The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Andrea Bonfa - Banca Akros S.p.A., Research Division - Analyst
: I got 2 questions. One is, Stefano, if you allow me, a more philosophical one. I mean after the -- fortunately, the coronavirus (inaudible) experienced
an impact on the industry. You still think that you can, let's say, manage your business with such lower working capital going forward? Or do you
think nothing has changed compared to, let's say, with the previous --?
Question: Andrea Bonfa - Banca Akros S.p.A., Research Division - Analyst
: I'll repeat it. I'm without headphone. Sorry. No, I was thinking, Stefano, for you after the same experience of the coronavirus, do -- you can manage
your business with a structurally lower working capital? Or is -- nothing has changed in term of how you manage your business?
And the second one is when can we assume that, let's say, costs, seasonality, return to normality? Will it be with the first quarter 2021, if that is
correct? Because I presume that you still need to fix your end payment with the last quarter of the year.
And the third one, you mentioned a decline in the apparel market of minus 3%, minus 3.2%. I had in mind much worse figures. If you can recap for
us what's the state of the art in the apparel Italian market, just to have an idea of the progressive performance, if it's possible, and not too much of
a hassle.
Question: Andrea Bonfa - Banca Akros S.p.A., Research Division - Analyst
: Very useful. If I may, the last question, is that also sort of an idea in term of absolute value? Was the impact of the sales shift from July to August
just in order to normalize Q2 and Q3 performance?
|
