Italy's Aeffe Spa, the owner of the Alberta Ferretti and Moschino fashion houses, expects its first-quarter results to be hit by the coronavirus outbreak in China, a top executive told Reuters on Wednesday.“The spread of the coronavirus will certainly have an impact on first-quarter results, I hope just on those,” managing Director Marcello Tassinari said on the sidelines of Alberta Ferretti’s fashion show in Milan.
He added the group was unlikely to pay a dividend on its 2019 results.
“Given the current situation, it’s better to be cautious,” he said. China accounts for around 10% of Aeffe’s revenues.
A company spokesman later clarified the impact would be small.