May 15, 2020 / 12:10 PM / 2 months ago

BRIEF-Foschini Group Says Turnover In April Was Significantly Lower Than Last Year

May 15 (Reuters) - Foschini Group Ltd:

* JSE: TFG - COVID-19 AND TRADING UPDATE

* THE FOSCHINI GROUP LTD - IMPACT OF COVID-19 IS BEING FELT IN ALL OUR OPERATIONS GLOBALLY

* THE FOSCHINI GROUP LTD - GROUP TURNOVER IN APRIL 2020 WAS SIGNIFICANTLY LOWER THAN APRIL 2019

* THE FOSCHINI GROUP LTD - GROUP ACHIEVED TURNOVER OF R3.2BN FOR FIRST FIVE WEEKS OF FY2020

* THE FOSCHINI GROUP LTD - CONSOLIDATED TURNOVER GREW 3.6% FOR TWELVE MONTHS TO 31 MARCH 2020

* THE FOSCHINI GROUP LTD - WELL ADVANCED IN SECURING ADDITIONAL COMMITTED FACILITIES OF R2.5 BILLION

* THE FOSCHINI GROUP LTD - PLACING NEW PROJECTS AND DEVELOPMENTS ON HOLD HAS REDUCED FORECAST CAPITAL EXPENDITURE BY C.R1 BILLION

* THE FOSCHINI GROUP LTD - ONGOING UNCERTAINTY WILL HAVE A SIGNIFICANT IMPACT ON OUR BUSINESS IN FY2021

* THE FOSCHINI GROUP LTD - DIFFICULT TO PREDICT WITH ACCURACY WHAT EXTENT OF THIS IMPACT WILL BE Source text for Eikon: Further company coverage:

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