By Paulo Trevisani

 

Groupe SEB said it anticipates a negative impact on sales from the appreciation of the euro.

The French maker of cookware said Thursday it "anticipates a pronounced negative impact on reported sales due to the appreciation of the euro which, at current exchange rates, is estimated to represent around 5% of Group sales for the full year."

The EUR/USD was recently down 0.3% to 1.05.

Groupe SEB reported a 3.9% drop in North America sales for the first nine months of the year. It said that "the positive effect of the Mexican peso's appreciation was offset by the depreciation of the U.S. and Canadian dollars."

 

Write to Paulo Trevisani at paulo.trevisani@wsj.com

 

(END) Dow Jones Newswires

October 26, 2023 14:00 ET (18:00 GMT)

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