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Frasers pulls guidance on enforced store closures amid fresh virus restrictions
StockMarketWire.com
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Frasers, formerly Sports Direct, pulled its guidance on annual performance after it was forced to shutter its stores in parts of England in the wake of the latest government coronavirus restrictions.
Given this was a peak trading period, and combined with the high likelihood of further rolling lockdowns nationwide over the following months at least, Frasers said it could no longer commit to meeting its guidance of achieving a 20% to 30% improvement in underlying earnings before interest, taxes, depreciation and amortization, or EBITDA, during FY21.
Story provided by StockMarketWire.com
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