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Rexel: Q1 sales down 2.7%

( - Rexel has announced Q1 2020 sales of 3,225.
3 million euros, down 2.7%. On a comparable basis and with a constant number of days, sales fell by 3.3%, including a negative impact relating to the price of copper-based cables.

"...Solid sales growth. This changed abruptly in mid-March with the spread of the COVID-19 pandemic to virtually all of the markets in which we operate, resulting in government-imposed lockdowns," the distributor of electrical equipment said.

Rexel says that it has suspended its targets for 2020, which are no longer relevant in the current environment. Furthermore, its board of directors has decided to abandon its proposal of a dividend for 2019, at its AGM, which has been postponed until 25 June.

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