Summary by Futu AI
The US retailer issued a profit warning, expecting sales revenue to fall by more than 90% in 2023 compared to the same period last year and expected its owner-occupier losses to fall by 45% to 55%. The company faced capital constraints and a reduction in the size of its retail network, leading to a significant decline in the size of its operations. As of February 29, 2024, the principal amount of RMB192.6 billion was RMB192.6 billion and involved 990 pending litigation cases in the amount of RMB45.4 billion. The Company is actively discussing with banks and related entities to change the loan terms or extend the loan term. In addition, the company was frozen with funds amounting to RMB114 million. U.S. Retail focuses on its electrical and consumer electronics...Show More