SRP GROUPE
Showroomprive.com
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 (includinginternet 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 inthe 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 constitutesmore 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. 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
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
Regulatory filing PDF file Document title: pdf EN Document: https://eqs-cockpit.com/c/fncls.ssp?u=SCFPJUSOPB |
| 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
