Walmart fallout 76 pc
Read also: Consumer-facing companies will be the first hit if the coronavirus spreads across the U.S. “This reduced the number of shipping days in China.” “Our performance was impacted by the extension of the Lunar New Year holiday due to the coronavirus,” CFO Robert McMahon said. The lab instruments maker anticipates a $25 million to $50 million hit in the first half as a result of the virus a $10 million loss in revenue in the first quarter and an estimated $15 million to $40 million impact in the second quarter. “We’ve given ourselves some provision I guess I would say on the European tourism business to continue to suffer a little bit as the travel restrictions get more and more intense,” CFO Scott Lipesky said during an earnings call, according to a FactSet transcript.Įxpects earnings of 72 cents to 76 cents a share on revenue of $1.28 billion to $1.32 billion “after factoring in the potential impact” of the coronavirus. It has also lost $4 million “primarily from store closures in mainland China due to the coronavirus.” Abercrombie’s Asia-Pacific region made up less than 10% of 2019 sales, and its total manufacturing exposure to China was 22% in fiscal 2019. “That’s maybe the best frame to think about it for coronavirus at this point,” CEO Mike Roman said at an investor conference.Įxpects an adverse impact of $60 million to $80 million on sales this year as a result of the outbreak. Said demand for respirators is currently outpacing supply, and that increased demand for respirators during the H1N1 influenza outbreak in 2009 generated $250 million in revenue for the company.
Walmart fallout 76 pc full#
While most companies are still saying it’s too early to assess the full impact, many are attempting to offer some evaluation of lost sales or hits to earnings. With the December earnings season now all but over, many companies are having to review their guidance to incorporate the effect the virus is having on supply chains in Asia, as well as on consumer behavior across the globe.