCT OFFER IN ONLINE STORES AND STATIONARY STORES IN PERSPECTIVE TO END OF H1 Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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