Investor Relations

Analyst consensus 2020

Please find the notes to consensus for Q4 2020:

• As previously indicated, the 53rd week should benefit net sales for the full year by 1.5-2.0%. Comparable sales growth will be presented on a comparable 53-week basis.

• There are no other significant calendar impacts of note for the U.S and Europe segments in Q4.

Please find the notes to consensus for Q3 2020:

Below please find anticipated calendar impacts to Q3:

USA:

• There is no calendar impact of note for the US segment in Q3

Europe:

• The Europe segment will be negatively impacted by approximately -10 bps due to a calendar shift in Q3

Please find the notes to consensus for Q2 2020:

• There is no calendar impact of note for the US segment in Q2
• The Europe segment will be negatively impacted by approximately -10 bps due to a calendar shift in Q2

Please find the notes to consensus for Q1 2020:

• On April 7^th, we provided an update on sales and profits for Q1 2020.  Please refer to our press release, which you can find here

• There is no calendar impact of note for the US segment in Q1

• The Europe segment will be impacted by approximately +40 bps due to a calendar shift benefit in Q1

Analyst consensus as on April 28, 2020