Groupe SEB Foresees Negative Hit From Euro Appreciation -- Currency Comment
October 26 2023 - 2:15PM
Dow Jones News
By Paulo Trevisani
Groupe SEB said it anticipates a negative impact on sales from
the appreciation of the euro.
The French maker of cookware said Thursday it "anticipates a
pronounced negative impact on reported sales due to the
appreciation of the euro which, at current exchange rates, is
estimated to represent around 5% of Group sales for the full
year."
The EUR/USD was recently down 0.3% to 1.05.
Groupe SEB reported a 3.9% drop in North America sales for the
first nine months of the year. It said that "the positive effect of
the Mexican peso's appreciation was offset by the depreciation of
the U.S. and Canadian dollars."
Write to Paulo Trevisani at paulo.trevisani@wsj.com
(END) Dow Jones Newswires
October 26, 2023 14:00 ET (18:00 GMT)
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