CENOMI RETAIL’S 2023 EARNINGS IMPACTED BY ONE-OFFS RELATED TO BRAND EXITS AND STORE CLOSURES
Progress on brand divestment with 16 brands sold and additional five brands added
Asset impairments and restructuring charges related to retail portfolio transformation impact profits
Focus remains on business transformation, Champion brands and continued retail portfolio optimization
The Board of Directors has requested Management to evaluate the need for a capital increase should it be required post income from brand sales
Cenomi Retail’s operational cash flow remains strong with no impact on day-to-day business operations including commitments to brand partners, landlords and financial institutions.
