Disruptions And Reduced Demand To Affect Q1 Sales And Earnings
14/03/2022 06:35
March 14 (Reuters) - Footway Group AB FOOTb.ST :
* SAID ON FRIDAY DURING BEGINNING OF 2022, FOOTWAY GROUP
EXPERIENCED CONTINUED DISRUPTIONS IN THE SUPPLY CHAIN AND A
REDUCED DEMAND FOR THE COMPANY'S PRODUCTS
* DISRUPTIONS AND REDUCED DEMAND WILL AFFECT SALES AND
EARNINGS
FOR Q1 2022
* ESTIMATES THAT SALES FOR THE QUARTER WILL DECREASE BY SEK
100
MILLION COMPARED WITH THE CORRESPONDING QUARTER IN 2021 AND THAT
OPERATING PROFIT (EBITA) WILL DECREASE BY ABOUT SEK 25 MILLION
* THE MAIN REASONS FOR THE REDUCED DEMAND ARE A TEMPORARY
SHORTAGE
OF SO-CALLED TOP PRODUCTS, I.E. BIG-SELLING AND FAST-MOVING
PRODUCTS
* A RELATIVELY COLD WINTER HAS ALSO MEANT A LATER CHANGE OF
SEASON
COMPARED TO 2021
* THERE ARE CONTINUED NEGATIVE EFFECTS OF THE RECENT WAVE OF
COVID-19 AND AN IMPACT ON CONSUMER BEHAVIOR IN CERTAIN MARKETS,
PARTLY DRIVEN BY A WORRYING EXTERNAL SITUATION
Source text for Eikon: urn:newsml:reuters.com:*:nWkr3Yqr7c
Further company coverage: FOOTb.ST
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