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BRIEF-Baby Bunting Withdraws Previously Issued FY20 Guidance

Published 23/03/2020, 08:18 pm
© Reuters.
BBN
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March 23 (Reuters) - Baby Bunting Group Ltd BBN.AX :

* PERFORMANCE TO DATE HAS BEEN IN LINE WITH FY20 EARNINGS GUIDANCE

* WITHDRAWS PREVIOUSLY ISSUED FY20 GUIDANCE

* DURING SECOND HALF, TOTAL SALES GROWTH HAS BEEN 12.4% AND COMPARABLE STORE SALES GROWTH HAS BEEN 6.2%

* SUPPLIER FACTORIES AND INTERNATIONAL LOGISTICS RETURNING TO NORMAL AND THERE HAS BEEN MINIMAL IMPACT ON SUPPLY CHAIN TO DATE

* MAKING APPROPRIATE ADJUSTMENTS TO REDUCE COSTS AND CAPITAL EXPENDITURE AND PRESERVE AVAILABLE FUNDS

* TO DEFER AROUND $7 MILLION OF CAPITAL COSTS THAT WERE SCHEDULED FOR SECOND HALF

* IN RELATION TO INVENTORY, SUPPLIER FACTORIES AND INTERNATIONAL LOGISTICS ARE GENERALLY RETURNING TO NORMAL

* WITHDRAWS FY20 GUIDANCE DUE TO INCREASING UNCERTAINTY ARISING FROM UNKNOWN POTENTIAL IMPACT OF COVID-19

* EXPECTED THAT RE-LAUNCH OF BABY BUNTING'S NEW WEBSITE WILL NOT OCCUR IN CURRENT CALENDAR YEAR

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