Retail Food Group (ASX:RFG) Sales Go Down, Thanks To Victoria Lockdown

November 12, 2020 03:22 PM AEDT
Team Kalkine

Retail Food Group Limited (ASX:RFG), on 12 November 2020, announced that due to super strict restrictions regarding Covid-19 in Victoria, the company registered losses. As per the group’s domestic franchise network, total sales to 1 November were around $162 million, 14.5% lower as compared to the previous corresponding period.

It should be noted that on 11 November, funds managing firm Washington H Soul Pattinson (ASX:SOL) took a $10 million stake in the RFG.

The lockdown effect was seen largely in the region of Victoria where almost 18% of the Group’s domestic outlet population is based.

The stock was seen trading at $0.083 with a market capitalisation of $178.08 million at 03:11 PM AEDT.

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