B&O’s fourth profit warning in a year called ‘catastrophic’
The Danish luxury electronic goods maker had a 31% drop in sales in the second quarter
18 December 2019 - 11:22
Copenhagen — Danish luxury TV and stereo maker Bang & Olufsen (B&O) has cut its revenue and operating margin outlook, blaming fierce competition and poor sales, in the fourth such profit warning for the struggling company in a year.
B&O had vowed it would return to profit in 2019 following three warnings in the previous year, but was forced to ditch this promise as it failed to entice shoppers, resulting in a 31% sales decline in the second quarter to 627-million krone ($92.47m)...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.