Thursday , October 21 2021

Bang & Olufsen stocks plunge with Sparter's Rotation Effort – Bloomberg

Bang & Olufsen shares plunge in Sputters Bloomberg

Bang & Olufsen A / S, the Danish electronics manufacturer, is entering an even deeper recession. Shares plummeted 22 percent on Tuesday, after sales plummeted. Revenue fell to 14% in the fiscal year ended May 31, worse than the 10% forecast by Bang & Olufsen, the company said in a statement. Stocks fell to the lowest level in more than four years in the Copenhagen trade. "Clearly, our financial performance this year was not satisfactory and we are very disappointed," Chief Executive Henrik Clausen said in the statement. Clausen was tr …

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