Steinhoff warns of dire effect of coronavirus on business
The scandal-hit retailer says many of its businesses are dependent on sourcing and supply from Asia
Steinhoff’s revenues are growing though its businesses in Europe and Africa, but the scandal-hit retailer is taking steps to mitigate any potential effect the coronavirus might have on its performance, it said on Thursday.
In an operational update for the three months ended in December, Steinhoff said many of its businesses were dependent on sourcing and supply from Asia. “While it is widely expected that the outbreak and spread of coronavirus may lead to sourcing and other challenges, it is not yet possible to determine accurately any future impact on business performance,” it said.