Warpaint London sees limited coronavirus impact so far
Mar 19, 2020
Colour cosmetics specialist Warpaint London is one of few companies so far to say that the coronavirus has had a minimal impact on its operations up until now.
The company, which owns the W7 and Technic brands, said that while it’s “aware of disruption in the retail environment, particularly in Europe, caused by the restrictions in place, temporary shop closures and changes in shopping behaviour, to date the impact on group sales has been limited”.
Not that it's being complacent and it said it's closely monitoring the evolving impact of the current situation on demand on a country-by-country and retailer-by-retailer basis.
Given that it's not seeing much of an impact so far, it also said that it's too early to determine how its results for the current financial year might be affected.
“To date there have been no material issues with the company's supply chain, Chinese suppliers are returning to normal levels of production and the company is maintaining healthy levels of stock,” it said. “The directors believe the company's business model remains robust, with sales globally underpinned by a strong balance sheet with net cash”.
It also said that all of its staff that are able to are currently working from home and for those that can't, it's taking “appropriate steps to ensure their health and well-being”.
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