April 24, 2020 / 6:35 AM / a month ago

BRIEF-CCC Q1 Net Loss Widens To 339.9 Mln Zlotys

April 24 (Reuters) - CCC SA:

* REPORTS Q1 NET LOSS 339.9 MILLION ZLOTYS VERSUS LOSS 152.6 MILLION ZLOTYS YEAR AGO

* Q1 REVENUE 965.1 MILLION ZLOTYS VERSUS 1.04 BILLION ZLOTYS YEAR AGO

* Q1 OPERATING LOSS 309.8 MILLION ZLOTYS VERSUS LOSS 148.6 MILLION ZLOTYS YEAR AGO

* Q1 CONSOLIDATED GROSS MARGIN FROM SALES 42.8% VERSUS 47.4% YEAR AGO

* AT END-MARCH GROUP’S SALES NETWORK INCLUDED 1,211 CCC NETWORK STORES

* AS OF REPORT PUBLICATION GROUP HAS SECURED MERCHANDISE FOR SALE IN SPRING-SUMMER 2020

* REGARDING CAPEX THE COMPANY ASSUMES LIMITATIONS AND SHIFTS, UPHOLDS ASSUMPTIONS OF GO.22 STRATEGY

* IN MID AND LONG TERM GROUP SEES SIGNIFICANT DROP IN SHOE MARKET VALUE IN 2020 AND ITS RESTORATION 2021, ASSUMING LACK OF ADMINISTRATIVE CLOSURE OF STORES IN 2021

* AT END-MARCH GROUP’S RETAIL SPACE AMOUNTED TO 753,900 m2, DOWN 6.1 tys. m2 VERSUS END-2019

* THE COMPANY IS CONSIDERING BOOKING A PROVISION IN Q2 TO COVER RESTRUCTURING COSTS

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