StockMarketWire.com - Flooring retailer Victoria said it was too early to assess the impact on its business from Covid-19 but acknowledged it would be significant.
'The issues surrounding Covid-19 have the capacity to impact companies' earnings by interrupting supply chains, workforce sustainability, and demand,' it said in a trading update.
'Unquestionably a decline in demand is likely to have the most significant impact on Victoria.
'Together with the general loss of consumer confidence following the emergence of the virus, in some countries potential customers cannot buy flooring - even if they wish to do so - due to the closure of all non-essential retail businesses.'
Still, Victoria said the situation did not present an 'existential threat' to the company, which it said had a positive long-term outlook.
'Victoria is well positioned to weather this storm and the likely outcomes,' the company said.
'We have a strong balance sheet, motivated and talented operational management, fully-developed contingency plans covering scenarios of varying severity and duration, and geographic diversity of end markets and manufacturing facilities.'
At 9:24am: [LON:VCP] Victoria PLC share price was +15p at 165p
Story provided by StockMarketWire.com
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