Question
As the Chief Financial Officer of a medium-large concern in ladies fashion, you have just been delivered the results of the most recent fiscal year,
As the Chief Financial Officer of a medium-large concern in ladies fashion, you have just been delivered the results of the most recent fiscal year, and frankly they are quite astonishing. The Covid crisis has forced the temporary closure of many of your stores, and the switch to on-line has not gone smoothly. Sales have fallen by almost 30%, and profits are down by 75%. The shares will collapse on this news, you are sure. You have friends who, on your advice have bought shares in the company, which was doing so well up until the crisis. Your first impulse is to call your friends and tell them to sell their stocks before the collapse. What do you think you should do ?
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