Gear4Music 3Q Sales Decline on Year as Fiscal Year 2022 Ebitda Seen in Line With Consensus
January 20 2022 - 5:06AM
Dow Jones News
By Kyle Morris
Gear4Music (Holdings) PLC said Thursday that third-quarter sales
fell on year, but that it continues to expect fiscal 2022 earnings
before interest, taxes, depreciation and amortization to be in line
with consensus market expectations.
The online retailer of musical instruments and music equipment
said it expects to report third-quarter sales of 47.2 million
pounds ($64.2 million) compared with GBP52.2 million a year
earlier.
Chief Executive Andrew Wass said financial performance during
the peak seasonal trading period was in line with the board's
expectations, and that European growth has been restricted due to
short-term Brexit-related issues.
Consensus market expectations for the year ending March 31 are
currently revenue of GBP149.2 million and Ebitda of GBP12.0
million, it said.
Write to Kyle Morris at kyle.morris@dowjones.com
(END) Dow Jones Newswires
January 20, 2022 04:51 ET (09:51 GMT)
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