Showroomprive.com
Showroomprive.com: INFORMATION REGARDING THE CONSEQUENCES OF THE COVID-19
EPIDEMIC
02-Apr-2020 / 17:47 CET/CEST
Dissemination of a French Regulatory News, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
INFORMATION REGARDING THE CONSEQUENCES OF THE COVID-19 EPIDEMIC
La Plaine Saint Denis, 2nd April 2020 - Showroomprivé, a leading European
online retailer specialising in fashion for the Digital Woman, has assessed
the adaptation of its operations to this unprecedented Coronavirus
(Covid-19) health crisis.
Following the government's initial announcements, Showroomprivé implemented
an action plan to secure its operations during the current crisis, while
taking the necessary measures to protect the health of its employees and
their loved one.
Thanks to the digital tools and Cloud solutions already in place in the
Group for a number of years, it was possible to rapidly set up remote
working for all central functions, enabling the closure of its sites, except
warehouse, until further notice (Saint-Denis head office, Roubaix,
Olonne-sur-Mer, Milan and Madrid).
At storage, order picking and dispatch sites, the Group has implemented all
social distancing recommendations and ramped up its preventative hygiene
measures, in addition to reduced shifts to minimize contact.
All activities (including internet and media) have been impacted by the
ongoing crisis, especially due to disruptions in the supply chain. The
Group's activity remains closely linked to the delivery and supply
conditions in the countries where the Group operates.
Travel restrictions have a direct impact on the shipment and delivery of
orders. The pick-up point network, which is the delivery method favoured by
Showroomprivé buyers, has been closed in France since 17 March. The Group
has therefore implemented restrictive measures with all of its carriers for
delivery without physical contact at buyers' homes, while other standard
delivery methods are unavailable. As a result, delivery times are generally
extended. The return periods are also extended to allow Showroomprivé's
buyers to continue to benefit from their purchasing conditions, which will
make their management more complex throughout the first half.
In this context, the Group is constantly adjusting the availability of its
teams by currently resorting to short time working for around a quarter of
the workforce. The Group thus intends to limit as far as possible the impact
of the activity decrease on its profitability, the projection of progressive
improvement of the EBITDA margin being logically suspended given the current
lack of visibility.
The Group continues to maintain strong ties with its partner brands, for
which it constitutes more than ever a significant sales channel.
On the financial plan, discussions with banking partners are continuing for
the renewal and extension of the maturity of the financing lines.
Furthermore, the Group will be able to rely on the business support plan
deployed by the French Government.
Showroomprivé is monitoring the situation closely and will keep the market
informed of any major developments in its business.
Next release
Q1 2020 turnover: early May 2020
ABOUT showroomprive.com
Showroomprivé.com is a European player in event-driven online sales that is
innovative and specialized in fashion. Showroomprivé proposes a daily
selection of more than 2,000 partner brands over its mobile applications or
its Internet site in France and in six other countries. Since its creation
in 2006, the company has undergone quick growth.
Listed on the Euronext Paris market (code: SRP), Showroomprivé achieved a
gross business volume with all taxes included of more than 821 million euros
in 2019, and net revenue of 616 million euros. The Group employs more than
950 people.
For more information: https://www.showroomprivegroup.com [1]
WARNING
Certain information included in this press release does not constitute
historical data, but forward-looking statements. These forward-looking
statements are subject to risks and uncertainties, particularly related to
the current health context. These risks and uncertainties appear in addition
to those described and identified in Chapter 4 "Risk factors" of the
registration document filed with the Autorité des Marchés Financiers (AMF)
on April 19, 2019, available on the Company's website
(www.showroomprivegroup.com) and on AMF's website (www.amf-france.org). This
press release only includes summary information and does not purport to be
exhaustive.
Contacts
Showroomprivé ACTUS finance &
communication
François de Castelnau, Directeur Grégoire Saint-Marc,
financier Relations Investisseurs
investor.relations@showroomprive.net showroomprive@actus.fr
+33 1 53 67 36 94
Priscilla Le Minter, Communication Alexandra Prisa,
Relations Presse
priscilla.leminter@showroomprive.net aprisa@actus.fr
+33 1 76 21 50 16 +33 1 53 67 36 90
Regulatory filing PDF file
Document title: pdf EN
Document: https://eqs-cockpit.com/c/fncls.ssp?u=SCFPJUSOPB [2]
Language: English
Company: Showroomprive.com
1, rue des Blés - ZAC Montjoie
93210 La Plaine Saint-Denis
France
Internet: showroomprive.com
ISIN: FR0013006558
AMF Category: Inside information / Other releases
EQS News ID: 1014491
End of Announcement EQS News Service
1014491 02-Apr-2020 CET/CEST
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2: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=fb76f937e0573d6a268ba7fa8309f308&application_id=1014491&site_id=vwd&application_name=news
(END) Dow Jones Newswires
April 02, 2020 11:47 ET (15:47 GMT)
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